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Item
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Description
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Underlying
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Gold with a purity of 0.9999
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Abbreviation
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NT Dollar Gold Futures
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Ticker Symbol
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TGF
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Trading Hours
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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
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Contract Size
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1 Taiwan tael (10 Taiwan cians or 37.5 grams)
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Delivery Months
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6 consecutive even months (Feb., Apr., Jun., Aug., Oct., Dec.)
Upon expiration of near month, new contract month will be listed for trading beginning on the next regular trading session.
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Daily Settlement Price
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The daily settlement price is the volume-weighted average price of all trades during the last minute of regular trading session, or as otherwise determined by TAIFEX according to the Trading Rules for NT Dollar Denominated Gold Futures.
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Price Limits
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3-Level Price Limits at ±5%, ±10% and ±15% of the daily settlement price of the preceding regular trading session.
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Price Quotation and Tick Size
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Quotations are in units of 1 Taiwan cian (3.75 grams).
Tick size is NTD 0.5/Taiwan cian (NTD 5 per contract).
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Last Trading Day
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Third-to-last business day of the delivery month.
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Final Settlement Day
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The first business day following the last trading day
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Final Settlement Price
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The final settlement price of the Contracts 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
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Settlement
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Cash settlement
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
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Position Limit
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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.
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Margin
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The initial and maintenance margin levels as well as the collection measures prescribed by the FCM to its customers shall not be less than those required by TAIFEX.
The initial margin and maintenance margin announced by TAIFEX shall be based on the clearing margin calculated according to Taiwan Futures Exchange Corporation Methods and Standards for Receipt of Clearing Margins, plus a percentage prescribed by TAIFEX.
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‧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 TGF.
‧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.
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