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Quantitative Finance · Glossaire

Qu'est-ce que « Exchange for physical » ?

Definition 21.12 Markets I: The Ecosystem and Exchange-Traded Markets · Chapitre 21 — Basis, Roll and Delivery

An exchange for physical (EFP) is a privately negotiated transaction, reported to the exchange, in which one party buys the cash asset and sells the future and the other does the opposite, at an agreed price difference. It moves a position between the cash and futures markets without touching either order book.

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