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Article 11
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An ETN trade for which settlement is performed on or after the commencement date of book-closure for suspension of change of entries to the list of ETN holders due to a distribution of dividends pursuant to its issuance plan, shall be an ex-dividend trade.
Calculation of the price movement for the commencement date of ex-dividend trading shall be based on the closing price of the previous day by deducting the value of distributed dividends. The auction reference price at market opening on the commencement date of ex-dividend trading is the closing price of the previous day by deducting the value of distributed dividends after adjustment in accordance with Article 8, paragraph 2 above.
If there is no closing price of the previous day on the commencement date of ex-dividend trading, the closing price used as basis for calculation in the preceding paragraph shall be replaced by the price as determined based on the principle stated in Article 58-3, paragraph 4, subparagraph 2, of the Operating Rules of the Taiwan Stock Exchange Corporation.
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