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Article NO. Content


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

Amended Date: 2011.01.12 
Categories: Securities Exchange Market > Trading > Securities Transaction
Article 9     Securities auctioned pursuant to Article 7, paragraph 1, subparagraph 2 shall be traded in the following order and in the descending order of received purchase consignment bids:
  1. Higher bids shall be transacted first.
  2. Where bids are quoted at the same price, they shall be satisfied according to the ratio of the bid volumes until no whole lot remains. If there is a remainder, it shall be allotted in the order of a computer-generated random sequence, with only one lot being allotted to each consignment.
    If the total volume traded in the order assigned by the preceding paragraph is less than the announced auction volume, the TWSE shall consult with the auctioning securities firms regarding an alternative procedure.
    Bids submitted by auction principals, or those that are lower than the announced base price, or those that cannot be satisfied in accordance with paragraph 1, shall be invalidated.