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If a securities firm or a securities finance enterprise fails to carry out settlement within the time frame specified in Article 104, paragraph 5, subparagraph 1 or 2, the TWSE shall impose a delay fine pursuant to Article 137. A securities firm that fails to pay cash collateral required for securities borrowing shall be deemed to have not completed the delivery obligation of the securities deliverable.
If a securities firm or a securities finance enterprise fails to pay a price payable or to pay cash collateral required for securities borrowing (including any collateral shortfall the borrower is required to cover for renewal of securities borrowing) by the end of banking hours, it is a breach of settlement obligations.
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