Settlements

A position settles in one of two ways.

• Closing: while trading is available, you trade against your own position. A bought position is closed by selling, and a sold position by buying. Closing depends on matching interest, and the price may produce a loss.
• At expiration: every market has an expiration defined in its contract terms. When the result is applied, each open position settles under those terms. For a binary contract with a $1 settlement value, a contract normally settles at $1 if the outcome is YES and $0 if it is NO.

When a position settles, funds held for it are released to your account. The Clearing House credits applicable member accounts following any applicable holding period, so settlement may not be immediate after an event ends. See Outcomes and settlement.

Fees are set out in the Fee Schedule.