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Article 67
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A securities firm may seek refinancing from a securities finance enterprise of any funds and securities that it needs in conducting securities trading margin purchase and short sale business.
The securities firm is still required to fulfill its clearing and settlement obligations with the TWSE or the TPEx with respect to the funds or securities refinanced under the preceding paragraph.
The securities firm shall prepare daily statements according to the following categories, and carry out clearing and settlement operations in accordance with the provisions of the TWSE Operating Rules, the TPEx Trading Rules, the Rules Governing Payment and Settlement Operations for Securities Traded on the TPEx, and the operating rules of the central securities depository:
- For margin purchases and short sales executed on behalf of securities finance enterprises, the securities firm shall prepare a separate Table of Applications for Margin Purchases and Short Sales by Securities Finance Enterprises, and reconcile the information therein with the records of the securities finance enterprises.
- For margin purchases and short sales executed with its own funds, the securities firm shall prepare a separate Itemized Table of Margin Purchases and Short Sales by Securities Firm.
- For trades executed with the refinancing from securities finance enterprises, the securities firm shall prepare a separate Table of Applications by Securities Firm for Refinancing in Margin Purchases and Short Sales, and reconcile the information therein with the records of the securities finance enterprises.
Upon entering the information respectively under the subparagraphs of the preceding paragraph into the mainframe computer of the central securities depository by the specified time limit and upon entering the prepared summary statements into the mainframe computer of the TWSE or TPEx, the securities firm shall print out a Delivery List or Payment and Settlement List containing the information entered.
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