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MSCI Taiwan (USD) Index Futures

Introduction

The MSCI Taiwan  Index is designed to measure the performance of the large and mid cap segments of the Taiwan market. As at 31 May 2020, there are 88 constituents, the index covers about 85% of the free float-adjusted market capitalization in Taiwan. 

Uses of MSCI Taiwan (USD) Index Futures

The introduction of the MSCI Taiwan (USD) Index Futures contract aims to meet the trading and hedging needs of investors who have exposure to large and mid-cap companies in Taiwan in a cost effective manner.  Asset managers and banks can make use of MSCI Taiwan (USD) Index Futures for cash equitisation and manage market, settlement and liquidity risks without cross zone trading issue. 

The constituent list and vendor codes can be found in MSCI websites https://www.msci.com/constituents and https://www.msci.com/ticker-codes respectively. 


Updated 12 Aug 2020


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CONTRACT SUMMARY

Item Contract Terms
Underlying Index MSCI Taiwan Index
HKATS Code MTW
Trading Currency USD
Index Currency TWD
Contract Multiplier US$100 per index point
Minimum Fluctuation 0.10
Contract Months 2 nearest serial months and the following 4 quarterly months
Pre-Market Opening Period  8:30 a.m. - 8:45 a.m.
Trading Hours
8:45 a.m.- 4:30 p.m. (T); 5:15 p.m. -3:00 a.m. (T+1)
(Expiring contract month closes at 1:45 pm on the Last Trading Day)

Last Trading Day Second last Hong Kong business day of the month. If it falls on a Taiwan public holiday, the Last Trading Day will be the preceding Hong Kong and Taiwan business day.
Final Settlement Price

The average of the underlying Index values on the LTD taken at (i) 1-minute intervals during the last 25 minutes of trading on the Taiwan Stock Exchange Corporation before the end of the continuous trading session, and (ii) the closing index value, rounded to the nearest 2 decimal places

Transaction Costs Exchange Fee US$1.00
Commission Levy US$0.07
Commission Rate Negotiable

Updated 28 Sep 2020

TRADING FEES AND COMMISSION

Trading Fee and Levies
Exchange Fee US$1.00 per contract per side
Commission Levy US$0.07 per contract per side
Investor Compensation Levy* HK$0.00 per contract per side
Total US$1.07 per contract per side
Commission Negotiable
The amount indicated above is subject to change from time to time.

Updated 26 Jun 2020

Updated 12 Aug 2020