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Amendments

Title:

Taiwan Stock Exchange Corporation Standards Governing the Places of Business and Facilities of Securities Firms and Securities Introducing Brokers  CH

Amended Date: 2019.04.16 
Categories: Market Supervision > Regulation of Securities Firms

Title: Taiwan Stock Exchange Corporation Standards Governing Securities Firm Sites and Facilities(2002.01.09)
Date:
1 Provisions regarding securities brokers:
 
 (1) The operating venues of securities brokers shall include the following:
 
 (i) A trading room exclusively for accepting consignments for securities trades (including a trading counter for over-the-counter trading).
 
 (ii) A site for payment (or delivery) and receipt of securities and funds.
 
 (iii) A site for account opening.
 
 (iv) A securities information reading room.
 
 (v) Other business areas.
 
 The sites for operating venues referred to in the preceding paragraph shall be limited to stand-alone structures, duplexes, connected structures, or adjacent independent structures joined by passageways built with approval from the building administration authority.
 
 (2) Trading rooms may be established on two adjoining floors of a structure. The interiors of the trading rooms on each floor shall have no partitioning walls except for support columns, elevators, and stairway exits.
 
 (3) Trading rooms shall be equipped with the following:
 
 (i) A closed-circuit monitoring system.
 
 (ii) A trading information display system.
 
 (iii) A market information display system.
 
 (iv) A trading counter, with the following facilities and conditions:
 
 (a) Trading counters may be established to accept consignments from clients, depending on the frequency of trading. Where two or more trading counters are set up on the same floor, there shall be no partitions between the counters, with the exception of support columns, elevators, or stairway exits.
 
 (b) Telephones for use in consignment trading and terminals exclusively for consignment trading of securities shall be installed.
 
 (c) Consideration shall be given to leaving ample space around the trading counter and maintaining unobstructed access.
 
 (d) There shall be ample space within the counter for seating for the traders and traders' assistants who process consignments for clients.
 
 (e) Over-the-counter trading and trading on the Taiwan Stock Exchange ("TSE") centralized securities trading market may be performed at the same counter.
 
 (v) An announcement board for posting administrative orders issued by the competent authority, announcements by the TSE, and ex-dividend and ex-rights dates for stocks of listed companies.
 
 (vi) A securities investment information counter for providing clients with information on listed companies.
 
 (vii) Seating and telephones for use by clients.
 
 (viii) Air-conditioning, fire safety equipment and emergency evacuation and lighting equipment.
 
 (ix) Other facilities for engaging in consigned securities trading.
 
 (x) Terminals for the TSE Observation Post shall be installed for the use of investors.
 
 (4) Securities firms shall not engage in consigned securities trading at any operating venue that includes auxiliary trading information display systems outside of the trading room, such as wall-mounted television displays or multi-function displays.
 
 (5) The site for payment and receipt of securities and funds may be established at a different location than the trading room, and shall be equipped with the following:
 
 (i) A counter for payment and receipt of funds and securities.
 
 (ii) A safe for holding funds and securities.
 
 (iii) Other facilities necessary for handling payment and receipt of funds and securities.
 
 (iv) A photocopying machine.
 
 (6) All facilities of a securities broker's branch offices shall conform to the standards for the securities broker's head office.
 
 (7) Computer facilities.
 
 (8) The following shall apply in the case of a partial relocation or expansion of a securities firm or its branch office:
 
 (i) The trading room shall be inspected by personnel dispatched from the Taiwan Stock Exchange Corporation (hereafter referred to as "the TSEC") (to assure that furnishings are complete and ready for immediate use), and amendment of registration and re-issuance of the license certificate shall be completed prior to use.
 
 (ii) Prior to use of the site for payment and receipt of securities and funds, the site for account opening, and the reading room, a report shall be filed for TSEC approval, including a floor plan and photographs (when necessary, the TSEC may dispatch personnel for an on-site inspection). Amendments to registration shall also be filed and a license certificate reissued prior to use.
 
 (iii) For all other operating areas, amendment of registration and re-issuance of license certificates shall be carried out within 15 days after the beginning of operations; if there are computerized information facilities installed, they may not be provided for the use of investors.
 
 A securities broker or its branch office shall notify the TSEC by letter when any alteration is made in the facilities or their scope of use within the original operating venue; with the exception of those not requiring amendment of registration or re-issuance of license certificates, methods of handling for such shall be the same as in the preceding subparagraph.
 
 (9) A securities firm may establish a securities information reading room (below, "reading room") in conformance with the following rules:
 
 (i) The reading room shall be established within the operating venue of the securities broker.
 
 (ii) A securities broker may not engage in any sales or similar activities within the reading room, including executing consignment securities contracts with clients, accepting consignments, or carrying out settlement of trades.
 
 (iii) A securities broker may not provide specialized terminals for competitive bidding for use by clients within the reading room.
 
 (iv) A securities broker may not place restrictions on who may use the reading room or collect fees for its use.
 
 (v) The TSEC may at any time dispatch personnel to inspect a securities broker's reading room, and the securities firm may not refuse or evade such inspection.
 
 (10) Securities brokers accepting only trades from overseas Chinese and foreign nationals shall be equipped with the following facilities:
 
 (i) Market information display systems.
 
 (ii) Telephones for use in accepting consignment trades and specialized terminals for consignment trading of securities.
 
 (iii) Other facilities necessary for engaging in consigned securities trading.
 
 (iv) Terminals for the TSE Observation Post.
 
 (v) Computer facilities.
 
 (11) In addition to operating in conformance with the Standards for Futures Commission Merchants Sites and Facilities, securities firms that concurrently operate a futures business or a futures trading assistance business shall also observe the following regulations:
 
 (i) Trading counter: A common trading counter may be used by a securities brokerage department and a futures department, provided that the trading counter used by an associated person of a securities firm who is also qualified as an associated person of a futures commission merchant shall be clearly separated from the trading counters of those qualified only as associated persons of securities firms or of futures commission merchants.
 
 (ii) Account-opening areas: Counters used by securities brokerage departments for account opening for clients shall be clearly separated from those used for that purpose by futures trading departments.
 
 (12) Securities firms accepting consignments for securities trading only by telephone, IC card, voice messaging, the Internet, or other media for electronic transaction shall be equipped with the following facilities:
 
 (i) A closed-circuit monitoring system.
 
 (ii) Market information display systems.
 
 (iii) Telephones for use in accepting consignment trades and specialized terminals for consignment trading of securities.
 
 (iv) Terminals for the TSE Observation Post.
 
 (v) Other facilities necessary for handling consigned securities trading and payment and receipt of funds and securities.
 
 (vi) Computer facilities.
 
 (vii) Air conditioning and fire safety equipment.