Clearing
- Exchange Traded Derivatives Clearing
- Clearing Members
- Clearing Mechanism
- Clearing Mechanism Developing History
- Clearing Mechanism
- Clearing Process
- Intraday Profit & Loss Trial Balance
- Daily Settlement Price
- Formula for Calculating Final Settlement Prices
- Clearing Margin Accounts
- Position Management
- Safeguard System
- Products exempted and not exempted from liquidation on behalf of a principal in the after-hour session
- Notice for Foreign Currency Denominated Contracts Settlement
- Margining
- Market Information
Clearing
Position Transfer
Position transfer
- Position transfer application time: 9:00 am to 5:00 pm on business days
- Restrictions on position transfer application
Clearing members apply for positions and margin transfer must be limited to the following:- Transfer between different individual client accounts belonging to the same client at the same clearing member.
- Transfer between different individual client accounts belonging to the same client at different clearing members.
- Transfer between the proprietary account of a clearing member and the individual client account opened in the name of the clearing member at another clearing member.
- When a client defaults, positions in the individual client account are transferred to the clearing member's proprietary account.
- Other circumstances approved by TAIFEX.
- Position transfer application process
- Application and verify
Clearing member of transferor or transferee fill in the transfer position and margin details, and verify that it is correct. - The clearing member for the counterparties confirm
The clearing member for the counterparties confirm the transfer position and margin details, and verify that it is correct. - For applications for transfer of all positions and margins shall confirm details again at the end-of-day
After the day's transaction submission is completed, TAIFEX will send the position and margin details for confirmation and verification by clearing members for the parties who apply for all positions and margins transfer. - Successful Application
If the application is successful, TAIFEX will conduct a follow-up review
- Application and verify
- TAIFEX review and effective process
- Margin simulation
TAIFEX will execute a margin simulation to confirm that both the transferor and the transferee have adequate margins. - Margin deposit
TAIFEX will notify the clearing member to meet margin requirements if the margin is inadequate. - Position transfer
TAIFEX executes position and margin transfer. - Settlement amount to be paid or received for position transfer
TAIFEX calculates the settlement amount to be paid or received for a position transfer.
- Margin simulation
- Precautions on position transfer application
- The clearing member of either party is in default as defined under Article 53 of the Taiwan Futures Exchange OTC Derivative Clearing Operating Rules shall not apply for a position transfer.
- Except for client default and other special circumstances, position transfer is limited to other clearing accounts of the same institution.
- Except for client default, both the transferor and the transferee shall have adequate margins.
