| Title： |
Taiwan Stock Exchange Corporation Regulations Governing Bulk Securities Trades(2002.02.21) |
| Date： |
|
|
Article 1
|
These Regulations are promulgated pursuant to Article 71 of the Operating Rules of this Corporation.
|
|
Article 2
|
A single trade by a securities broker under consignment by a principal or a securities dealer trading for its own account involving 500 or more trading units of the same listed securities shall be termed a "bulk securities trade" and shall be handled in accordance with these Regulations.
|
|
Article 3
|
Offers to buy or offers to sell for bulk securities trades can be placed from 2:30p.m. to 3:00 p.m. Corresponding buy or sell quotes can be placed from 3:00p.m. to 3:30 p.m.; any single such quote should not exceed the total volume of the opposite offers to buy or offers to sell.
Bulk securities trades shall be suspended on ex-dividend or ex-right dates and the immediate preceding trading day, and also on the last trading day of the national calendar year as well as lunar calendar year.
The quote price of bulk securities trades shall be the closing price of the securities on the same day as the quote is placed.
|
|
Article 4
|
Offers and quotes mentioned in the preceding article may be processed only after the securities firm has wired the fund of securities purchased into the bank account designated by this Corporation and carried out book-entry transfer of securities sold into this Corporation's book-entry settlement account with the centralized securities depositary company. Once accepted by this Corporation, offers and quotes may not be cancelled.
Where securities under the preceding paragraph are securities pledged and delivered by the book-entry method and a securities firm is consigned by a pledgee to carry out a self-conducted auction of the securities, the securities firm shall submit a certificate of check and verification by the centralized securities depositary company and handle the matter in accordance with the Regulations Governing Book-Entry Operations for Centrally Deposited Securities, Regulations Governing Operations of Centralized Securities Depository Enterprises, and related regulations.
From 3 p.m. to 3:30 p.m., this Corporation shall publicly announce all information of offers through the Market Information System.
|
|
Article 5
|
The bulk securities trades are executed by this Corporation on the opening of next trading day according to the rules listed below:
1. If there are is no any otherno other buy or sell quotes for securities after the information of offers are publicized to the market, offers to buy and offers to sell for each security will be traded against each other according to their volumes.
2. If there are other buy or sell quotes for the offers, the total volume of offers for each security shall be allocated to quotes of the security's opposite side in proportion to the quote volumes of each individual quotes. Any remainder shall be allocated based on the time priority of the quotes for that security.
|
|
Article 6
|
As soon as a bulk trade is confirmed, trading confirmation slips shall be printed on the printers of the buyer's and seller's securities firms, and the transaction information shall be publicly announced by this Corporation through its Market Information System.
|
|
Article 7
|
Individual settlement calculation statements shall be compiled for bulk securities trades, and settlement shall be carried out on the trading day.
|
|
Article 8
|
Prices of securities quoted and transacted pursuant to these Regulations shall not be taken as their opening or closing prices for the trading day, nor may they be taken as the basis for recording their market highs or lows.
|
|
Article 9
|
Matters on which these Regulations are silent shall be prescribed in public announcements issued pursuant to the Operating Rules of this Corporation.
|
|
Article 10
|
These Regulations shall be implemented on a date to be prescribed after they have been approved by the competent authority.
|