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Operation Directions for the Advance Collection of Funds and Securities by Securities Brokers in Brokerage Trading  CH

Amended Date: 2017.11.15
1     Where a securities broker accepts an order to trade securities with altered trading method as defined by the TWSE or securities for which the TWSE otherwise requires advance collection of funds and securities, the broker may register the trading only if it collects full or a certain percentage of the funds and securities in advance and puts a note on the trading order, except for securities with altered trading method and securities under disposal that are traded through a default-handling account, or a call (put) warrant liquidity providers account or call (put) warrant hedging account (excluding such accounts with an account number with the first three digits as "929"), or securities for which advance collection of funds and securities are otherwise required by the TWSE.
    The securities broker may collect payments of which advance collection is required, one business day before the day of the trading order.
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2     A securities broker accepting an order from a principal to buy securities with altered trading method or securities under disposal may register the trading only if it confirms that the remittance to the securities firm's settlement account for payments of advance collection is in the name of the principal itself as the remitter, provided the principal may make the remittance with the funds in the settlement account of the securities firm.
3     The engaged securities broker shall prepare detailed schedules (Attachments 1 and 2) on the receipts and payment of the funds and securities collected in advance under Article 1, on a daily basis, to be made available for review.
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4     If the trade ordered under Article 1 fails to be executed, the engaged securities broker shall immediately return the pre-collected funds and securities, note such return in the schedules in Article 3, bind the trading orders by date in book form, and safekeep them for at least one month to be made available for review, unless the settlement funds are to be kept in the settlement account of the securities firm with the consent of the customer.
    If the securities broker delays the return of the pre-collected payments beyond business hours, it may so return on the next business day.
    The issue of interest allocation in regard to payments collected in advance the business day before the trading order or returned the next business day if the trade fails to be executed will be negotiated by the securities broker and the investor and noted in records.
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