TAIWAN FUTURES EXCHANGE-Products-Commodity Options-Gold Options

Item	Description
Underlying	Gold with a purity of 0.9999
Abbreviation	Gold Options (gold call, gold put)
Ticker Symbol	TGO
Exercise Style	European(exercisable on expiration date only)
Contract Size	5 Taiwan taels (50 Taiwan cians or 187.5 grams)
Expiration Months	3 consecutive even months (February, April, June, August, October, December). Upon expiration of near month, new contract month will be listed for trading beginning on the next regular trading session.
Strike Price Interval	Strike price below NTD 2,000: NTD 5 in the spot month, NTD 25 in the next two even months Strike price at or above NTD 2,000 but below NTD 4,000: NTD 25 in the spot month, NTD 50 in the next two even months Strike price at or above NTD 4,000: NTD 50 in the spot month, NTD 100 in the next two even months
Strike (Exercise) Price	When listing series of new expiration months, one series with at-the-money strike price is listed in the regular trading session based on the daily settlement price of the nearest month NT Dollar gold futures contract rounded down to the nearest multiples of strike price interval, and based on said strike price, five in-the-money series and five out-of-the-money series are listed in the regular trading session. Before expiration, additional series are added in the regular trading session to maintain at least 5 in- and 5 out-of-the-money strike prices.
Premium Quotation	0.5 points (NTD 25)
Price Limits	3-Level Price Limits at ±5%, ±10% and ±15% of the daily settlement price of the preceding regular trading session of nearest month NT Dollar gold futures contract.
Position Limit	Open positions held on either side of the market at any time shall not exceed the limit standard announced by TAIFEX. “Open positions on either side of the market” means the total of call options bought and put options sold or the total of call options sold and put options bought. Institutional investors may apply for an exemption from the above limit on trading accounts for hedging purposes. The 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	Trading days conform to regular exchange trading days Regular trading session:08:45AM-04:15PM Taiwan time 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
Last Trading Day	Third last business day of the delivery month.
Expiration Day	The first business day following the last trading day
Final Settlement Price	The final settlement price shall be set on the basis of the LBMA Gold Price AM announced by ICE Benchmark Administration Limited(IBA) on the same calendar day as the last trading day and the USD/TWD spot exchange rate at 11 AM Taiwan time announced by Taipei Forex Inc. on the last trading day, after conversion for weight and fineness. The formula for its calculation is as follows: (LBMA Gold Price AM ÷ 31.1035 × 3.75 × 0.9999 ÷ 0.995 )× the USD/TWD spot exchange rate at 11 AM
Settlement	Cash settlement. A contract that is in-the-money shall be exercised automatically. In addition, according to " Taiwan Futures Exchange Operational Key Points of Clearing and Settlement for Futures Commission Merchants and Clearing Members", market participants with open positions may apply for delivering or receiving the physical gold that is registered to and regulated by Taipei Exchange for trading

1 troy ounce = 31.1035 grams, 1 Taiwan cian = 3.75 grams; the LBMA Gold Price AM is on 0.995 gold, while the underlying of this contract is 0.9999 gold.
If the last trading day falls on a national holiday, or a day on which the London gold market is closed, or if trading may not proceed on that day due to a force majeure event, the next business day shall be the last trading day. However, TAIFEX may make adjustments as circumstances warrant.(Please refer to Trading Rules.)
ICE BENCHMARK ADMINISTRATION LIMITED MAKES NO WARRANTY, EXPRESS OR IMPLIED, EITHER AS TO THE RESULTS TO BE OBTAINED FROM THE USE OF THE LBMA GOLD PRICE AND/OR THE FIGURE AT WHICH THE LBMA GOLD PRICE STANDS AT ANY PARTICULAR TIME ON ANY PARTICULAR DAY OR OTHERWISE. ICE BENCHMARK ADMINISTRATION LIMITED MAKES NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE FOR USE WITH RESPECT TO TAIFEX TGO.
LBMA Gold Price is a trade mark of Precious Metals Prices Limited.
Copying, dissemination and use of LBMA Gold Price without the express written permission of IBA is prohibited.