It is also known as exchange for cash or exchange against actuals which refers that the buyer of a cash commodity transfers to the seller an equivalent amount of long-futures contracts, or receives from him a corresponding amount of short-futures contracts, eg. A trader who holds multi-positions may choose to obtain spot goods instead of closing out the position in the market so as to avoid risks.

alternative delivery procedure
A provision in a futures contract that allows buyers and sellers to make and take delivery of the underlying product under terms or conditions that differ from those outlined by the contract. An ADP may be invoked at any time during the delivery period after long and short futures positions have been matched for the purpose of delivery.

exchange for physical
英文名称：Exchange for Cash／Exchange for Physical 中文名称：期货转换现货交易／交易实物
指持有同一交割月份合约的多空双方之间达成现货买卖协议后，变期货部位为现货部位的交易。
期转现方法：达成协议的双方共同向交易所提出申请，获得交易所批准后，分别将各自持仓按双方商定的平仓价格由交易所代为平仓（现货的买方在期货市场须持有多头部位，现货的卖方在期货市场须持有空头部位）。同时双方按达成的现货买卖协议进行与期货合约标的物种类相同、数量相当的现货交换。

alternative delivery procedure
就是买卖双方用合约规定范围之外的方法进行交割