
Exchange of Futures for Physical (EFP) and Exchange of Futures for
Swaps (EFS)
EFPs or EFSs may be reported to the Exchange during trading
hours and registered by LCH.Clearnet up to one hour after the
cessation of trading in the delivery month in which the EFP or
EFS is traded. These allow more effective hedging opportunities
for market participants with over-the-counter positions.
Law
The contract is governed by English law and includes provisions
regarding force majeure, trade emergency and embargoes.
Source: IPE.
Physical delivery of LME contracts
The LME contracts allow producers, fabricators, merchants and con- ...