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Against Actual

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Dictionary Says

Definition of 'Against Actual'

An order between two traders looking to hedge their positions in which the traders swap out futures positions in exchange for cash positions. Against actual

A transaction generally used by two hedgers who want to exchange futures for cash positions.

 
Investopedia Says

Investopedia explains 'Against Actual'

Also referred to as against actuals (AA), exchange for physical (EFP), or versus cash.

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