Hours & Holidays

2025 Futures Settlement Calendar

CFE Trading Hours

(all times are Central Time)

VX/VXM Futures

	Sun	Mon-Thurs	Fri
Pre-Open	4:00 p.m.	4:45 p.m.
Open	5:00 p.m.	5:00 p.m.
Post Settlement Start Time		3:00 p.m.	3:00 p.m.
Close		4:00 p.m.	4:00 p.m.
Close Time for Expiring Instruments		8:00 a.m. on expiration Wed
Market Order Acceptance Time		8:30 a.m. – 3:00 p.m.	8:30 a.m. – 3:00 p.m.
Limit Up/Limit Down Start Time	5:00 p.m.	3:00 p.m. and 5:00 p.m.	3:00 p.m.
Limit Up/Limit Down End Time		8:30 a.m. and 4:00 p.m.	8:30 a.m. and 4:00 p.m.

VXT/VXMT Futures

	Sun	Mon-Thurs	Fri
Pre-Open	4:00 p.m.	4:45 p.m.
Open	5:00 p.m.	5:00 p.m.
Close		3:00 p.m.	3:00 p.m.
Close Time for Expiring Instruments		3:00 p.m. on Tue prior to expiration Wed

VA Futures

	Sun	Mon-Thurs	Fri
Pre-Open	5:00 p.m.	5:00 p.m. on prior calendar day	5:00 p.m. on prior calendar day
Open		8:30 a.m.	8:30 a.m.
Close		3:15 p.m.	3:15 p.m.
Close Time for Expiring Instruments		3:15 p.m. on day prior to final settlement date

IBIG Futures

	Sun	Mon-Thurs	Fri
Pre-Open	4:00 p.m.	4:45 p.m.
Open	5:00 p.m.	5:00 p.m.
Post-Settlement Start Time		3:00 p.m.	3:00 p.m.
Close		4:00 p.m.	4:00 p.m.
Close Time for Expiring Instruments		3:00 p.m. on final settlement date
Limit Up/Limit Down Start Time	5:00 p.m.	3:00 p.m. and 5:00 p.m.	3:00 p.m.
Limit Up/Limit Down End Time		8:30 a.m. and 4:00 p.m.	8:30 a.m. and 4:00 p.m.

IBHY Futures

	Sun	Mon-Thurs	Fri
Pre-Open	4:00 p.m.	4:45 p.m.
Open	5:00 p.m.	5:00 p.m.
Post-Settlement Start Time		3:00 p.m.	3:00 p.m.
Close		4:00 p.m.	4:00 p.m.
Close Time for Expiring Instruments		3:00 p.m. on final settlement date
Limit Up/Limit Down Start Time	5:00 p.m.	3:00 p.m. and 5:00 p.m.	3:00 p.m.
Limit Up/Limit Down End Time		8:30 a.m. and 4:00 p.m.	8:30 a.m. and 4:00 p.m.

IEMD Futures

	Sun	Mon-Thurs	Fri
Pre-Open	4:00 p.m.	4:45 p.m.
Open	5:00 p.m.	5:00 p.m.
Post-Settlement Start Time		3:00 p.m.	3:00 p.m.
Close		4:00 p.m.	4:00 p.m.
Close Time for Expiring Instruments		3:00 p.m. on final settlement date
Limit Up/Limit Down Start Time	5:00 p.m.	3:00 p.m. and 5:00 p.m.	3:00 p.m.
Limit Up/Limit Down End Time		8:30 a.m. and 4:00 p.m.	8:30 a.m. and 4:00 p.m.

XBTF Futures

	Sun	Mon-Thurs	Fri
Pre-Open	5:00 p.m.	5:00 p.m. on prior calendar day	5:00 p.m. on prior calendar day
Open		8:30 a.m.	8:30 a.m.
Close		3:00 p.m.	3:00 p.m.
Close Time for Expiring Instruments		3:00 p.m.	3:00 p.m.
Limit Up/Limit Down Start Time		8:30 a.m.	8:30 a.m.
Limit Up/Limit Down End Time		3:00 p.m.	3:00 p.m.

FBT and FET Futures

	Sun	Mon-Thurs	Fri
Pre-Open	4:00 p.m.	4:45 p.m.
Open	5:00 p.m.	5:00 p.m.
Post-Settlement Start Time		3:00 p.m.	3:00 p.m.
Close		4:00 p.m.	4:00 p.m.
Close Time for Expiring Instruments			10:00 a.m. on expiration Friday
Market Order Acceptance Time		8:30 a.m. - 3:00 p.m.	8:30 a.m. - 3:00 p.m.
Limit Up/Limit Down Start Time	5:00 p.m.	3:00 p.m. and 5:00 p.m.	3:00 p.m.
Limit Up/Limit Down End Time		4:00 p.m.	4:00 p.m.

IBYO and IBGO Options on Futures

	Sun	Mon-Thurs	Fri
Pre-Open	5:00 p.m.	5:00 p.m.
Open		8:30 a.m.	8:30 a.m.
Close		3:00 p.m.	3:00 p.m.

UX Options on Futures

	Sun	Mon-Thurs	Fri
Pre-Open	5:00 p.m.	5:00 p.m.
Open		8:30 a.m.	8:30 a.m.
Close		3:00 p.m.	3:00 p.m.

2025 Futures Holiday Schedule

Holiday	Date	Regular Trading Hours	Extended Trading Hours
New Year's Day	January 1	None	5:00 PM (Wed) to 8:30 AM (Thu)
National Day of Mourning (NDoM) - Jimmy Carter	January 9	None	5:00 PM (Wed) to 8:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Martin Luther King, Jr. Day	January 20	None	5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Presidents' Day	February 17	None	5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Good Friday	April 18	None	None
Memorial Day	May 26	None	5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Juneteenth Holiday	June 19	None	5:00 PM (Wed) to 10:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Independence Day Early Close	July 3	08:30:00 - 12:15:00	5:00 PM (Wed) to 8:30 AM (Thu)
Independence Day	July 4	None	5:00 PM (Thu) to 10:30 AM (Fri)
Labor Day	September 1	None	5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Thanksgiving Day	November 27	None	5:00 PM (Wed) to 10:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Thanksgiving Early Close	November 28	08:30:00 - 12:15:00	5:00 PM (Wed) to 10:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Christmas Early Close	December 24	08:30:00 - 12:15:00	5:00 PM (Tue) to 8:30 AM (Wed)
Christmas Day	December 25	None	5:00 PM (Thu) to 8:30 AM (Fri)

2026 Futures Holiday Schedule

Holiday	Date	Regular Trading Hours	Extended Trading Hours
New Year's Day	January 1	None	5:00 PM (Thu) to 8:30 AM (Fri)
Martin Luther King, Jr. Day	January 19	None	5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Presidents' Day	February 16	None	5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Good Friday	April 3	None	5:00 PM (Thu) to 8:30 AM (Fri)
Memorial Day	May 25	None	5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Juneteenth Holiday	June 19	None	5:00 PM (Thu) to 10:30 AM (Fri)
Independence Day Observed	July 3	None	5:00 PM (Thu) to 10:30 AM (Fri)
Labor Day	September 7	None	5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Thanksgiving Day	November 26	None	5:00 PM (Wed) to 10:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Thanksgiving Early Close	November 27	08:30:00 - 12:15:00	5:00 PM (Wed) to 10:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Christmas Early Close	December 24	08:30:00 - 12:15:00	5:00 PM (Wed) to 8:30 AM (Thu)
Christmas Day	December 25	None	None