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Article 5-1
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Where a securities investment trust ETF or active ETF that it issues conforms to the following circumstances, a SITE may, upon obtaining a resolution from its board of directors, complete a “Suspension of Trading Application” and submit the same along with relevant documents to the TWSE to apply for suspension of trading of the beneficial certificates of the aforementioned ETF and the additionally listed ETFs or active ETFs of the first-mentioned ETF on the centralized trading market during periods when the overseas market on which the component securities of said fund circulate or the exchange market of the investment object concerned is closed:
- where the overseas market on which the component securities of said fund circulate or the exchange market of the investment object concerned is closed but the centralized trading market continues trading for five consecutive business days (inclusive) or more.
- where the fund’s net asset value on the most recent business day as obtainable by calculation is less than or equal to NT$3 billion; or where the premium/discount rate for the two business days prior to the application date is equal to or exceeds three percent (inclusive) on both days.
The application under the preceding paragraph shall be submitted by the SITE at least four business days prior to the closure of the overseas market on which the component securities of said fund circulate or the exchange market of the investment object concerned.
The term “overseas market on which the component securities of said fund circulate or the exchange market of the investment object concerned” in paragraph 1, subparagraph 1 refers to a market where the securities or investment objects in which the fund invests account for 60 percent (inclusive) or more of the fund’s net asset value.
The term “premium/discount rate” in paragraph 1, subparagraph 2 refers to the ratio of the difference between the closing price per unit of beneficial interest of the ETF or active ETF on a given day, and the net asset value settled per unit of beneficial interest on the same day as reported after market close in accordance with Article 3, paragraph 5, subparagraph 2 of the TWSE Rules Governing Information Filing by Companies with TWSE Listed Securities and Offshore Fund Institutions with TWSE Listed Offshore Exchange-Traded Funds, to the above-mentioned net asset value per unit of beneficial interest.
If the SITE makes an application in accordance with paragraphs 1 and 2 and meets the requirements for suspension of trading, the TWSE may announce the suspension of trading of the beneficial certificates of the ETF concerned and the additionally listed ETFs or active ETFs thereof on the centralized trading market.
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