Taiwan Stock Exchange - Rules & Regulations Directory
Taiwan Stock Exchange Corporation Securities Borrowing and Lending Rules
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Taiwan Stock Exchange Corporation Securities Borrowing and Lending Rules(2014.07.04)
The collateral securities received by the TWSE in conducting securities loan transaction business shall be delivered to the custody of the central securities depository.
Upon execution of a securities loan transaction, the central securities depository shall make a notation on the borrowed subject securities as per notification from the TWSE. The same does not apply, however, to securities borrowed through a securities borrowing and lending account of a securities firm or of a securities finance enterprise.
No subject securities on which a notation has been made under the preceding paragraph may be transferred or withdrawn, except for the following purposes:
For sale through a sell order given to a securities firm.
For returning securities borrowed or for compensating for securities entitlements.
For returning spot securities in short sales.
For the purposes associated with the exercise of call (put) warrants, equity options, and other equity-type financial instruments.
For use in the in-kind creation or redemption of units of ETFs, futures ETFs, or offshore ETFs.
For such other purposes as may be approved by the TWSE.
When borrowed securities are used for the in-kind creation of units of ETFs or offshore ETFs under subparagraph 5 of the preceding paragraph, any further lending thereof is prohibited.
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