TAIWAN FUTURES EXCHANGE-Products-Equity Index Futures-TIP Taiwan BIO Futures

Item	Description
Underlying Index	TIP Taiwan Market Biotechnology and Medical Care Index
Ticker Symbol	BTF
Trading Hours	08:45AM-1:45PM Taiwan time Monday through Friday of the regular business days of the Taiwan Stock Exchange and the Taipei Exchange 08:45AM-1:30PM on the last trading day for the delivery month contract
Contract Size	NTD 50 x TIP Taiwan BIO Futures Price
Delivery Months	Spot month, the next two calendar months, and the next three quarterly months
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 or otherwise determined by TAIFEX according to the Trading Rules.
Daily Price Limit	+/- 10% of previous day's settlement price
Minimum Price Fluctuation	1 index point (NTD 50)
Last Trading Day	The third Wednesday of the delivery month
Settlement	Cash settlement
Final Settlement Day	The same day as the last trading day
Final Settlement Price	The average price of the underlying index disclosed within the last 30 minutes prior to the close of trading on the final settlement day. The method used to calculate the final settlement price is described by TAIFEX.
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. 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.

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 see “Taiwan Futures Exchange Corporation Trading Rules for TIP Taiwan Market Biotechnology and Medical Care Index Futures Contracts” for further details)

* TIP Taiwan Market Biotechnology and Medical Care（TIP Taiwan BIO）Index is owned by the Taiwan Index Plus Corporation（TIP） and the Taipei Exchange（TPEx）. The use of TIP Taiwan BIO index has been authorized by the TIP and the TPEx. The TIP and the TPEx make no warranties and bear no liability with respect to TIP Taiwan BIO Futures.