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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 9     The expression "an irregularity in the percentage of premium or discount calculated from the closing price of a Taiwan Depositary Receipts (TDR) and the closing price of the stock it represents on the exchange market of its home country" as used in Article 4, paragraph 1, subparagraph 8 of the Directions shall mean that the percentage of premium or discount calculated from the closing price of the TDRs and the closing price of the stock it represents on the exchange market of its home country meets any of the following conditions:
  1. When on a given day, the percentage of premium on a TDR announced through the MOPS for the preceding business day is in excess of 80 percent, and the closing price for the day must be higher than the opening reference price.
  2. When on a given day, the percentage of premium on a TDR announced through the MOPS for the preceding business day is in excess of 30 percent, while its closing price for the given day is also the highest of the most recent 6 business days (inclusive of the given day), provided that if there is no closing price for the most recent 5 business days (excluding the given day), then the closing price for the given day must also be higher than the opening reference price.
  3. When on a given day, the percentage of discount on a TDR announced through the MOPS for the preceding business day is in excess of 30 percent, while its closing price for the given day is also the lowest of the most recent 6 business days (inclusive of the given day), provided that if there is no closing price for the most recent 5 business days (excluding the given day), then the closing price for the given day must also be lower than the opening reference price.
    Exception to the preceding paragraph is as follows:
    When making for the TDR the comparison based on the closing prices for the most recent 6 days (inclusive of the given day) by the standards prescribed in the preceding paragraph, if price fluctuation occurs due to non trade-related factors (such as ex-rights or ex-dividend factors), those factors in the fluctuation shall be excluded from the calculation.