ErisX cash settled Bounded Futures are settled and expire at 10am CT on the contract-specified expiry day. The settlement process will run between 10am and 12pm CT (2 hours) on the same day. The final settlement price of a Bounded Futures contract is calculated in accordance with Eris Exchange Rule 906, however Rule 906(b)(1) will not be applied. Member account balances will be updated during this delivery process based upon their positions: The buyer will be credited the difference between the settlement price and the lower boundary multiplied by the number of contracts they held at expiry. The seller will be credited the difference between the upper boundary and the settlement price multiplied by the number of contracts they held at expiry.
See the example here for further information.