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Article NO. Content


Taiwan Stock Exchange Corporation Rules Governing Purchase of Listed Securities by Reverse Auction  CH

Amended Date: 2016.12.30 
Categories: Securities Exchange Market > Trading > Securities Transaction
Article 4     For securities firms participating in the bidding to sell in a reverse auction, their quotes shall be entered by means of a computer link to the TWSE's computer network from 3 p.m. to 4 p.m., and trade execution shall be confirmed on the same trading day as the quote is entered.
    Except as otherwise prescribed in a public announcement, the quantity of quotes as referred to in the preceding paragraph shall be expressed in the trading unit or multiple for the particular type of stock and shall not be subject to the minimum of 500 trading units imposed on regular trade orders. Quotes that do not comply with this provision shall be invalid.
    The reverse auction floor price and quoted prices of bids to sell shall be calculated on a per-share (call (put) warrant unit, beneficial unit, or depositary receipt unit, all of which are abbreviated below as "unit") basis.
    During the quoting period, a securities firm may use a computer with an online link to the TWSE's computer network to cancel or amend the quantity or price of any previously quoted bid to sell.