MXF is a short form of Material exchange Format, is a container format just like AVI for the professional digital video and audio media defined by set of SMPTE standards. MXF video is often produced by high end camera and camcorder like Canon C300/XF300/XF305, Sony XDCAM, Panasonic P2 MXF, HVX200 to store audio and video and the programmed data.  MXF file cannot be opened and played on various video editing programs such as Adobe Premiere Pro, Adobe After Effects, Sony Vegas, Pinnacle Studio, Windows Movie Maker and Avid Media Composer, Apple Final Cut Pro, Final Cut Express, iMovie, etc. and cannot be played by various  video players and portable players. So if you want to edit or play MXF file on other video editor or media devices the first thing you need to convert them into popular format such as WMV, AVI, MOV, MP4, ProRes MOV, MPEG, DVD, etc.

MXF, abbreviation for Material Exchange Format and it is a container format for professional digital video and audio media identified by a set of SMPTE standards. 

It is quite successful in transaction  of D10 IMX material which is used by HD camcorders like Panasonic HVX200/HPX300, Canon XF100, Canon XF105, Canon XF300, Canon XF305, Sony XDCAM ,EOS C300, EOS C300 PL, and HVX200 to save audio, video, and programmed data.