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European Union Treaty

Treaty signed by the 12 EMS members in February 1992 in the Dutch city of Maastricht, with the stated goal of forming a "closer union among the peoples of Europe." Exchange for physical (EFP) Consists of deals executed in the cash market, outside the exchanges, for amounts equivalent to the currency futures amount, on forward outright prices valued for the futures´ expiration. EFPs are generally quoted by commercial and investment banks, even during regular trading hours.

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