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Chapter Content

Title:

Regulations Governing The Use Of Trading Information  CH

Amended Date: 2013.01.28 
Categories: Information Operations
   Chapter III Restrictions on Use
Article 12    A user applicant shall give due consideration to the accuracy of any trading information that it has independently processed for added value, and shall bear legal liability for any errors in its content.
    Where trading information has been processed by a user applicant pursuant to the preceding paragraph, the page display shall conspicuously indicate the user applicant's name or a service mark identifying the user applicant, along with related footnotes; the user applicant shall bear legal liability for the page content.
    When transmitting or broadcasting trading information, a user applicant shall have adequate software and hardware technology to prevent unauthorized use or plagiarism of the information, or connection to other systems.
Article 13    A user applicant shall retain for ready inspection by the TWSE the trading information it has transmitted or broadcast on any given day for a period of at least three days thereafter.
    When a user applicant simultaneously broadcasts news information, it shall specifically indicate the source and basis of such information and shall bear all legal liability for any false or untrue content therein.
    When a user applicant discovers any error in trading information transmitted or broadcast, or in news content being simultaneously broadcast, it shall on its own initiative immediately notify the TWSE and simultaneously issue a correction to the public.
Article 14    Except where otherwise approved by the TWSE, a user applicant shall not lease, sell, or transfer the TWSE's trading information to any other person, nor relay the information in any manner to any other place.
    Transmission standards for any transmission by user applicants not made over leased data lines or dial-up lines shall be separately prescribed by the TWSE.
    A User applicant shall not use any trading information other than that provided pursuant to the contract for use of trading information entered into with the TWSE.
    Securities firms and futures commission merchants shall not have the TWSE's trading information relayed to any place other than their business premises.
    Trading information provided by a web site operated by a securities firm shall be made in the name of a user applicant that has been approved by the TWSE for transmitting trading information through the Internet. Notwithstanding the above, however, a securities firm may, with the permission of the TWSE, provide trading information under its own name to the investors who have opened accounts with it.
    A user applicant that provides datafeed services may provide the service only for the internal use of the subscribers. If a subscriber is not an institution in the securities, finance, or insurance industry, the provision of such service shall require the approval of the TWSE.
    A user applicant that provides datafeed service and that jointly develops software with any collaborating enterprise shall report to the TWSE, and the collaborating enterprise may not alter the original transmission format of the user applicant nor engage in any relay transmission business.
Article 15    Cable radio and television operators and satellite radio and television enterprises, after applying for approval from the TWSE in accordance with the provisions of Article 8, may connect their systems directly with the TWSE's system in order to transmit trading information or to broadcast trading information produced and supplied by other operators.
    Cable radio and television operators and satellite radio and television enterprises that have applied for use of trading information pursuant to the provisions of Article 11 may only broadcast trading information relayed by other user applicants approved by the TWSE.
    Cable radio and television operators and satellite radio and television enterprises may only transmit trading information in the form of sound, images, and page displays, and may not, without the consent of the TWSE, provide trading information processed for added value to cable television subscribers.
    A channel provider may provide no more than four channels to any system operator for broadcasting; restrictions may be imposed on the content or particulars of the programs as deemed necessary by the TWSE.
Article 16    Given any of the following circumstances, a user applicant shall report to the TWSE:
  1. Any change of its representative, responsible person, contact person, agent, business address, telephone or fax number;
  2. Any change of the responsible person, address or contact telephone number for its equipment room; or
  3. Any instance where a bank has dishonored a check or refused a transaction of the company or its responsible person, or any other loss of creditworthiness.
  4. Any instance of a material adverse effect on the finances or operations of the company due to litigation, non-litigation, administrative disposition, administrative litigation, or the application for or execution of provisional attachment or provisional injunction involving the company or its responsible person.
  5. Other matters requiring report under the regulations of the TWSE.
Article 17    User applicants shall prepare and submit to the TWSE lists of the equipment to be used or of the channels through which trading information will be broadcast; any additions or changes to such information shall be reported to the TWSE not later than the fifth day of each month.
    User applicants which transmit the trading information in the designated manner and have established files for the administration of their subscribers may be exempted from preparing and filing with the TWSE the list of information equipment in use as required by the provisions of Article 24, paragraph 2 of the these Regulations, and may further be exempted from submitting to the TWSE not later than the fifth day of each month the reports on new subscribers or changes in the subscriber list, provided that such user applicants shall make their subscriber administration files available at their head offices for audit by the TWSE.
Article 18    In order to administer the transmission and use of the trading information, the TWSE may appoint a representative or a certified public accountant to examine and audit the finances or operations and accounting books and records of a user applicant that are related to trading information. When deemed necessary, the TWSE may inspect the sites where the equipment is used and the status of its use; user applicants may not evade or refuse such inspections. When further understanding of a user applicant's revenue status is required due to a change in the method of calculating fees, the TWSE may consult the auditing reports issued by the user applicant's certified public accountant.
    Where a user applicant calculates fees for the use of trading information based on the quantity of equipment or indexing time, the fees shall be listed independently on its accounting books with appropriate annotations.
    Two duplicates of the user applicant's annual financial report duly audited and attested by a certified public accountant shall be submitted to the TWSE not later than June 30 of each year.
Article 19    A user applicant shall enter into a written contract with each subscriber and place the originals of such contracts at its head office or the place of business of its Taiwan agent to facilitate inspection and audit by the TWSE.
    One copy of the contract referred to in the preceding paragraph shall be submitted to the TWSE for reference. The contract shall stipulate that the subscriber will comply with these Regulations, as well as the sanctions and civil and criminal liability to be borne by the subscriber for unlawfully accessing or relaying the trading information.
    When a user applicant is required by the TWSE to make a joint inspection of a subscriber's usage site, the user applicant shall make its best efforts in cooperating and shall not intentionally evade or refuse such inspection.