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Basis for adoption
Article 12 of the TAIFEX Trading Rules for Gold Futures Contracts
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Method for determining the TAIFEX Gold Futures Contract final settlement price:
- The final settlement price shall be the LBMA Gold Price AM as announced by the ICE Benchmark Administration Limited (IBA) on the same calendar day as the last trading day.
- When the LBMA Gold Price AM has for any reason not yet been generated before the TAIFEX executes procedures for settlement at expiration on the final settlement day, the final settlement price shall be the LBMA Gold Price PM as announced by the ICE Benchmark Administration Limited (IBA) after market close on the same calendar day as the last trading day.
- When the final settlement price cannot be determined pursuant to the two preceding subparagraphs or the final settlement price is obviously unreasonable, the TAIFEX shall determine the final settlement price by taking into reference, in order, the key gold market prices in New York, Chicago, Tokyo, and Hong Kong.
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