| Title： |
Operating Rules for Securities Firms Handling Margin Purchases and Short Sales of Securities(2023.09.15) |
| Date： |
|
|
Article 10
|
Beneficial certificates not traded in foreign currency that have been listed on the TWSE or TPExfor at least six monthswill be announced by the TWSE or TPExas eligible for margin purchase and short sale if the beneficial ownership of the beneficial certificates are not excessively concentrated or if the circumstance in Article 8, paragraph 1, subparagraph 3, item 1 or 3 is not applicable.Notwithstanding, beneficial certificates of securities investment trust exchange-traded funds ("ETF Beneficial Certificates") and beneficial certificates of futures trust exchange-traded fundswill be announced by the TWSE or TPEx as eligible for margin purchase and short sale from the day their trading commences on the TWSE or TPEx. Offshore ETF Beneficial Certificates will be announced by the TWSE as eligible for margin purchase and short sale from the day their trading commences on the TWSE.
|
|
Article 18
|
The beneficial ownership of beneficial certificatesis deemed excessively concentrated as in Article 10under any of the following circumstances:
- The number of beneficiaries holding not more than 100,000 beneficial units is less than 1,000.
- The number, as entered in the beneficiary register, of units of beneficial rights held by beneficiaries whose beneficial rights holding exceeds 5% of the total amount of the fund exceeds 80% of the total amount of the fund.
- Other circumstances wherethe beneficial ownership may be deemed excessively concentrated.
The preceding paragraph does not apply to ETF beneficial certificates, offshore ETF beneficial certificates, and futures ETF beneficial certificates.
|