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Article NO. Content

Title:

Numerical Standards for and Exceptions to the Irregularity Standards in Article 4 of the Taiwan Stock Exchange Corporation's Directions for Announcement or Notice of Attention to Trading Information and Related Dispositions  CH

Amended Date: 2021.07.26 
Categories: Market Supervision > Stock Market Surveillance
Article 10     The expression "a significant increase in the daily volume of trading for a given day or the most recent several days relative to the daily average volume of trade for the most recent period" as used in Article 4, paragraph 1, subparagraph 9 of the Directions shall mean that the particular security meets both of the following conditions on a given day:
  1. The daily average volume of trade for the most recent 6 business days (inclusive of the given day) is greater by five times or more than the daily average volume of trade for the most recent 60 business days (inclusive of the given day), while the increase is greater than the average value for the market as a whole, as calculated in accordance with this subparagraph, by a factor of four times or more.
  2. The volume of trade for the given day is greater by five times or more than the average daily volume of trade for the most recent 60 business days (inclusive of the given day), while the increase is greater than the average value for the market as a whole, as calculated in accordance with this subparagraph, by a factor of four times or more.
    Exceptions to the preceding paragraph are as follows:
  1. The daily transaction volumes of newly-listed ordinary shares during the period in which no price fluctuation limit is imposed shall not be included in the calculations for these standards under the preceding paragraph.
  2. The standards under the preceding paragraph shall not apply to convertible bonds, bonds with non-detachable share options, preference shares with non-detachable share options, certificates of entitlement to new shares from convertible bond, call (put) warrants, share options, ETF beneficiary certificates, ETNs, and real estate investment trust beneficiary securities.
  3. The standards under the preceding paragraph shall not apply when during the most recent 6 business days (inclusive of the given day), trading information for the given security has been announced according to Article 4, paragraph 1, subparagraph 3 of the Directions.
  4. The standards under the preceding paragraph shall not apply when the security is in one of the following circumstances on the given day:
    1. When turnover is less than 0.1 percent.
    2. When trading volume is below 500 trading units.
    3. When trading value is less than NT$30 million.
  5. The standards under the preceding paragraph shall not apply when a particular security for which attention to trading information has been announced pursuant to Article 4, paragraph 1, subparagraph 9 of the Directions for the 5 business days prior to the given day within the most recent 6 business days (inclusive of the given day) has met one of the following circumstances on the given day:
    1. Increase of average trading volume of the security for the most recent 6 business days (inclusive of the given day) ≦ numerical standards for increase of average trading volume for the most recent 6 business days (inclusive of the given day) x (1 + day trading volume of the security on the 6 business days prior the given day ÷ total trading volume for the 6 business days prior to the given day [exclusive of day trading volume]).
    2. Increase of trading volume of the security on the given day ≦ numerical standards for increase of trading volume on the given day x (1 + day trading volume of the security on the business day prior to the given day ÷ total trading volume on the business day prior to the given day [exclusive of day trading volume]).
    3. Trading volume on the given day is less than the day trading volume on each of the 5 business days prior to the given day.