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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 11     The expression "a significantly high cumulative turnover rate for the most recent period" as used to in Article 4, paragraph 1, subparagraph 10 of the Directions shall mean that the particular security meets both of the following conditions on a given day:
  1. The cumulative total turnover rate for the most recent 6 business days (inclusive of the given day) exceeds 50 percent, while there is a difference of 40 percent or more between the cumulative total turnover rate and the average value for the market as a whole, as calculated in accordance with this subparagraph.
  2. The intraday turnover rate is 10 percent or more, while there is a difference of 5 percent or more between the turnover rate and the average value for the market as a whole, as calculated in accordance with this subparagraph.
    Exceptions to the preceding paragraph are as follows:
  1. The daily turnover rate of newly-listed ordinary shares during the period in which no price fluctuation limit is imposed shall not be included in the calculations for the standards under the preceding paragraph.
  2. These 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, and ETNs.
  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 pursuant to Article 4, paragraph 1, subparagraph 4 of the Directions.
  4. The standards under the preceding paragraph shall not apply when the monetary value of confirmed transactions in the given security on the given day is less that NT$500 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 10 of the Directions for the five 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. Accumulated turnover of the security for the most recent 6 business days (inclusive of the given day) ≦ numerical standards for accumulated turnover 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. Turnover of the security on the given day ≦ numerical standards for turnover on the given day x (1 + day trading volume 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.