TAIWAN FUTURES EXCHANGE-Foreign Participation-Product-Equity Options-Equity Options

Common Stocks：2,000 shares of underlying security.
Exchange-traded securities investment trust funds：10,000 beneficial units of underlying security.
Offshore ETFs：Contract size will be determined by TAIFEX.

(Unless in the case of Contract Adjustments)

Exercise Style

European

Contract Months

Spot month, the next calendar month, and the next quarterly month

Strike Price Intervals

Strike Price	The Monthly Options Interval (Spot month and the next calendar month)	The Quarterly Options Interval (The next three quarterly months)
NTD 2 or above, but below NTD 10 (The minimum strike price is NT$2.)	NTD 0.2	NTD 0.4
NTD 10 or above, but below NTD 25	NTD 0.5	NTD 1
NTD 25 or above, but below NTD 50	NTD 1	NTD 2
NTD 50 or above, but below NTD 100	NTD 2.5	NTD 5
NTD 100 or above, but below NTD 250	NTD 5	NTD 10
NTD 250 or above, but below NTD 1000	NTD 10	NTD 20
NTD 1,000 or above	NTD 50	NTD 100

Strike(Exercise)Price

For listing series of new expiration months or series with new strike prices for existing expirations dates, TAIFEX shall, based on the given day's opening reference price of the underlying securities, consecutively introduce series with new strike prices according to the strike price interval above, until the highest and lowest strike prices cover 15 percent above and below the base price.

Premium Quotations

Contract premium is quoted by points
Premium< 5 points: 0.01 points
Premium≧5 points,<15 points: 0.05 points
Premium≧15 points,<50 points: 0.1 points
Premium≧50 points, <150 points: 0.5 points
Premium≧150 points, <1000 points: 1 point
Premium≧1,000 points: 5 points

Daily Price Limit

Common Stocks or ETFs comprising only domestic securities：Maximum change of premium (in points) shall be maximum change of value of the underlying asset divided by premium multiplier.
ETFs comprising foreign securities or offshore ETFs：Maximum change of premium (in points) shall be 15 percent above and below the opening quote of the underlying security (Unless in the case of contract adjustment).

Trading Hours

Underlying Security of a Stock Option 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

Last Trading Day

The third Wednesday of the contract month

Expiration Day

The same as the last trading day

Settlement

Cash settlement

Final Settlement Price

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

Position Limit

Any investor's aggregate open same-side positions in the Contract for various contract months at any time shall not exceed the limit standards announced by TAIFEX.
Institutional investors may apply for an exemption 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 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 day, unless otherwise provided.TAIFEX may lift the restriction on the next trading day 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 day, unless otherwise provided. TAIFEX may lift the restriction on the next trading day 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 day, unless otherwise provided. TAIFEX may lift the restriction on the next trading day when the aforesaid percentage of such contracts has fallen to a level below 56 percent.

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.)