notice of intention day

Notice Day

The day on which a clearing house informs an investor that it intends to make delivery of a commodity that the investor previously bought in a futures contract. The date is governed by the rules of different exchanges and clearing houses, but may also be stated in the futures contract itself. It occurs in the delivery month in which the contract expires. See also: First notice day.

notice of intention day

In futures trading, the day on which the clearing firm matches the investor who has declared an intention to deliver on a contract with the investor who must accept delivery. This situation occurs one day after the person holding the short position has declared his or her intention to the clearing firm and one day before delivery is to occur. See also delivery day, first position day, position day.
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