Contract Specifications for SGX MSCI Taiwan Index Futures (TW)
|EXCHANGE||Singapore Exchange (SGX)|
|UNDERLYING STOCK INDEX||MSCI Taiwan IndexSM|
|TRADING HOURS ON LAST TRADING DAY||8.45 am – 1.50 pm|
|CONTRACT SIZE||U.S $100 x SGX MSCI Taiwan Index Futures price|
|CONTRACT MONTHS||2 nearest serial months and 12 quarterly months on a March, June, September and December cycle.|
|MINIMUM PRICE FLUCTUATION||0.1 index points (equivalent to US$ 10)|
|LAST TRADE DATE||Second last business day of the contract month|
|SETTLEMENT TYPE||Financial Settlement|
|DAILY PRICE LIMIT||
(a) Whenever the Initial Price Limits are reached, i.e. the price moves by 10% in either direction from the previous day’s Daily Settlement Price (“DSP”), a Cooling Off Period is triggered where trading within the Initial Price Limits shall continue for a period of ten minutes.
(b) After the Cooling Off Period is over, the Final Price Limits, i.e the price moves by 15% in either direction from the previous day’s DSP, come into effect and shall apply for the rest of the trading day. No trades are allowed to take place at prices beyond the Final Price Limits.
There shall be no price limits on the Last Trading Day for the expiring contract.
With regards to the T+1 session, the Daily Settlement Price (DSP) derived in the T session that just ended will be the reference price to determine price limits.
|FINAL SETTLEMENT PRICE||The Final Settlement Price shall be the average of the MSCI Taiwan IndexSM values on the Last Trading Day taken at 1-minute intervals during the last twenty-five (25) minutes of trading on the MSCI Taiwan IndexSM preceding the commencement of the closing auction session, and the closing index value. The Final Settlement Price shall be rounded to two (2) decimal places.|
|POSITION LIMITS||A person shall not own or control more than 10,000 contracts net long or net short in all contract months combined.|
|ADDITIONAL TRADING FACILITIES||Negotiated Large Trade Facility:
Minimum 50 lots.
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