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Amended Article

Title：

Rules Governing Rating of Issuers of Call (Put) Warrants  CH

Amended Date： 2022.11.10 
Categories： Primary Market > Review
Securities Exchange Market > Trading > Call (Put) Warrants
Article Content Content Search Article No. Search Legal Basis Amended Article Legislative History Chinese
Article 6     According to the rating results in the preceding article, subject to Article 7, issuers in Class A and Class B may be entitled to the following incentives in the following quarter:
  1. The issuance amount of Class A issuers, apart from the applicable percentage of eligible net self-owned capital according to the risk management evaluation level, will increase by 30% of eligible net self-owned capital; the issuance amount of Class B issuers by 20%.
  2. Where a Class A issuer issues warrants based on domestic stocks and Taiwan Depository Receipts as the underlying warrants, the issuance amount of the underlying warrants is governed by the limits under Subparagraph 3, Article 11 of the TWSE Rules Governing Review of Call (Put) Warrant Listings or Subparagraph 3, Paragraph 1, Article 11 of the Taipei Exchange Rules Governing Review of Call (Put) Warrants for Trading on the TPEx, and each issuer may increase the percentage of the number of securities of the call (put) object represented by the warrant issuance unit, of the total issued shares of the company issuing the underlying securities minus 1% of the unit of shares specified in that subparagraph and listed (TWSE/TPEx) depository receipts.
  3. Class A issuers may, in addition to applying for issuing warrants on the underlying securities announced per quarter by the TWSE and TPEx, further apply for issuing warrants on the additional underlying securities that result from either of the following: in relation to the TWSE, a change of the value of the listed securities to NTD 7 billion according to Paragraph 1, Article 10 of the TWSE Rules Governing Review of Call (Put) Warrant Listings, and in relation to the TPEx, a change of the value of TPEx listed securities to NTD 3 billion according to Paragraph 1, Article 10 of the Taipei Exchange Rules Governing Review of Call (Put) Warrants for Trading on the TPEx. The additional underlying securities shall be as specified in the quarterly announcement of the TWSE and the TPEx.
  4. The listing (TWSE/TPEx) fee of each warrant is reduced by NTD 5,000 for Class A issuers and by NTD 2,000 for Class B issuers.
    According to the rating results in the preceding article, issuers in Class D or E will have their issuance amount reduced by 20% or 40% of their eligible net self-owned capital in the following quarter.
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Article 7     An issuer rated as Class A and B according to Article 5 on the last business day of each quarter by the TWSE shall not be entitled to the incentives set forth in the preceding paragraph if the following occurs in respect of such issuer in the relevant quarter:
  1. According to the Directions for the Handling of Malfunctions in the Quotation System for Liquidity Providers of Call (Put) Warrants, the accumulated number of times a malfunction in the quotation system is entered reaches five or more.
  2. In violation of the TWSE Rules Governing Review of Call (Put) Warrant Listings, the Taipei Exchange Rules Governing Review of Call (Put) Warrants for Trading on the TPEx, the TWSE and the TPEx Directions Governing Liquidity Providers of Call (Put) Warrants for two times or more.
    Issuers rated as Classes C, D or E according to Article 5 on the last business day of each quarter by the TWSE shall have their issuance amounts reduced by 10%, 20% or 30%, respectively, of their eligible net self-owned capital, if either of the circumstances in the preceding paragraph occurs in respect of such issuers in the relevant quarter.
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