02.12.2009 - MCX launches EFP in 12 commodities
From Financialexpress.com: MCX India Ltd on Tuesday started an exchange of futures for physicals (EFP) transactions in 12 commodities. An EFP transaction is one where two parties who have agreed to a physical transaction at a future date then enter into a similar transaction in futures on the bourse. As per market experts EFP in simple terms is defined as a futures contract provision, involving an agreement for delivery of physical product, that does not necessarily conform to contract specifications in all terms, from one market participant to another, and a associated assumption of equal and opposite futures positions by the same participants at the time of the agreement.................................Full Article: Source