Final Liquidity Switch from SGX MSCI Taiwan to SGX FTSE Taiwan on 30 Oct 2020

Final Liquidity Switch from SGX MSCI Taiwan to SGX FTSE Taiwan on 30 Oct

SGX will be carrying out a final liquidity switch from MSCI Taiwan Index Futures to FTSE Taiwan Index Futures on Friday, 30 Oct 2020. All open positions in MSCI Taiwan Futures held after the close of T-session on Friday, 30 Oct 2020 will be migrated to FTSE Taiwan Index Futures.

Before the Liquidity Switch

Before the liquidity switch on Friday, 30 October 2020, customers may continue to trade the MSCI Taiwan index Futures Oct20 contract. The far month contracts will be set to liquidation only on the platform. Customers who wish to trade the far month contracts can place their trades through the Dealing Desk at (65) 6535 1155. Call-in rates will be applicable. 

After the Liquidity Switch

Following the migration, the MSCI Taiwan Futures contract will be suspended from trading. Customers who do not wish to migrate their MSCI Taiwan Futures positions should liquidate their position on or before the close of T-session on Friday, 30 Oct 2020.

Timeline For Final Liquidity Switch 

EventDate and time
Suspension of trading for MSCI Taiwan
Friday, 30 October 2020 at 1.50pm (SGT)
Publication of Conversion Ratio and Conversion Price
Friday, 30 October 2020 at 4.00pm (SGT)
For Omnibus Accounts
Customer to provide close-out instructionsFriday, 30 October 2020 at 6.00pm (SGT)
Customer to provide the open positions of each underlying customer in Omnibus accountFriday, 30 October 2020 at 6.00pm (SGT)
Trade reflected in statement as T+1 trade 

Conversion Ratio for the Final Liquidity Switch

  • The MSCI Taiwan Futures positions will be converted to FTSE Taiwan Index Futures positions via a Conversion Ratio
  • Each contract month will have its own Conversion Ratio calculated from its corresponding Final Value
  • Each new FTSE Taiwan Index Futures position will be rounded to the nearest whole number of contracts.

Conversion Price for Final Liquidity Switch

  • All open positions in MSCI Taiwan Futures after the close of the T-session on Friday, 30 October 2020, which are not netted off in post-trade, will be closed out at the Final Value. Each contract month shall be closed out at its corresponding Final Value. The trades injected to effect the new FTSE Taiwan Index Futures positions will be at the FTSE Taiwan Index Futures Final Value. Each contract month shall be injected at its corresponding Final Value.

Daily Settlement Price (DSP) on 30 October 2020

  • The DSP of MSCI Taiwan Futures on Friday, 30 October 2020 shall be equivalent to the Final Value on 30 October 2020 for the respective series.

Should you have any query, you may contact your account manager, or call our Client Service Desk at (65) 6538 0500 or email futures@phillip.com.sg.