| Title： |
Taiwan Stock Exchange Corporation Rules Governing Trading of Beneficial Certificates(2021.10.08) |
| Date： |
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Article 4-1
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A principal trading the beneficial certificates of leveraged or inverse securities investment trust ETFs for the first time shall complete a checklist of beneficial certificates of leveraged or inverse securities investment trust ETFs for the principal to read carefully and sign before the securities firm may accept the principal’s order. The principal may do so by correspondence, e-mail, facsimile, or electronic means that is sufficient to identify the principal as itself and confirm its indication of intent.
The aforementioned checklist of beneficial certificates of leveraged or inverse securities investment trust ETFs shall be created by the TWSE.
Professional institutional investors that conform to the Regulations Governing Offshore Structured Products, privately placed securities investment trust funds managed by SITEs, futures trust funds offered by futures trust enterprises to persons with prescribed qualifications, discretionary investment accounts managed by SITEs, securities investment consulting enterprises or securities brokers concurrently operating securities investment consulting enterprises, or discretionary investment accounts managed by managed future enterprises are not governed by paragraph 1.
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Article 10
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Any beneficial certificate trade of which settlement is conducted after the date of suspension of changes to entries in the register of beneficial owners for the determination of the record date of distribution by the SITE pursuant to Article 77 of the Regulations Governing Securities Investment Trust Funds or by the futures trust enterprise pursuant to Article 78 of the Regulations Governing Futures Trust Funds shall be an ex-dividend transaction.
On the commencement date of ex-dividend trading, the price fluctuation limits for those trades shall be calculated based on the previous day's closing price minus the dollar amount of distributed gains. When there is no previous day's closing price, the closing price shall be replaced with the price determined by the principles laid down in Article 58-3, paragraph 4, subparagraph 2 of the TWSE Operating Rules.
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Article 10-2
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A trade of REIT beneficial securities of which settlement is conducted after the date of suspension of changes to entries in the register of beneficial owners for the determination of the record date for the distribution of gains or additional public offering of REIT beneficial securities by the trustee in accordance with the REIT contract, shall be an ex-dividend or ex-rights transaction.
On the commencement date of ex-dividend trading, the price fluctuation limits for those trades shall be calculated based on the previous day's closing price minus the amount of distributed gains.
On the commencement date of ex-rights trading, the price fluctuation limits for those trades shall be calculated by one of the following approaches:
- Where the issuing price of each beneficial unit of the REIT beneficial securities in the trustee’s additional public offering is lower than the closing price of the day preceding the commencement date of the ex-rights trading period, for the calculation of the price fluctuation on the commencement date of ex-rights trading, the amount of increase shall be calculated based on the previous day's closing price, and the amount of decrease shall be calculated based on the previous day's closing price minus the value of rights in the REIT beneficial securities in the additional public offering.
- Where the issuing price of each beneficial unit of the REIT beneficial securities in the trustee’s additional public offering is higher than the closing price of the day preceding the commencement date of the ex-rights trading period, for the calculation of the price fluctuation on the commencement date of ex-rights trading, the amount of increase shall be calculated based on the previous day's closing price minus the value of rights in the REIT beneficial securities in the additional public offering, and the amount of decrease shall be calculated based on the previous day's closing price.
The value of rights in the preceding paragraph is calculated by the TWSE.
When there is no closing price on the day preceding the commencement date of ex-dividend or ex-rights trading, the closing price shall be replaced with the price determined by the principles stipulated in Article 58-3, Paragraph 4, Subparagraph 2 of the TWSE Operating Rules,
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