First Notice Day (FND) and Last Trading Day (LTD) are very important dates to know when trading any futures contract. You can find the FND and LTD in several ways.
First Notice Day
While the holder of a futures contract is obligated to fulfill the terms of the contract, most futures contracts are closed out well before delivery may occur. To avoid delivery and the costs of retendering, futures traders need to fully understand First Notice Day (FND) and Last Trading Day (LTD).