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Futures contract
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===Exchange for Related Position=== A variety of trades have developed that involve an exchange of a futures contract for either a over-the-counter, physical commodity, or cash asset position that meets certain criteria such as scale and correspondence to the underlying commodity risk.<ref>{{cite web |date=2021-02-26 |title=Understanding EFRP Transactions β CME Group |url=https://www.cmegroup.com/education/articles-and-reports/understanding-efrp-transactions.html |access-date=2024-04-13 |website=CME Group}}</ref><ref>{{Cite web |title=CFTC Orders INTL FCStone Financial Inc. and FCStone Merchant Services LLC to Pay Penalty for Unlawful Exchange for Related Position Transactions {{!}} CFTC |url=https://www.cftc.gov/PressRoom/PressReleases/7644-17 |access-date=2025-04-29 |website=www.cftc.gov |language=en}}</ref><ref>{{cite web | title=CFTC Orders Morgan Stanley & Co. LLC to Pay $5 Million Civil Monetary Penalty for Unlawful Noncompetitive Trades | website=CFTC | date=2012-06-05 | url=https://www.cftc.gov/PressRoom/PressReleases/6270-12 | access-date=2024-04-13}}</ref>
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