TAIWAN FUTURES EXCHANGE-Foreign Participation-Other Instruction on Trading/Clearing Procedure-Clearing -Margin Adjustment

Pursuant to Articles 5 and 6 of the Taiwan Futures Exchange Corporation Methods and Standards for Receipt of Clearing Margins
Adjustment standards	At the close of the regular session, TAIFEX will calculate the required margin levels. Should the variation between the new and existing margin levels reached adjusting level, TAIFEX may adjust the margin accordingly. Once an adjusted margin has been publicly announced, the adjustment shall take effect at the close of trading on the next regular session after its announcement.
Retroactivity	After a margin adjustment has been publicly announced and has taken effect, the newly adjusted margin level shall apply to all positions, including those open at the time of the change as well as subsequent transactions.
Special circumstances	Pursuant to Article 6 of the “Taiwan Futures Exchange Corporation Methods and Standards for Receipt of Clearing Margins,” TAIFEX may make additional adjustments to the margin if the margin calculated in accordance with these standards is not appropriate due to special circumstances.
Flow chart	The adjustment notice shall be published via the TAIFEX trading notice system and website.
Legal basis	Pursuant to Articles 5 and 6 of the “Taiwan Futures Exchange Corporation Methods and Standards for Receipt of Clearing Margins,” TAIFEX may adjust the said standards under special circumstances or when trial calculations performed by TAIFEX reveal the standards for receipt of clearing margins to be inappropriate.