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Article 9
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The calculation basis for the price fluctuation limits on beneficial certificates except offshore ETF beneficial certificates for the first day of listing are determined on the business day before listing in accordance with the following rules:
- For a securities investment trust fund offered by a securities investment trust enterprise, the net asset value per unit of beneficial interest on the most recent business day, obtainable by calculation pursuant to Article 72 of the Regulations Governing Securities Investment Trust Funds.
- For a futures trust fund offered by a futures trust enterprise, the net asset value per unit of beneficial interest on the most recent business day, obtainable by calculation pursuant to Article 76 of the Regulations Governing Futures Trust Funds.
- For a real estate investment trust fund established by a trustee institution, the net asset value per unit of beneficial interest calculated according to the provisions of the real estate investment trust contract.
- For an underlying ETF beneficial certificate, the ratio of its trading units to the trading units of the beneficial certificates mentioned in Article 2, paragraph 1, subparagraph 2, item 1 and the net asset value per unit of beneficial interest on the most recent business day as converted at the exchange rate.
With respect to the beneficial certificates referred to in the preceding paragraph, the auction reference price at market opening on the first day of listing shall be the price arrived at by processing the calculation basis set under the same paragraph, pursuant to Article 7, paragraphs 2 and 3 herein.
With respect to offshore ETF beneficial certificates, the auction reference price at market opening on the first day of listing shall be the price arrived at by processing the latest net asset value per unit of the offshore fund, during TWSE business hours on the day before listing as published by the representing master agent of the offshore fund pursuant to Article 14 of the Regulations Governing Offshore Funds, pursuant to Article 7, paragraph 2 herein.
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