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Article NO. Content

Title:

Taiwan Stock Exchange Corporation Operating Directions for Subscription and Sellback of Exchange Traded Notes  CH

Announced Date: 2018.09.10 
2     Terms:
  1. The term "issuer" refers to a securities firm that issues exchange traded notes (ETNs).
  2. The term "applicant" refers to a customer that orders for subscription or sellback through a securities transaction account opened at a securities firm; a securities firm that engages in subscription or sellback for its own account is also an applicant.
  3. The term "indicative value" refers to the value of an ETN calculated based on the rising and falling, accrued revenue and fees payable by investors with respect to the ETN.
  4. The term "subscription" refers to a securities firm for its own account or on behalf of its customer subscribing ETNs from an issuer. The subscription price shall be calculated based on the number of units prescribed in the issuance plan and the indicative value announced after the closing of market trading on the application date.
  5. The term "sellback" refers to a securities firm for its own account or on behalf of its customer sells back the ETNs to the issuer in exchange for cash consideration. The sellback price shall be calculated based on the number of units prescribed in the issuance plan and the indicative value announced after the closing of market trading on the application date.

Interpretation: