Search Result

Title: TAIFEX AUD/USD FX Futures Contract Specifications
Date: 2018.01.12 ( Amended )

Article Content

 
1
┌───────┬──────────────────────┐
│Item          │Description                                 │
├───────┼──────────────────────┤
│Ticker Symbol │XAF                                         │
├───────┼──────────────────────┤
│Underlying    │AUD/USD FX rate                             │
├───────┼──────────────────────┤
│Trading Hours │‧Trading days are the same as bank business│
│              │  days in Taiwan                            │
│              │‧Regular trading session:08:45AM-4:15PM    │
│              │  Taipei time, 08:45AM-2:00PM on the last   │
│              │  trading day for the delivery month        │
│              │  contract                                  │
│              │‧After-hours trading session: 05:25PM on   │
│              │  trading day - 05:00AM of the following day│
│              │  ;no after-hours trading session on the    │
│              │  lasttrading day for the delivery month    │
│              │  contract                                  │
├───────┼──────────────────────┤
│Contract Size │AUD 25,000                                  │
├───────┼──────────────────────┤
│Delivery      │‧4 consecutive quarterly months            │
│Months        │‧Upon expiration of near month, new        │
│              │  contract month will be listed for trading │
│              │  beginning on the next regular trading     │
│              │  session                                   │
├───────┼──────────────────────┤
│Daily         │The daily settlement price is the volume    │
│Settlement    │weighted average price, which is calculated │
│Price         │by dividing the value of trades by the      │
│              │volume within the last one minute of regular│
│              │trading session, or as otherwise determined │
│              │by TAIFEX according to the Trading Rules    │
├───────┼──────────────────────┤
│Price Limits  │3-Level Price Limits at ±3%, ±5% and ±7% of │
│              │the daily settlement price of the preceding │
│              │regular trading session; for the delivery   │
│              │month contract, the ±7% Price Limit will be │
│              │replaced by ±12% starting from the after-   │
│              │hours trading session preceding the last    │
│              │trading day, to the close of trading on the │
│              │last trading day upon expiration.           │
├───────┼──────────────────────┤
│Price         │USD per AUD                                 │
│Quotation     │                                            │
├───────┼──────────────────────┤
│Minimum Price │USD 0.0001 per AUD (USD 2.5 per contract)   │
│Fluctuation   │                                            │
├───────┼──────────────────────┤
│Last Trading  │The third Wednesday of the delivery month   │
│Day           │                                            │
├───────┼──────────────────────┤
│Final         │The same day as the last trading day        │
│Settlement Day│                                            │
├───────┼──────────────────────┤
│Final         │The mid rate of WM/Reuters Intraday Spot    │
│Settlement    │Ratesfor AUD/USD at 2:00PM Taipei Time on   │
│Price         │the Last Trading Day, rounded to 4 decimal  │
│              │places                                      │
├───────┼──────────────────────┤
│Settlement    │Cash settlement                             │
├───────┼──────────────────────┤
│Position Limit│‧Any trader'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, with the exception of│
│              │  undisclosed omnibus accounts, which       │
│              │  accounts are subject to the limits for    │
│              │  institutional traders.                    │
├───────┼──────────────────────┤
│Margin        │‧The trading margin and the maintenance    │
│              │  margin may not be lower than the publicly │
│              │  announced TAIFEX standard for the initial │
│              │  margin and the maintenance margin.        │
│              │‧The initial margin and maintenance margin │
│              │  announced by TAIFEX shall be based on the │
│              │  clearing margin calculated according to   │
│              │  the Taiwan Futures Exchange Corporation   │
│              │  Methods and Standards for Receipt of      │
│              │  Clearing Margins plus a percentage        │
│              │  prescribed by TAIFEX.                     │
│              │‧Payment/receipt of the principal's margins│
│              │  may be in New Taiwan Dollars or in a      │
│              │  foreign currency publicly announced by    │
│              │  TAIFEX, as stipulated between the         │
│              │  principal and the futures commission      │
│              │  merchant, with the futures commission     │
│              │  merchant acting as foreign exchange       │
│              │  settlement agent. The futures commission  │
│              │  merchant shall conduct the required       │
│              │  exchange settlements in accordance with   │
│              │  the Regulations Governing the Reporting of│
│              │   Foreign Exchange Receipts and            │
│              │  Disbursements or Transactions prescribed  │
│              │  by the Central Bank of the Republic of    │
│              │  China (Taiwan).                           │
└───────┴──────────────────────┘
    If any of the following circumstances occurs on the last trading day, then the next business day shall be the last trading day, provided that the TAIFEX may adjust that date in view of the following circumstances:
  1. The last trading day falls on a TAIFEX holiday, or trading cannot proceed due to a force majeure event.
  2. The mid rate of WM/Reuters Intraday Spot Rates for AUD/USD at 2:00PM Taipei Time is not produced due to national holidays in major financial centers.
  3. Other factors affect the trading or settlement of the Contracts.
    The WM/Reuters Intra-Day Spot Rates are provided by Thomson Reuters. Thomson Reuters shall not be liable for any errors in or delays in providing or making available the data contained within this service or for any actions taken in reliance on the same.