taifex taiwan futures exchange
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Underlying Index Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX)
Ticker Symbol TX
Delivery Months Spot month, the next calendar month, and the next three quarterly months
Last Trading Day The third Wednesday of the delivery month of each contract
Trading Hours ● 08:45AM-1:45PM Taiwan time Monday through Friday of the regular business days of the Taiwan Stock Exchange
● 08:45AM-1:30PM on the last trading day for the delivery month contract
Contract Size NTD 200 x per index point
Minimum Price Fluctuation One index point (NTD 200)
Daily Price Limit +/- 7% of previous day's settlement price
Margin ● The initial and maintenance margin levels as well as the collection measures prescribed by the FCM to its customers shall not be less than those required by TAIFEX.
● The initial margin and maintenance margin announced by TAIFEX shall be based on the clearing margin calculated according to TAIFEX’s Criteria and Collecting Methods Regarding Clearing Margins, plus a percentage prescribed by TAIFEX.
Daily Settlement Price The daily settlement price is the volume weighted average price, which is calculated by dividing the value of trades by the volume within the last one minute, or as otherwise determined by TAIFEX according to the Trading Rules.
Final Settlement Day The same day as the last trading day
Final Settlement Price The average price of the underlying index disclosed within the last 30 minutes prior to the close of trading on the final settlement day.Method used to calculate final settlement price.
Settlement Cash settlement
Position Limit Combined with the calculation of MTX position limit
(on a pro rata basis of 1:4 contract size)
● Any investor's aggregate open same-side positions in the Contract for various delivery months at any time shall not exceed the limit standards announced by TAIFEX.
Institutional investors may apply for an exemption from the above limit on trading accounts for hedging purposes.
● These position limits are not applicable to omnibus accounts.