TAIWAN FUTURES EXCHANGE-Products-FX Futures-GBP/USD FX Futures

Item	Description
Ticker Symbol	XBF
Underlying	GBP/USD FX rate
Trading Hours	Trading days conform to regular exchange trading days 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
Contract Size	GBP 20,000
Delivery Months	4 consecutive quarterly months Upon expiration of near month, new contract month will be listed for trading beginning on the next regular trading session
Daily Settlement Price	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.
Price Limits	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.
Price Quotation	USD per GBP
Minimum Price Fluctuation	USD 0.0001 per GBP (USD 2 per contract)
Last Trading Day	2 business days prior to the The third Wednesday of the delivery month
Final Settlement Day	The same day as the last trading day
Final Settlement Price	The mid rate of WMR Intraday Spot Rates for GBP/USD at 2:00PM Taipei Time on the Last Trading Day, rounded to 4 decimal places
Settlement	Cash settlement
Position Limit	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.
Margin	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 the Republic of China (Taiwan).

In the event that any of the following circumstances occurs on the scheduled last trading day, the date shall be adjusted as specified below. However, TAIFEX may adjust this date based on prevailing market conditions:
- If the mid rate of WMR Intraday Spot Rates for GBP/USD at 2:00PM Taipei Time is not published due to national holidays in major financial centers, the last trading day shall be advanced to the preceding business day on which both TAIFEX is open and the WMR Intraday Spot Rates for GBP/USD is scheduled to be published.
- If trading cannot proceed due to force majeure events or 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 TAIFEX is open and the WMR Intraday Spot Rates for GBP/USD is scheduled to be published.
(Please refer to Trading Rules.)
Effective June 18, 2025, the last trading day of TAIFEX FX Futures Contracts has been amended. However, for contracts with a delivery month in or before June 2026, the original provisions shall apply. Please refer to the official notice for further details
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.