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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 7     In conducting securities trading margin purchase and short sale operations, a securities firm may not use retained short sale proceeds and short sale margins except for the purposes listed below:
  1. As a source of funds for conducting margin purchase business.
  2. As collateral for refinancing of securities from securities finance enterprises.
  3. As a source of funds for conducting money lending in connection with securities business.
  4. As collateral for borrowing securities through the TWSE securities lending system.
  5. For deposit with bank.
  6. To purchase short-term bills.
    In conducting securities trading margin purchase and short sale operations, a securities firm may not use securities received from such operations except for the purposes listed below and shall deposit the securities with a central securities depository:
  1. As a source of securities for conducting short sale business.
  2. As collateral for refinancing of funds or securities from securities finance enterprises.
  3. As a source of lendable securities in conducting securities lending business.
  4. As collateral for borrowing securities through the TWSE securities lending system.
  5. To lend to a securities firm or securities finance enterprise conducting securities borrowing and lending business as a source of securities for conducting securities borrowing and lending business or securities margin purchase and short sale business.
  6. To lend through the TWSE securities borrowing and lending system.
  7. To participate in competitive auction lending transactions or negotiated lending transactions conducted by a securities finance enterprise.