TAIWAN FUTURES EXCHANGE-Products-Equity Index Options-Finance Sector Index Options

Item	Description
Underlying Index	Taiwan Stock Exchange Finance and Insurance Sector Index
Ticker Symbol	TFO
Exercise Style	European
Multiplier	NTD 250 (per index point)
Expiration Months	Spot month and the next two calendar months
Strike Price Interval	Strike price below 600 points: 5 index points in the spot month, 10 index points in the next two calendar months Strike price at or above 600 points but below 2,000 points: 10 index points in the spot month, 20 index points in the next two calendar months Strike price at or above 2,000 points: 20 index points in the spot month, 40 index points in the next two calendar months
Strike（Exercise）Price	For listing series of new expiration months or series with new strike prices for existing expiration dates, TAIFEX shall, based on the previous business day's closing price of the underlying index, consecutively introduce series with new strike prices according to the strike price interval above, until the spot month and the next two calendar months , the highest and lowest strike prices should cover 15 percent above and below the underlying index
Premium Quotation	<2 points: 0.02 points (NTD 5) >=2 points, <10 points: 0.1 points (NTD 25) >=10 points, < 100 points: 0.2 points (NTD 50) >=100 points, <200 points: 1 point (NTD 250) >= 200 points: 2 points (NTD 500)
Daily Price Limit	+/- 10% of previous day’s closing price of underlying index
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 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.
Trading Hours	08:45AM - 1:45 PM Taiwan time Monday through Friday of the regular Taiwan Stock Exchange business days 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 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.Method used to calculate final settlement price.
Settlement	Cash settlement. An option that is in-the-money and has not been liquidated or exercised on the expiration day shall, in the absence of contrary instructions delivered to the Exchange by the Clearing Member representing the option buyer, be exercised automatically.

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.)