| Title： |
Taiwan Stock Exchange Corporation Regulations Governing After-Hour Fixed-Price Trading(2000.03.08) |
| Date： |
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Article 1
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These Regulations are promulgated pursuant to Article 74-1 of the Operating Rules of this Corporation to promote smooth circulation of securities and sound mechanisms in the securities market.
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Article 2
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After-hour fixed-price trading of securities other than bonds (excluding convertible bonds) traded on this Corporation's centralized exchange market shall be governed by the provisions of these Regulations. Matters on which these Regulations are silent shall be governed by the Operating Rules of this Corporation or other applicable regulations.
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Article 3
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Quotes for after-hour fixed-price trading by securities firms on their own accounts or the accounts of their customers shall be given from 2:00 p.m. to 2:30 p.m., and are valid only for the day on which they are made.
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Article 4
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After-hour fixed-price trading quote volume shall be a single trading unit or multiples thereof. The volume of a single security transacted in one trade shall not exceed 499 trading units.
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Article 5
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Matching of after-hour fixed-price trading quotes shall be performed by this Corporation through an automated computer system at 2:30 p.m. on the same trading day. The transaction price shall be the closing price on the same day as the quote was made.
The term "closing price" in the preceding paragraph means the final transaction price during the market trading hours of 9:00 a.m. to 1:30 p.m. of the current trading day (hereinafter referred to as the "market trading hours") as prescribed in Article 3 of the Operating Rules of this Corporation.
If there is no transaction price for a certain security during the market trading hours of the current trading day, after-hour fixed-price trading of such security shall be suspended.
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Article 6
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The priority for satisfying after-hour fixed-price trading quotes shall be sequenced randomly by computer.
Once a after-hour fixed-price trading quote is matched, a trade confirmation slip will be printed on the printer of the participating securities firms.
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Article 7
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The volume of after-hour fixed-price trading quotes shall be announced prior to transaction as the aggregate volume of trading quotes of all securities, and after transaction as the aggregate transacted volume of all securities and the separate transacted volumes of individual securities.
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Article 8
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After-hour fixed-price trades shall be tabulated together with trading transacted during market trading hours on the same trading day into a consolidated settlement calculation sheet, and shall be settled as normal settlement trades.
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Article 9
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Respective purchase and sale of the same security by a principal during market trading hours and in after-hour fixed price trading on the same trading day shall not be settled by offset.
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Article 10
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Respective margin purchase and short sale of the same security by a principal during market trading hours and in after-hour fixed-price trading on the same trading day may be settled by offset of margin purchasing and short selling.
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Article 11
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After the close of market trading hours, this Corporation shall produce a [daily] securities market report in accordance with regulations. After the close of after-hour fixed-price trading, this Corporation shall further produce and make public a consolidated [daily] securities market report including transactions completed during market trading hours.
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Article 12
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These Regulations shall be submitted to the Competent Authority for approval before implementation. The same apply to any amendments hereto.
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