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A liquidity provider shall apply with the TWSE to establish a segregated account. If an issuer serves as its own liquidity provider, the segregated account shall be established under its proprietary trading account, of which the account number shall be 888888-5 if it is a domestic securities firm or 998888-5 if it is a Taiwan branch established by foreign securities firm. If an issuer engages another securities firm to serve as its liquidity provider, the segregated account shall be established under the proprietary trading account of the engaged securities firm, of which the account number shall be 888888-6 if it is a domestic securities firm or 998888-6 if it is a Taiwan branch established by foreign securities firm.
A liquidity provider shall provide liquidity for ETNs through the segregated account referred to in the preceding paragraph. No pledge shall be created over the ETNs in its securities depository account.
An issuer issuing ETNs shall hedge its risk through a segregated account established under its proprietary trading account, of which the account number shall be 888888-4 if it is a domestic securities firm or 998888-4 if it is a Taiwan branch established by foreign securities firm.
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