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Article NO. Content

Title:

Taiwan Stock Exchange Corporation Measures for Handling Malfunctions or Telecommunication Disruptions in Trading Systems or Trading Transmission Systems  CH

Amended Date: 2011.01.26 
Categories: Information Operations
4     Measures following resumption of trading:
  1. If the TWSE resumes trading by activating the backup systems, after accepting trading orders for a period of time, it shall carry out the first trade matching through call auction. Existing but unexecuted trading orders shall remain valid, with the order of priority remaining unchanged; however, when the trading resumes after market opening, the priority for satisfying trading orders that have been entered before market opening but not yet executed shall change from matching them in a random order determined by computer to matching them in order of price priority and time priority. If the data of any trading orders that have been entered but not yet executed are lost, such lost data shall be invalid; securities firms shall ascertain whether the previously entered trading orders have in fact not been executed or have been cancelled before they may re-enter such unexecuted trading orders. Verification of trading orders data between securities firms and the TWSE shall be conducted in accordance with the applicable operation manuals of the TWSE.
  2. If the TWSE resumes trading by repairing the systems, depending on the timing of resumption of trading, the trade matching shall be carried out following the method as required by applicable regulations. If the data in the computer memory of the TWSE is fully intact, previous unexecuted trading orders shall remain valid, and the order of priority shall remain unchanged. If the data in the computer memory of the TWSE is lost in part or in whole, all previous unexecuted trading orders shall be invalid. Securities firms shall first ascertain whether such previous unexecuted trading orders have in fact not been executed or have been cancelled before they may re-enter the unexecuted trading orders.