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Item
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Description
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Ticker Symbol
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XJF
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Underlying
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USD/JPY FX rate
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Trading Hours
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‧Trading days are the same as TAIFEX business days in Taiwan
‧Regular trading session:08:45AM-4:15PM Taipei time, 08:45AM-2:00PM on the last trading day for the delivery month contract
‧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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USD 20,000
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Delivery Months
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4 consecutive quarterly months 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, which is calculated by dividing the value of trades by the volume within the last one minute of regular trading session, or as otherwise determined by TAIFEX according to the Trading Rules.
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Daily Price Limit
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3-Level Price Limits at ±3%, ±5% and ±7% of the daily settlement price of the preceding regular trading session; for the delivery month contract, the ±7% Price Limit will be replaced by ±12% starting from the after- hours trading session preceding the last trading day, to the close of trading on the last trading day upon expiration.
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Price Quotation
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JPY per USD
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Minimum Price Fluctuation
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JPY 0.01 per USD (JPY 200 per contract)
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Last Trading Day
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The second business day prior to the third Wednesday of the delivery month
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Final Settlement day
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The same day as the last trading day
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Final Settlement Price
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The mid rate of WMR Intraday Spot Rates for USD/JPY at 2:00PM Taipei Time on the Last Trading Day, rounded to 2 decimal places
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Settlement
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Cash settlement
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Position Limit
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‧Any trader'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 traders.
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Margin
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‧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 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 TAIFEX.
‧Payment/receipt of the principal's margins may be in New Taiwan Dollars or in a foreign currency publicly announced by TAIFEX, as stipulated between the principal and the futures commission merchant, with the futures commission merchant acting as foreign exchange settlement agent. The futures commission merchant shall conduct the required exchange settlements in accordance with the Regulations Governing the Reporting of Foreign Exchange Receipts and Disbursements or Transactions prescribed by the Central Bank of China(Taiwan).
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If any of the circumstances listed below occurs on the last trading day, the date shall be adjusted as specified below; however, TAIFEX may adjust the date based on prevailing conditions:
1. If the mid rate of the WMR Intraday Spot Rates for USD/JPY at 2:00 p.m. Taipei Time is not published due to an international foreign exchange market holiday or closure day, the last trading day shall be advanced to the preceding business day on which both the mid rate of the WMR Intraday Spot Rates for USD/JPY is scheduled to be published and the TAIFEX is open for business.
2. If trading cannot proceed due to a force majeure event, or there are other factors affecting the trading or settlement of the Contracts, the last trading day shall be postponed to the next business day on which both the mid rate of the WMR Intraday Spot Rates for USD/JPY is scheduled to be published and TAIFEX is open for business.
The WMR Intraday Spot Rates are provided by Refinitiv Limited or any of its affiliates ("Refinitiv"). Refinitiv shall not be liable for any errors in or delays in providing or making available the data contained within this service or for any actions taken in reliance on the same.
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