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友善列印
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Article NO. Content

Title:

Operating Rules for Securities Firms Handling Margin Purchases and Short Sales of Securities  CH

Amended Date: 2019.02.12 
Categories: Securities Exchange Market > Margin Transaction
Article 59     The securities deposited or other merchandise to offset against margin requirements under the preceding article shall be valued as follows:
  1. book-entry central government bonds : valued at 90 percent of their par value.
  2. local government bonds, corporate bonds, financial bonds: valued at 70 percent of their par value.
  3. TWSE or TPEx listed securities eligible for margin purchase or short sale: valued at 70 percent of the auction reference price at market opening on the day or the basis price at the commencement of trading of that day when they are deposited.
  4. Securities not qualified according to Article 2 or 3 of the Standards Governing Eligibility of Securities for Margin Purchase and Short Sale, or suspended according to Article 4 or 5 of the same Standards: valued at 50 percent of the auction reference price at market opening or the basis price at the commencement of trading on the day they are deposited.
  5. Gold that is registered for trading over the counter: valued at 70 percent of the average market price on the business day prior to the margin purchase and short sale day.
  6. An open-end type securities investment trust fund beneficiary certificate and futures trust fund beneficiary certificate: valued at 70 percent of the net asset value per beneficiary unit on the business day prior to the margin purchase and short sale day.
    The provisions of Article 54, paragraph 5 apply to the terms "the auction reference price at market opening" and "the basis price for the opening of trading" in the preceding paragraph.
    For the purpose of calculating the overall account collateral maintenance ratio for a customer's margin account, the securities firm is not required to discount the value of securities deposited or other merchandise to offset against margin requirements.