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Article NO. Content

Title:

Operation Directions for Applications by Overseas Chinese, Foreign Nationals, and Mainland Area Investors for Registration to Invest in Domestic Securities or Trade Domestic Futures  CH

Amended Date: 2019.12.18 (Articles 1, 2, 3, 5 amended,English version coming soon)
Current English version amended on 2019.02.12 
Categories: Securities Exchange Market > Trading > Securities Transaction
6      Registration of two or more trading accounts opened at the same place of business of the same securities firm
  1. A Mainland Area institutional investor satisfying any of the following conditions may open two or more trading accounts at the same place of business of the same securities broker.
    1. The investment strategy calls for operation by an external manager.
    2. Internal investment operations use different transaction platforms, e.g.:
      1. Different branches must be differentiated by different accounts.
      2. Need for accounts to be operated and managed by different internal trading units or traders.
      3. Need to differentiate proprietary trading positions and client positions by different accounts.
      4. Different policies must be differentiated by different accounts.
    3. It is necessary to assign different external account administrators (e.g. global brokers or global custodian banks) to operate and manage accounts.
    4. Other conditions approved by the Competent Authority.
  2. The agent (or representative) of the Mainland Area institutional investor should transmit the completely filled out Registration Form for Opening Two or More Trading Accounts in the Same Place of Business of the Same Securities Brokerage Firm (Form 6-1) online via the TWSE system, and fax to the TWSE as confirmation the instruction letter for opening two or more trading accounts in the same place of business of the same securities brokerage firm, personally signed by the Mainland Area institutional investor, along with the Registration Application Form for Opening Two or More Trading Accounts in the Same Place of Business of the Same Securities Brokerage Firm. Only then may the agent (or representative) of the Mainland Area institutional investor carry out the account opening with the securities broker, by presenting a copy of the printed-out Certificate of Completed Registration for Opening Two or More Trading Accounts in the Same Place of Business of the Same Securities Brokerage Firm (Form 6-2) and a letter of application for account opening personally signed by the Mainland Area institutional investor.

    Form 6-1: Registration Form for Opening Two or More Trading Accounts in the Same Place of Business of the Same Securities Brokerage Firm

    Form 6-2: Certificate of Completed Registration for Opening Two or More Trading Accounts in the Same Place of Business of the Same Securities Brokerage Firm
  3. The letter of application for account opening referred to in the preceding paragraph should specify the reasons for the application for account opening, and the following evidentiary documents should be provided therewith:
    1. Where the investment strategy calls for operation by an external manager:
      1. Photocopy of the investment management agreement; or
      2. Letter issued by the external manager confirming that it has been engaged by the Mainland Area institutional investor for such management operations.
    2. Where internal investment operations use different transaction platforms:
      A description of the internal investment operations of the Mainland Area institutional investor and a statement that there is no misrepresentation.
    3. Where different external account administrators are assigned:
      1. Photocopy of the management agreement; or
      2. Letter issued by the external account administrator confirming that it has been engaged by the Mainland Area institutional investor for such purpose.
  4. When opening the account, the securities broker shall suffix the name of the Mainland Area institutional investor with the registered Chinese name, to clearly distinguish the authority and responsibility for each of the different accounts of the same investor, so as to facilitate management.
  5. Name change
    The agent (or representative) of the Mainland Area institutional investor should transmit the completely filled out Application Form for Registration of Account Name Change Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm (Form 6-3) online via the TWSE system, and fax to the TWSE as confirmation the instruction letter for trading account name change where two or more trading accounts have been opened in the same place of business of the same securities brokerage firm, personally signed by the Mainland Area institutional investor, along with the Registration Application Form for Account Name Change Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm. Only then may the agent (or representative) of the Mainland Area institutional investor carry out the name change with the securities broker, by presenting a copy of the printed-out Certificate of Completed Registration for Account Name Change Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm (Form 6-4) and a letter of application for name change personally signed by the Mainland Area institutional investor.
  6. Cancellation
    The agent (or representative) of the Mainland Area institutional investor should transmit the completely filled out Application Form for Registration of Account Cancellation Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm (Form 6-5) online via the TWSE system, and fax to the TWSE as confirmation the instruction letter for trading account cancellation where two or more trading accounts have been opened in the same place of business of the same securities brokerage firm, personally signed by the Mainland Area institutional investor, along with the Account Cancellation Registration Application Form Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm. Only then may the agent (or representative) of the Mainland Area institutional investor carry out the cancellation with the securities broker, by presenting a copy of the printed-out Certificate of Completed Registration for Account Cancellation Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm (Form 6-6) and a letter of application for cancellation personally signed by the Mainland Area institutional investor.

    Form 6-3: Application Form for Registration of Account Name Change Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm

    Form 6-4: Certificate of Completed Registration for Account Name Change Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm

    Form 6-5: Application Form for Registration of Account Cancellation Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm

    Form 6-6: Certificate of Completed Registration for Account Cancellation Where Two or More Trading Accounts Have Been Opened in the Same Place of Business of the Same Securities Brokerage Firm