Trade Types

Description of Trade Types. For more extensive descriptions of some of these trade types, access CME Group Glossary.

 

Trade Type Description Reporting

BLOCK

Block Trade. Minimum order size requirements that vary according to product and order type. Only negotiated with futures, options on futures, and CBOT swap trades (excludes all other basis trades).

None

EFP

Exchange for Physical Trade. Privately negotiated and simultaneous exchange of a futures position for a cash position.

None

EFR/EOO

Exchange for Risk / Exchange of Options for Options Trade.

EFR. Privately negotiated simultaneous exchange of an Exchange futures position for a corresponding OTC swap or other OTC instrument.

EOO: Privately negotiated exchange of an Exchange option position for a corresponding OTC instrument or instrument with similar characteristics.

None.

OPNT

Over the Counter Privately Negotiated Trades.

SDR reporting options:

  • Report to CME Group SDR
  • Previously Reported to Other SDR (if Primary Economic Terms only is selected for Report to CME Group SDR)

Swap Data Repository is set to "Off Facility."

Basis Trade at Cash Open (TACO)

Basis Trade at Cash Open (TACO) products operate on unique contract terms and trading schedule.

After trade execution (fill), positions are reset as specified in the Client Systems Wiki - Basis Trade at Cash Open.

Block trades are subject to market regulation requirements.