IB Physical Delivery Closeout Schedule

[SideShowBob]

I received the following from IB tonight. I get that you need to close out physical deliveries. And I get that sometimes people mess up and forget to close them out. But I do not understand why:

1. IB cannot pin it down to a specific position
2. IB cannot pin it down to a specific date when they will close it out
3. IB cannot provide a report showing the first two items

IB you obviously have this information available to generate these alerts, why not make them available to avoid the headaches of having to close them out?

SSB

Notification
February 28, 2010
Physical Delivery Closeout Schedule
Please be advised that specific futures contracts deliver the physical commodity at settlement. At the present time, IB does not support the physical delivery of certain commodities. As a result, the futures contract must be closed out in order to avoid risk of delivery.

It has been detected that your account currently holds a position in one or more of the following physically delivered products.

CONF
GBL
GBM
GBS
GBX
PB

A long position in any of the above products will become subject to an automated liquidation if it is not closed out in accordance with IB's Closeout Schedule for physically delivered commodities.

Please refer to the following link for a detailed description of IB's Physical Delivery Liquidation Rules:

Physical Delivery Liquidation Rules

This e-mail is distributed as an additional courtesy, to provide a reminder of IB's Physical Delivery Liquidation Rules. Please note that it is the responsibility of the trader to be aware of the policy and its application to specific holdings within a portfolio at any given time.


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