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Title:

Taiwan Stock Exchange Corporation Rules Governing Block Trading of Listed Securities  CH

Amended Date: 2016.03.08 
Categories: Securities Exchange Market > Trading > Securities Transaction
   Chapter 1 General Principles
Article 1    These Rules are adopted pursuant to Article 71 and Article 74 of the Operating Rules of the Taiwan Stock Exchange Corporation (TWSE).
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Article 2    A block trade may only be conducted as either a non-paired trade or a paired trade.
    A block trade may not involve margin purchase or short sale.
    The settlement prices and securities that are receivable or deliverable for a block trade will be settled together with any other trades that are to be settled on the second business day after the trade date.
Article 3    The volume, type, and dollar amount of a bid or ask quote placed by a securities firm shall comply with the following provisions:
  1. A block trade of a single security shall be for 500 or more trading units of a listed security.
  2. A block trade of a basket of stocks shall be for five or more listed stocks, and the total dollar amount shall be NT$15 million or more.
    Even if the criterion in subparagraph 1 of the preceding paragraph is not met, a block trade of a single security may still be carried out for a single quote for a purchase or sale with a total dollar amount of NT$15 million or more.
    The total dollar amount to be quoted shall be converted at the exchange rate posted by the TWSE on the preceding day if the securities mentioned in paragraph 1, subparagraph 2 and paragraph 2 are beneficial certificates of exchange-traded funds in foreign currency.
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Article 3-1    Quotes of volume for block trades are not required to be for single trading units or integral multiples thereof; they may be for single shares or integral multiples thereof.
    The tick increment of price quotes for block trades is one cent.
    Article 63 of the TWSE Operating Rules applies to the fluctuation ranges of price quotes as in the preceding paragraph, and the daily fluctuation limits shall comply with the provision on tick size as in Article 62 of the TWSE Operating Rules.
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Article 4    (Deleted)