Chapter 2 Market Trading |
| Article 6 | For ETNs that track the index consisted of foreign underlyings, when the foreign market where the index component is trading is closed, the ETNs may continue to be traded at the TWSE centralized securities exchange market.
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| Article 7 | Trading volume of ETNs in the order quote shall be one trading unit or its multiples. One thousand units of ETNs are one trading unit. No odd-lot trading is permitted.
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| Article 8 | Prices of ETNs in the order quote are unit based.
The tick size of order price quotes shall be 1 cent if the market price per unit is below NT$50, and 5 cents if the market price per unit is NT$50 or above.
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| Article 9 | After listing of ETNs, the regulations governing price movement for listed securities shall apply mutatis mutandis to their daily price movement, except ETNs that track the index consisted of foreign underlyings, to which no minimum or maximum price movement applies.
For a leveraged or inverse ETN of which the components of the underlying index are all domestic underlyings, the daily price limit shall be 10 percent above or below its price multiplied by the multiple of the ETN. For those of which the components of the underlying index include foreign underlyings, there is no limit on their price movement in either direction.
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| Article 10 | Calculation of the price movement of ETNs on the first day after their listing shall be based on the latest indicative value for the latest available business day as provided by the issuer on the business day before their listing.
The auction reference price at market opening of the ETNs on the first day after their listing as in the preceding paragraph is the price on the same basis in that paragraph after adjustment in accordance Article 8, paragraph 2 above.
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| Article 11 | 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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| Article 12 | An ETN issuer shall itself serve or appoint another securities firm to serve as the liquidity provider to provide liquidity during the trading at the TWSE centralized securities exchange market. The TWSE will separately establish guidelines for the operation.
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