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Article NO. Content


Taiwan Stock Exchange Corporation Operation Directions Governing Liquidity Providers of Call (Put) Warrants  CH

Amended Date: 2018.12.24 
Categories: Securities Exchange Market > Trading > Call (Put) Warrants
9     If the liquidity provider does not comply with the price quoting rules, or if on the given day it is discovered that in trading of the warrants there has arisen any circumstance that meets a standard of "irregularity" under Article 2 of the TWSE Directions for Announcement or Notice of Attention to Trading Information and Dispositions, the TWSE will immediately request an explanation by the liquidity provider and may conduct an on-site inquiry. If the liquidity provider's explanations are found obviously unreasonable, the TWSE may request by letter the liquidity provider to take pay attention to the matter and take corrective action. If the liquidity provider has been requested by letter from the TWSE to take corrective action during the past year because of a cause under this paragraph, the TWSE may additionally impose a penalty of from NT$30,000 to NT$100,000 on the issuer of the warrants. If the circumstances of breach or irregularity are serious, the TWSE may also, at its sole discretion, notify and restrict the issuer from issuing warrants during the following one month. In addition, the TWSE may notify the issuer to change liquidity providers.
    Where the TWSE issues a letter to an issuer requiring attention and rectification, imposes a breach penalty on an issuer, or restrains an issuer from applying for issuing warrants for a prescribed period of time, the TWSE shall submit a copy to the competent authority.
    The issuer of the call (put) warrants shall remit payment of the penalty to the TWSE Finance Department within 5 days from the date on which it receives notice of the penalty.