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┌────────┬─────────────────────┐
│Item │Description │
├────────┼─────────────────────┤
│Underlying │Brent Crude Oil │
├────────┼─────────────────────┤
│Abbreviation │Brent Crude Oil Futures │
├────────┼─────────────────────┤
│Ticker Symbol │BRF │
├────────┼─────────────────────┤
│Trading Hours │Trading days conform to regular exchange │
│ │trading days │
│ │Regular trading session: 8:45 - 13:45 │
│ │After-hours trading session: 15:00 on the │
│ │trading day - 5:00 on the following day. │
│ │The expiring contract on the last trading │
│ │day trades only until 3:30. In the event │
│ │that the expiring contract ends trading │
│ │during British Summer Time or that ICE │
│ │Futures Europe is conforming to Daylight │
│ │Saving Time in the U.S., trading in the │
│ │expiring contract will end at 2:30. │
├────────┼─────────────────────┤
│Contract Size │200 barrels (31,797.46 liters) │
├────────┼─────────────────────┤
│Delivery │spot month, next two calendar months, and │
│Months │next two contract months of June and │
│ │December │
│ │Upon expiration of the spot month contract│
│ │, the new contract month will be listed │
│ │for trading beginning in the next regular │
│ │trading session. │
├────────┼─────────────────────┤
│Daily Settlement│The daily settlement price is the │
│Price │volume-weighted average price of trades │
│ │transacted within the last one minute of │
│ │the regular trading session. If there are │
│ │no trades, TAIFEX will determine the price│
│ │in accordance with the Trading Rules. │
├────────┼─────────────────────┤
│Daily Price │Three-level price limits at ±5%, ±10% and │
│Limits │±20% of the previous regular trading │
│ │session's daily settlement price. In the │
│ │after-hours trading session preceding the │
│ │end of trading of the expiring contract, │
│ │the third-tier price limit of such │
│ │contract is ±30%. │
├────────┼─────────────────────┤
│Price Quotation │Prices are quoted per barrel │
│and │ │
│Minimum Price │The minimum price fluctuation is TWD 0.5 │
│Fluctuation │per barrel (TWD 100 per contract) │
├────────┼─────────────────────┤
│Last Trading │Trading in the spot month contract ends at│
│Day │19:30 London time on the last trading day │
│ │of the same spot month of ICE Brent Crude │
│ │Futures contract. In the event that ICE │
│ │Futures Europe makes temporary changes to │
│ │the trading hours because British Summer │
│ │Time and Daylight Saving Time in the U.S. │
│ │differ, trading will end at 18:30 London │
│ │time. │
│ │ │
│ │The last trading day for ICE Brent Crude │
│ │Futures contracts is the last business day│
│ │of the second month preceding the relevant│
│ │contract month. If the day on which │
│ │trading is due to cease would be either │
│ │the business day preceding Christmas Day │
│ │or the business day preceding New Year's │
│ │Day, then trading will cease at the end of│
│ │the next preceding business day. In the │
│ │event that ICE Futures Europe adjusts the │
│ │last trading day, TAIFEX will match that │
│ │adjustment. │
│ │ │
│ │If the last trading day occurs on a day │
│ │that is not a scheduled trading day for │
│ │TAIFEX's after-hours trading session, or │
│ │there is no trading due to a force-majeure│
│ │event, there will be no adjustment to the │
│ │last trading day. │
├────────┼─────────────────────┤
│Final Settlement│The final settlement price is based on the│
│Price │ICE Brent Index price announced by ICE │
│ │Futures Europe for the same spot month of │
│ │ICE Brent Crude Futures contract after the│
│ │end of trading on the last trading day. │
│ │This price will then be converted into │
│ │TWD by using the latest USD/TWD spot │
│ │exchange rate reported by Taipei Forex │
│ │Inc. at 11:00 Taiwan time before the end │
│ │of trading of the expiring contract, and │
│ │rounded half up to two decimal places. │
├────────┼─────────────────────┤
│Final Settlement│The first business day following the │
│Day │announcement of the ICE Brent Index price.│
├────────┼─────────────────────┤
│Settlement │Cash settlement. │
├────────┼─────────────────────┤
│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. │
├────────┼─────────────────────┤
│Margin │The trading margin and the maintenance │
│ │margin may not be lower than the publicly │
│ │announced TAIFEX standard for the initial │
│ │margin and the maintenance margin. │
│ │ │
│ │The initial margin and maintenance margin │
│ │announced by the TAIFEX shall be based on │
│ │the clearing margin calculated according │
│ │to the Taiwan Futures Exchange Corporation│
│ │Methods and Standards for Receipt of │
│ │Clearing Margins plus a percentage │
│ │prescribed by the TAIFEX. │
└────────┴─────────────────────┘
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