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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 8     An SBL participant shall enter into a Securities Borrowing and Lending Authorization Agreement with a securities firm, in the form set out in Appendix 2 hereto, whereby it shall authorize and empower the securities firm to submit an application for opening a securities borrowing and lending account on its behalf, and the SBL participant may authorize and empower its securities firm to submit quote for a fixed-price or competitive bid transaction and any regulatory filing reporting the execution of a negotiated transaction, and to do any other things relevant to securities borrowing and lending transactions, only after review and approval of the account opening application by the TWSE; the effective existence of the authorization agreement shall be a condition precedent to the continuance of the authorization and empowerment granted to the securities firm for dealing with such matters.
    An SBL participant applying for opening of a securities borrowing and lending account shall have an authorized person to prepare a letter of authorization, an application form for opening a securities borrowing and lending account, and other relevant supporting documents, and shall authorize and empower a securities firm to submit an application to the TWSE for opening a securities borrowing and lending account on its behalf. The securities firm shall truly review the content of the securities borrowing and lending account opening application form and relevant attached documents, and affix its corporate seal and the seal of the statutory representative on the photocopies of the forwarded relevant documents and indicate thereon the words "Same as Original."An SBL participant may, alternatively, authorize a securities firm to apply to the TWSE for account opening, by correspondence or electronic means that is sufficient to identify the applicant as the SBL participant itself or its indication of intent.
    The securities firm shall enter any information on account opening or cancellation of account with respect to the SBL participant, and any change in such account information, into the TWSE's computer system.
    The securities firm processing securities borrowing and lending transactions as authorized and empowered by the SBL participant shall exercise the due care of a good administrator in doing so.

Interpretation: