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Article NO. Content

Title:

Taiwan Stock Exchange Corporation Securities Borrowing and Lending Rules  CH

Amended Date: 2019.09.26 
Categories: Securities Exchange Market > Borrowing of Securities
Article 40     If the proceeds arising from the disposal of collateral under the preceding article and the amount payable to the borrower are not sufficient to fully cover the price required for the buy-in of securities and other related fees and expenses, the TWSE may, to the extent necessary for the settlement of the remaining obligations, cause an early loan return to be made by buy-in of securities, and/or effect any disposal of collateral, on any other securities loan transaction of the borrower, and use the proceeds thus obtained to cover the aforesaid shortfall, after deduction of the price of and other fees and expenses related to each such buy-in transaction. there is any surplus, the SBL participant may submit a request through its securities firm to withdraw the surplus collateral. the SBL participant's obligations remain not fully satisfied, and if the SBL participant fails to settle the obligations within the time limit specified in a notice from the TWSE, such failure shall then constitute an event of default, in which case the TWSE may, with respect to each and any outstanding securities lending position of the SBL participant, request an early return of securities from the corresponding borrowing counterparty on such terms as set out in the original loan transaction, and notify the central securities depository to transfer the returned securities to the TWSE's account exclusively used for collateral securities against securities borrowings, and then place an order with a securities firm to sell the securities, in whole or in part, for realization of cash to settle the remaining obligations, or otherwise may seek to recover the unsettled amount(s) from any other property of the SBL participant.