TAIFEX Discloses Calculated Opening Prices During Pre-trading Session And Introduces MWP Order May 12
In addition to market and limit order, TAIFEX introduces “Market with Protection (MWP) ” order from May 12, 2014.
A “market with protection” order does not need to specify price when placed. After MWP is entered and received by TAIFEX trading system, a buy MWP will be converted to a limit order with the price of the current best bid plus a protected range, and a sell MWP will be converted to a limit order with the price of the current best offer minus a protected range. However, when no corresponding bid/offer is available, the MWP will be rejected.
MWP orders are acceptable only during trading session and are restricted to FOK or IOC, ROD is not acceptable.For futures contracts, single and time spread orders are acceptable. For option contracts, only single orders are acceptable.
(3)Pre-Margin calculation and Risk Management: Same as market orders.