Article 5
If the difference between the current clearing margin level and the level calculated daily according to the provisions of Article 4, Article 4-3, or Article 4-4 for a stock index futures contract, interest-rate futures contract, gold futures contract, or NT Dollar-denominated Gold Futures reaches 10 percent or more, or when necessary based on market conditions, the TAIFEX may adjust the collection level of the clearing margin and round upwards in accordance with paragraph 3 of Article 4, paragraph 3 of Article 4-3, or paragraph 4 of Article 4-4.
The clearing margin for a stock index option contract according to the provisions of Article 4-1 may be adjusted when the movement of the amount derived by multiplying the underlying futures index by the value of each index point by the risk coefficient that is used, in addition to the premium, in calculating the margin reaches 10 percent or more, or when necessary based on market conditions. For contracts quoted in New Taiwan Dollars it shall be calculated in units of NT$1,000, with any portion less than NT$1,000 unconditionally rounded up to NT$1,000; for contracts quoted in US Dollars it shall be calculated in units of US$100, with any portion less than US$100 rounded up to US$100.
Clearing margin for Mini-TAIEX Futures Contracts is adjusted simultaneously in tandem with any adjustment to the clearing margin for TAIEX Futures Contracts; the adjusted amount shall governed by paragraph 4 of Article 4; the provisions of paragraph 1 do not apply to it.
The clearing margin for a gold option contract according to the provisions of Article 4-5 may be adjusted when the movement of the amount derived by multiplying the underlying gold price by the contract size by the risk coefficient that is used, in addition to the premium, in calculating the margin reaches 10 percent or more, or when necessary based on market conditions. It shall be calculated in units of NT$1,000, with any portion less than NT$1,000 unconditionally rounded up to NT$1,000.
For a single-stock futures contract with beneficial certificates as its underlying securities, the amount of the clearing margin calculated daily under Article 4-6 may be adjusted when its movement reaches 10 percent or more, or when necessary based on market conditions. It shall be calculated in units of NT$1,000, with any portion less than NT$1,000 unconditionally rounded up to NT$1,000.
For a single-stock option contract with beneficial certificates as its underlying securities, the clearing margin under Article 4-2, may be adjusted when the movement of the amount derived by multiplying the underlying security price by the strike price multiplier by the risk coefficient that is used, in addition to the premium, in calculating the margin reaches 10 percent or more, or when necessary based on market conditions. It shall be calculated in units of NT$1,000, with any portion less than NT$1,000 unconditionally rounded up to NT$1,000.
If the difference between the current clearing margin level and the level calculated daily according to the provisions of Article 4-7 for a forex future contract reaches 5 percent or more, or when necessary based on market conditions, the TAIFEX may adjust the collection level of the clearing margin and round upwards in accordance with Article 4-7, paragraph 3.
An adjustment to the level of a clearing margin by the TAIFEX pursuant to the provisions of this article shall be implemented after the close of trading on the next business day following the announcement date.
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Article 5-1
When the clearing margins of individual contracts require adjustment due to revision of contract specifications, the TAIFEX may reset the clearing margins in accordance with Articles 4 to 4-7for implementation from the date the revised contract specifications take effect.
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