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Article 3
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Terms used herein are defined as follows:
- "Competent authority" means the Financial Supervisory Commission.
- "User applicant" means any securities firm, futures commission merchant, telecommunications business, information company, news media institution, cable television operator, satellite radio and television enterprise, or Internet firm applying to use trading information pursuant to these Regulations, or any other enterprise applying with the consent of the TWSE.
- "Trading information" means any information developed or transmitted by the TWSE relating to the centralized securities exchange market, and any derivative information thereof.
- "Electronic display" means a single display screen on which technical charts or indexed search results with respect to securities trading information can be displayed at one's option.
- "Television wall" means a combination of television screens used to display securities market price information in whole or in part.
- "Real-time information and delayed information" mean, respectively, trading information transmitted during market trading hours and trading information transmitted with delays of 20 minutes or more relative to real-time information.
- "After-market information" means information on a given day's trading transmitted after trading hours the same day.
- "Direct connection and indirect connection" mean, respectively, direct connection to the TWSE's computer systems by a user applicant to obtain trading information, and connection by a user applicant through another user applicant to obtain trading information indirectly.
- "Subscriber" means any person who receives the trading information relayed by a user applicant.
- “Non-display” means the use of trading information not for display usages.
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Article 14
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Except where otherwise approved by the TWSE, a user applicant shall not lease, sell, or transfer the TWSE's trading information to any other person, nor relay the information in any manner to any other place.
Transmission standards for any transmission by user applicants not made over leased data lines or dial-up lines shall be separately prescribed by the TWSE.
A User applicant shall not use any trading information other than that provided pursuant to the contract for use of trading information entered into with the TWSE.
Trading information provided by a web site operated by a securities firm shall be made in the name of a user applicant that has been approved by the TWSE for transmitting trading information through the Internet. Notwithstanding the above, however, a securities firm may, with the permission of the TWSE, provide trading information under its own name to the investors who have opened accounts with it.
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Article 14-1
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Securities firms and futures commission merchants shall not have the TWSE's trading information relayed to any place other than their business premises unless with the TWSE’s consent.
A user applicant that provides datafeed services may provide the service only for the internal use of the subscribers. If a subscriber requires the service for non-display or other purposes, the provision of the service shall be approved by the TWSE.
A user applicant that provides datafeed service and that jointly develops software with any collaborating enterprise shall report to the TWSE, and the collaborating enterprise may not alter the original transmission format of the user applicant nor engage in any relay transmission business.
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Article 24
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A user applicant shall establish a comprehensive customer management system, and shall preserve the integrity of customer information.
A user applicant is required to make filings with the TWSE of the following user information on a regular basis:
- non-identifiable user information for display usages
- user information for non-display usages.
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Article 32
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Given any of the following circumstances, the TWSE may notify a user applicant to make improvement or correction within a given period, and may additionally impose a penalty for breach in the amount of NT$50,000:
- Violation of the provisions of Article 7, paragraph 2; Article 12, paragraphs 2 or 3; Article 14, paragraphs 3 or 4; or Article 19, paragraph 1 or 2 of these Regulations;
- Violation of the provisions of Article 12, paragraph 1 of these Regulations a total of three times in one month because of errors in the content of the trading information due to negligence;
- Failure to improve or correct the default within the period prescribed by the TWSE pursuant to the provisions of Article 30;
- Serious violation of the requirements set forth in any circular letter or public announcement of the TWSE, or any letter or order of the competent authority.
A user applicant that has violated the provisions of Article 12, paragraph 3 herein may be exempt from the penalty for breach if able to prove that it exercised due care before the occurrence of the event and took necessary legal action afterwards against unlawful use or interception of the trading information.
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Article 34
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Given a serious violation of Article 4, Article 14, paragraph 1or 4, Article 14-1, paragraph 1 or 2, Article 20, or Article 13, the TWSE may notify the user applicant to make improvement or correction within a given period, and may additionally impose a fine for breach in the amount of NT$200,000.
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Article 35
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Given any of the following circumstances, the TWSE may impose on a user applicant a fine for breach in the amount of NT$500,000, or terminate the contract:
- Unlawful conduct arising out of intentional acts or gross negligence, resulting in an error in the trading information transmitted, in violation of Article 12, paragraph 1, and materially influencing trading order in the securities market.
- Violation of Article 12, paragraph 3 five times or more within a single year.
- Serious violation of Article 14, paragraph 1 or 4, or Article 14-1, paragraph 1 or 2.
- Failure to pay fees or royalties or penalty for breach of agreement, followed by failure to make payment more than two months after having received notification from the TWSE to make payment within a given period.
- Violation of securities-related acts or regulations or the provisions of the TWSE, with a material adverse impact on the securities market or the administration of trading information by the TWSE.
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