| Items |
Descriptions |
|
Underlying Index |
MSCI Taiwan Index |
|
Ticker Symbol |
MSO |
| Exercise Style |
European |
| Multiplier |
US$20 per index point |
| Expiration Months |
Spot month, the next two calendar months,
and the next two quarterly month |
| Strike Price Interval |
- Strike price below 150 points: 2.5 index points in spot month and the next two calendar months, 5 index points in the two quarterly months
- Strike price between 150 and 400 points: 5 index points in spot month and the next two calendar months, 10 index points in the two quarterly months
- Strike price between 400 and 600 points: 10 index points in spot month and the next two calendar months, 20 index points in the two quarterly months
- Strike price above 600 points: 20 index points in spot month and the next two calendar months, 40 index points in the two quarterly months
|
|
Strike (Exercise) Price |
- When listing new contract months, an at-the-money series is listed based on the previous day's closing price of the underlying index rounded down to the nearest multiples of strike price interval, and
1. For the spot month and the next two calendar months: five in-the-money series and five out-of-the-money series are listed
2. For the next two quarterly months: three in-the-money series and three
out-of-the-money series are listed
- Up to the 5th business days before expiration,
1.For the spot month, and the next two calendar months: additional series are added to maintain at least 5 in-the-money and 5 out-of-the-money strike prices
2.For the next two quarterly months: additional series are added to maintain at least 3 in-the-money and 3 out-of-the-money strike prices
|
|
Minimum Price Fluctuation |
below 0.5 points: 0.005 points (US$ 0.1)
0.5 -- 2.5 points: 0.025 points (US$ 0.5)
2.5 -- 25 points: 0.05 points (US$ 1)
25 -- 50 points: 0.25 points (US$ 5)
above 50 points: 0.5 points (US$ 10) |
| Daily Price Limit |
+/- 7% of previous day's closing price of the underlying index |
| Position Limit |
1.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 the TAIFEX
2.Institutional
investors may apply for an exemption from the
above limit on trading accounts for hedging
purpose
3.These position limits are not applicable to
omnibus accounts |
|
Trading Hours |
08:45am-1:45pm on regular business days of the Taiwan Stock Exchange.
08:45AM-1:30PM on
the last trading day for the delivery month
contract. |
| Last Trading Day |
The third Wednesday of the delivery month |
| Expiration Date |
The same day as
the last trading day |
|
Final Settlement Price |
The average price
of the underlying index provided by Reuters
within the last 30 minutes prior to the close of
trading on the final settlement day.
Reuters is the
information vendor for Morgan Stanley Capital
International (MSCI). |
| Settlement |
Cash settlement. A contract that is in-the-money shall be exercised automatically |
|
※Taiwan Futures Exchange Corporation Trading Rules for MSCI Taiwan Stock Index Options Contract
※TAIWAN FUTURES EXCHANGE
MSCI Taiwan Index Options Operational Plan
The Contract is not sponsored, endorsed, sold or promoted by Morgan Stanley Capital International Inc. (“MSCI”), any affiliate of MSCI or any other party involved in, or related to, making or compiling any Indexes (the “MSCI Parties”). The Contract has not been passed on by any of the MSCI Parties as to their legality or suitability with respect to any person or entity. None of the MSCI Parties guarantees the originality, accuracy and/or completeness of the underlying index or any data included therein. None of the MSCI Parties makes any express or implied warranties, and expressly disclaim all warranties of merchantability and fitness for a particular purpose or use with respect to the Contract, the underlying index or any data included therein. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages, claims, losses or expenses relating to any futures or options contracts or the underlying index, including, without limitation, any such damages, claims, losses or expenses caused by any errors or delays in calculating or disseminating the underlying index. None of the MSCI parties has any obligation to take the needs of the issuers of the Contracts, the owners of the Contracts or the Exchange into consideration in determining, composing or calculating the Indexes. None of the MSCI Parties is responsible for or have participated in the determination of the timing of, prices at, or quantities of the Contracts to be issued or in the determination or calculation of the equation by which the Contracts are settled. |
