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Exchange of futures for physicals (EFP) refers to the transaction wherein, upon the mutual agreement of the parties thereto, one party is the buyer of the Exchange contract and the seller of corresponding securities or related contracts, and the other party is the simultaneous seller of the Exchange contract and the buyer of corresponding securities or related contracts. EFP as an alternative trading mechanism supplements and benefits the centralized trading of the exchange, and reduces the costs of trading strategies and satisfy the diversified needs of investors for price negotiation and flexible trading, thus supporting the healthy development of the Chinese government bond futures market.


Recent Developments of EFP

Notice on   Matters Related to the Launch of Exchange of Futures for Physicals on Chinese   government Bond Futures

CFFEX Announces the Launch   of Exchange of Futures for Physicals on Chinese government Bond Futures

EFP Member Information

Rules and Regulations

Operation Manuals

Market Data

Learning Materials


For any question about EFP,   please contact us at:

Tel: +8621-50160299

Fax: +8621-50160298



This document is provided for learning and communication purposes only and published for information purpose only and does not constitute any advertisement, business materials or investment advice. The information contained herein is sourced from publicly available documents, and the Company provides no guarantee as to the accuracy, completeness or reliability of the contents and contained herein and information related thereto. The Company will not in any way responsible for any direct or indirect losses incurred as a result of any and all activities committed by any institution or individual based on this document or the contents contained herein.

Copyright Notice

The copyright of this document is the property of the Company. Without the written permission of the Company, no institution and individual may, in any form, reprint, reproduce, copy, publish, translate, cite or otherwise use this document. Anyone who uses this document upon the consent of the Company must do so within the authorized scope and indicate “China Financial Futures Exchange” as its source and may not cite, delete or modify this document in any way contrary to its original intention. The Company will hold legally liable any violator of the above statements.

Copyright ©2010 CFFEX

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