TAIWAN FUTURES EXCHANGE-Products-Equity Futures-Single Stock Futures /ETF Futures

Underlying Security of a Single Stock Futures Contract is a stock or a domestic component securities ETF：08:45AM - 1:45PM Taiwan time Monday through Friday of the regular business days of the Underlying
Underlying Security is an ETF with foreign component securities or an offshore ETF：08:45AM - 4:15PM Taiwan time Monday through Friday of the regular business days of the Underlying
08:45AM - 1:30PM 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 last trading day for the delivery month contract (applicable contracts)

Contract Size

Common Stocks：2,000 shares of underlying security. TAIFEX may add contracts with contract size of 100 shares of underlying securities.
Exchange-traded securities investment trust funds：10,000 beneficial units of underlying security. TAIFEX may add contracts with contract size of 1,000 beneficial units of underlying securities.
Offshore ETFs：Contract size will be determined by TAIFEX.
When there is a contract adjustment in accordance with regulations, the contract size shall accordingly adjust.(Please refer to Contract Adjustments)

Delivery Months

Spot month, the next calendar month, 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 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 of regular trading session, or as otherwise determined by TAIFEX according to the Trading Rules.
Contracts with the same underlying and delivery month shall have the same daily settlement price. (Unless, in the case of contract adjustment, this rule shall not apply)

Daily Price Limit

Common Stocks or ETFs comprising only domestic securities：±10% of daily settlement price of preceding regular trading session.
ETFs comprising foreign securities or offshore ETFs：±15% of daily settlement price of preceding regular trading session.

(Unless in the case of contract adjustment)

Minimum Price Fluctuation

Underlying Securities	Price	Minimum Price Fluctuation
Common Stocks	Under NTD 10	NTD 0.01
	NTD 10 and above, but less than NTD 50	NTD 0.05
	NTD 50 and above, but less than NTD 100	NTD 0.1
	NTD 100 and above, but less than NTD 500	NTD 0.5
	NTD 500 and above, but less than NTD 1,000	NTD 1
	NTD 1,000 and above	NTD 5
ETFs	Under NTD 50	NTD 0.01
ETFs	NTD 50 and above	NTD 0.05

Last Trading Day

The third Wednesday of the delivery month

Final Settlement Day

The same as the last trading day

Final Settlement Price

The price is computed by applying the Simple Arithmetic Average Price Method to prices of the underlying stock taken within 60 minutes prior to close of trading.Method used to calculate final settlement price.

Settlement

Cash settlement

Position Limit

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.
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.
If the underlying security is a common stock and the number of shares represented by the overall market open positions of a single stock futures and an equity option on the same underlying security at the close of any trading day exceeds 15 percent of the total number of outstanding shares of the underlying security, TAIFEX may impose a restriction on adding new positions and only allow closing out existing positions on the following trading session, unless otherwise provided.TAIFEX may lift the restriction on the next trading session when the aforesaid percentage of such contracts has fallen to a level below 12 percent.
If the underlying security is an exchange-traded securities investment trust fund and the number of beneficial units represented by the overall market open positions of a single stock futures and an equity option on the same underlying security at the close of any trading day exceeds 70 percent of the total number of beneficial units already issued by the fund, TAIFEX may impose a restriction on adding new positions and only allow closing out existing positions on the following trading session, unless otherwise provided. TAIFEX may lift the restriction on the next trading session when the aforesaid percentage of such contracts has fallen to a level below 56 percent.
If the underlying security is an offshore ETF and the number of units represented by the overall market open positions of a single stock futures and an equity option on the same underlying security at the close of any trading day exceeds 70 percent of the total number of units of that fund offered and sold domestically within the ROC territory, TAIFEX may impose a restriction on adding new positions and only allow closing out existing positions on the following trading session, unless otherwise provided. TAIFEX may lift the restriction on the next trading session when the aforesaid percentage of such contracts has fallen to a level below 56 percent.

Margin

The initial and maintenance margin levels as well as the collecting measures prescribed by the FCM to its customers shall not be less than those required by TAIFEX.
The margin levels will be adjusted and announced by TAIFEX in accordance with Taiwan Futures Exchange Corporation Methods and Standards for Receipt of Clearing Margins.

If the last trading day falls on a holiday or if trading cannot proceed on that day due to a force majeure event, the next business day shall be the last trading day. (Please refer to Trading Rules.)