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Article 1 TAIFEX Mini Taiwan Stock Exchange Electronics Sector Index Futures Contract Specifications
┌────────┬─────────────────────┐
│Item            │Description                               │
├────────┼─────────────────────┤
│Underlying Index│Taiwan Stock Exchange Electronics Sector  │
│                │Index                                     │
├────────┼─────────────────────┤
│Ticker Symbol   │ZEF                                       │
├────────┼─────────────────────┤
│Trading Hours   │Trading days are the same as the regular  │
│                │business days of the Taiwan Stock Exchange│
│                │                                          │
│                │· Regular trading session: 08:45AM-1:45PM │
│                │  Taiwan time. 08:45AM-1:30PM on the last │
│                │  trading day for the delivery month      │
│                │  contract                                │
│                │                                          │
│                │· After-hours trading session: 03:00PM on │
│                │  trading day of TWSE- 05:00AM of the     │
│                │  following day; no after-hours trading   │
│                │  session on the last trading day for the │
│                │  delivery month contract                 │
├────────┼─────────────────────┤
│Contract Size   │NTD 500 x Mini Electronics Sector Futures │
│                │Price                                     │
├────────┼─────────────────────┤
│Delivery Months │Spot month, the next two calendar months, │
│                │and the next three quarterly months       │
│                │                                          │
│                │Upon expiration of near month, new        │
│                │contract month will be listed for trading │
│                │beginning on the next regular trading     │
│                │session                                   │
├────────┼─────────────────────┤
│Daily Settlement│The daily settlement price is the same as │
│Price           │that for the Electronics Sector Index     │
│                │Futures.                                  │
├────────┼─────────────────────┤
│Daily  Price    │+/- 10% of daily settlement price of      │
│Limits          │preceding regular trading session.        │
├────────┼─────────────────────┤
│Minimum Price   │0.05 index points (NTD 25)                │
│Fluctuation     │                                          │
├────────┼─────────────────────┤
│Last Trading Day│The third Wednesday of the delivery month │
├────────┼─────────────────────┤
│Settlement      │Cash settlement                           │
├────────┼─────────────────────┤
│Final           │The same day as the last trading day      │
│Settlement Day  │                                          │
├────────┼─────────────────────┤
│Final           │The average price of the underlying index │
│Settlement      │disclosed within the last 30 minutes prior│
│Price           │ to the close of trading on the final     │
│                │settlement day. The method used to        │
│                │calculate the final settlement price is   │
│                │prescribed by TAIFEX.                     │
├────────┼─────────────────────┤
│Position Limit  │Combined with the calculation of TE       │
│                │position limit                            │
│                │(on a pro rata basis of 8:1 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 purpose.   │
│                │                                          │
│                │· 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 investors.                │
├────────┼─────────────────────┤
│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 the 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 the TAIFEX.    │
└────────┴─────────────────────┘