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Taiwan Stock Exchange Corporation Rules Governing the Trading of Convertible Corporate Bonds and Bond Conversion Entitlement Certificates  CH

Amended Date: 2011.01.12
Article 1     These Rules are adopted in accordance with Paragraph 2, Article 55 of the TWSE Operating Rules.
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Article 2     For the trading of convertible corporate bonds on the TWSE market, automated computer trading is adopted.
    Unless otherwise provided in theses Rules, the related provisions of the TWSE Operating Rules shall apply mutatis mutandis to the trading in the preceding paragraph.
Article 3     In the trading through competitive auction of convertible corporate bonds initially listed, the public sale price before listing shall be a reference standard for calculating the price fluctuation limits.
Article 4     Each trading unit of convertible corporate bonds has a par value of NT$ 100,000. Trading orders shall be given in a single trading unit or multiples thereof.
    Sale of the convertible corporate bonds delivered by a securities firm for settlement shall conform to the provision on trading unit specified in the preceding paragraph, unless the buyer securities firm otherwise agrees.
Article 5     The price for trading orders for convertible corporate bonds shall be on the basis of a par value of NT$ 100, and Subparagraph 2, Article 62 of the TWSE Operating Rules shall apply mutatis mutandis to the fluctuation unit of the price.
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Article 6     Trading of convertible corporate bonds shall all be ex-dividend trading.
    A buyer shall deliver to the seller the interest due the seller by the trade date together with the trade amount.
    The interest mentioned in the preceding paragraph shall be calculated on the basis of a month of 30 days from the interest-bearing commencement date of the current period until the trade date.
Article 7     The daily price fluctuation limits on convertible corporate bonds shall follow the regulations for stocks.
Article 8     Unless otherwise provided in these Rules, the provisions of the TWSE Operating Rules in connection with listed stocks shall apply mutatis mutandis to the trading of bond conversion entitlement certificates on the TWSE market.
Article 9     The daily price fluctuation limits on trading through competitive auction in regard to initial listings of bond conversion entitlement certificates shall be determined with reference to the closing price of the converted stocks on the previous day minus the value difference on rights; provided where the difference on rights cannot be determined, the price fluctuation limit shall be determined with reference to the closing price of the converted stocks on the previous day. Where there is no closing price for the converted stocks on the previous day, the price determined by the principle set out in Subparagraph 2, Paragraph 2, Article 58-3 of the TWSE Operating Rules shall be used.
    The difference on rights in the preceding paragraph shall be calculated on the basis of the predictive number for distributions of shareholder equity that the listed company regularly reports to the TWSE in accordance with the listing contract, provided the listed company shall bear full responsibility for any discrepancy between the above reported number and the actual number.
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Article 10     The securities-related provisions of the TWSE Operating Rules shall apply mutatis mutandis to the clearing and settlement of convertible corporate bonds and bond conversion entitlement certificates.
Article 11     After a trade of convertible corporate bonds is executed, the fee schedule of the processing fee which the appointed securities broker may charge from the principal shall be formulated by the TWSE and approved by the competent authority for approval. After a trade of bond conversion entitlement certificates is executed, the fee schedule of the processing fee which the appointed securities broker may charge from the principal shall follow the fee schedule for stocks.
Article 12     These Rules shall take effect after having been submitted to and approved by the competent authority.