Search Result

Title: Taiwan Futures Clearing Service Fee Schedule
Date: 2002.12.20 ( Announced )
Date: 2016.10.17 ( Amended )

Article Content

 
Article 1     This Fee Schedule is promulgated pursuant to Article 113 of the Taiwan Futures Exchange Operating Rules.
Article 2     When an applicant becomes a clearing member of the Taiwan Futures Exchange (TAIFEX), the applicant shall pay a registration fee according to the following provisions:
  1. Fee: NT$300,000. If the applicant is a shareholder of the TAIFEX when it enters the clearing and settlement contract, the registration fee shall be NT$200,000.
  2. The registration fee shall be paid before the applicant enters the clearing and settlement contract. After it begins operations, the clearing member may not request a refund.
Article 3     Clearing members shall pay the annual license fee according to the following provisions:
  1. Fee: NT$100,000 per year. This fee may be adjusted in view of market developments after ratification by the competent authority.
  2. When clearing members pay the registration fee, they shall also pay the annual license fee. Thereafter, clearing members shall pay the license fee when they apply for a license for the coming year.
  3. The annual license fee shall be collected on a per calendar year basis and is not refundable. The license fee for the first year shall be pro-rated from the month in which the license was received. Partial months shall be counted as full months.
Article 4     Except where otherwise provided, clearing members engaging in futures trading clearing and settlement business shall remit clearing fees according to the following provisions:
  1. Fees:
    1. NT$8 per party per contract for Taiwan Stock Exchange Stock Index Futures Contracts, Taiwan Stock Exchange Electronics Sector Index Futures Contracts, Taiwan Stock Exchange Banking and Insurance Sector Index Futures, Taiwan Stock Exchange Taiwan 50 Index Futures, Taiwan Stock Exchange NonFinance NonElectronics Sub-Index Futures Contracts, and GreTai Securities Market Stock Index Futures Contracts.
    2. NT$5 per party per contract for Taiwan Stock Exchange Mini-TAIEX Futures Contracts, Nifty 50 Futures Contracts, and single stock futures contracts with beneficial certificates as the underlying securities.
    3. NT$4 per party per contract for Taiwan Stock Exchange Stock Index Options Contracts, Taiwan Stock Exchange Electronics Sector Index Options Contracts, Taiwan Stock Exchange Banking and Insurance Sector Index Options Contracts, Taiwan Stock Exchange NonFinance NonElectronics Sub-Index Options Contracts, GreTai Securities Market Stock Index Options Contracts, and single stock options contracts with beneficial certificates as the underlying securities.
    4. NT$4 per party per contract for interest rate futures contracts.
    5. NT$4 per party per contract for gold futures contracts and NT Dollar-denominated Gold Futures Contracts; NT$2 per party per contract for Gold Option contracts.
    6. NT$2 per party per contract for stock option contracts and single stock futures contracts with stocks as the underlying securities.
    7. NT$9.6 per party per contract for USD/CNH FX Futures (RHF) and Options; NT$2 per party per contract for USD/CNT FX Futures (RTF) and Options.
    8. NT$3.2 per party per contract for Tokyo Stock Price Index Futures Contracts.
    9. NT$3.2 per party per contract for EUR/USD FX Futures Contracts and USD/JPY FX Futures Contracts.
  2. At the end of each month, TAIFEX shall issue billing statements for clearing fees incurred that month. The clearing fees shall be based upon the number of futures contracts transacted that month. On the tenth day of the following month, TAIFEX shall compile transfer details for clearing fees incurred during the preceding month and forward them to the settlement banks. The settlement banks shall then transfer the outstanding clearing fees from the clearing margin account of the clearing member and its client margin account into the TAIFEX clearing account.
Article 5     Except where otherwise provided, clearing members engaging in futures trading clearing and settlement business shall remit settlement fees according to the following provisions:
  1. Fees:
    1. NT$8 per party per contract for Taiwan Stock Exchange Stock Index Futures Contracts, Taiwan Stock Exchange Electronics Sector Index Futures Contracts, Taiwan Stock Exchange Banking and Insurance Sector Index Futures, Taiwan Stock Exchange Taiwan 50 Index Futures, Taiwan Stock Exchange NonFinance NonElectronics Sub-Index Futures Contracts, and GreTai Securities Market Stock Index Futures Contracts.
    2. NT$5 per party per contract for Taiwan Stock Exchange Mini-TAIEX Futures Contracts, Nifty 50 Futures Contracts, and single stock futures contracts with beneficial certificates as the underlying securities.
    3. NT$4 per party per contract for Taiwan Stock Exchange Stock Index Options Contracts, Taiwan Stock Exchange Electronics Sector Index Options Contracts, Taiwan Stock Exchange Banking and Insurance Sector Index Options Contracts, Taiwan Stock Exchange NonFinance NonElectronics Sub-Index Options Contracts, GreTai Securities Market Stock Index Options Contracts, and single stock options contracts with beneficial certificates as the underlying securities.
    4. NT$4 per party per contract for interest rate futures contracts.
    5. NT$4 per party per contract for gold futures contracts and NT Dollar-denominated Gold Futures Contracts; NT$2 per party per contract for Gold Option contracts.
    6. NT$2 per party per contract for stock option contracts and single stock futures contracts with stocks as the underlying securities.
    7. NT$9.6 per party per contract for USD/CNH FX Futures (RHF) and Options; NT$2 per party per contract for USD/CNT FX Futures (RTF) and Options.
    8. NT$3.2 per party per contract for Tokyo Stock Price Index Futures Contracts.
    9. NT$3.2 per party per contract for EUR/USD FX Futures Contracts and USD/JPY FX Futures Contracts.
  2. At the end of each month, TAIFEX shall issue billing statements for settlement fees incurred that month. The settlement fees shall be based upon the number of futures contracts settled that month. On the tenth day of the following month, TAIFEX shall compile transfer details for settlement fees incurred during the preceding month and forward them to the settlement banks. The settlement banks shall then transfer the outstanding settlement fees from the clearing margin account of the clearing member and its client margin account into the TAIFEX clearing account.
Article 6     The clearing member of a futures commission merchant that applies for position adjustment shall remit position adjustment fees according to the following provisions:
  1. Fees: NT$25 shall be charged for each adjustment application for a stock index futures contract, interest rate futures contract, forex futures and options contract, metals futures contract or option contract, stock index futures option contract, stock index option contract, stock option contract, and single stock futures contract.
  2. At the end of each month, TAIFEX shall issue billing statements for position adjustment fees incurred that month. The adjustment fees shall be based upon the number of contracts adjusted that month. On the tenth day of the following month, TAIFEX shall compile transfer details for adjustment fees incurred during the preceding month and forward them to the settlement banks. The settlement banks shall then transfer the outstanding adjustment fees from the client margin account of the consigned clearing member into the TAIFEX clearing account.
Article 7     When a futures commission merchant that is not a clearing member transfers its positions due to any of the following reasons, its consigned clearing member shall remit position transfer fees:
  1. The futures commission merchant applies to transfer its positions because it has changed clearing members.
  2. The futures commission merchant is required to have its positions liquidated by a clearing member and accept transfer of offsetting positions from the clearing member pursuant to relevant regulations.
  3. The futures commission merchant undergoes bankruptcy, dissolution, suspension of operations, or is required by laws or regulations to cease accepting trading orders from principals, and has its positions transferred to another futures commission merchant by the TAIFEX pursuant to relevant regulations.
     When a clearing member undergoes bankruptcy, dissolution, suspension of operations, is required by laws or regulations to cease accepting trading orders from principals, or fails to perform its clearing and settlement obligations, and has its positions transferred to another clearing member by the TAIFEX pursuant to relevant regulations, the clearing member shall remit position transfer fees.
    When a futures commission merchant accepts an application by a principal to handle position transfer pursuant to Article 57-3 of the TAIFEX Operating Rules or relevant regulations, its consigned clearing member shall remit position transfer fees.
    When a clearing member conducts position transfer pursuant to the preceding three paragraphs, the TAIFEX will collect the position transfer fees in the following manners:
  1. Fees: NT$25 shall be charged for each transfer application for any given futures trading contract..
  2. At the end of each month, the TAIFEX shall issue billing statements for position transfer fees incurred that month. The position transfer fees shall be based upon the total number of contracts transferred that month. On the tenth day of the following month, the TAIFEX shall compile book-entry account transfer details for the fees incurred during the preceding month and forward them to the settlement banks, and instruct the settlement banks to transfer the amounts payable from the payers' own clearing margin accounts and the client margin accounts into the TAIFEX account.
Article 8     If a clearing member that engages in clearing and settlement business for futures trading needs to authorize TAIFEX to conduct exchange settlement on its behalf using the clearing member itself as the declarant, it must pay an exchange settlement processing fee:
  1. Fee: NT$200 per settlement transaction.
  2. At the end of each month TAIFEX will calculate the exchange settlement processing fee based on the number of such transactions it has conducted on the clearing member's behalf that month, and send the clearing member a bill; on the 10th of the following month, TAIFEX will compile and turn over to each clearing bank the account transfer data regarding processing fees, and have the clearing bank transfer the funds payable from each clearing member's own clearing margin account and customer clearing margin account into TAIFEX's bank account.
Article 9     All fees payable under the provisions of this Fee Schedule shall be remitted by the relevant due date. TAIFEX may add a one percent delinquency charge to late payments for each day past the due date. For fees that remain unpaid one month after the due date, TAIFEX may impose a penalty of NT$500,000 or terminate the contract.
Article 10     Clearing fees and settlement fees for new products of the TAIFEX may be remitted from the launching date of the product until the end of the 12th month therefrom.
Article 11      When expiring positions in the daily futures contracts on TAIEX futures and TAIEX options listed on Eurex Exchange under licensing from TAIFEX are transferred into open positions in TAIFEX-listed TAIEX futures and TAIEX options, TAIFEX may charge the futures commission merchant a position transfer fee. The fee standards shall be separately prescribed by TAIFEX.
Article 12     This Fee Schedule shall be in force upon its approval by the competent authority. The same shall apply to any amendments.