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Article NO. Content

Title:

Taiwan Stock Exchange Corporation Operating Directions for Subscription and Sellback of Exchange Traded Notes  CH

Announced Date: 2018.09.10 
Categories: Securities Exchange Market > Trading > Other Securities
5     A customer engaging a securities firm for the first time to carry out subscription or sellback of leveraged or inverse ETNs shall meet one of the following conditions:
  1. Having opened a margin account.
  2. Having had at least 10 trading orders for purchasing or selling call (put) warrants executed within the past one year.
  3. Having had at least 10 trading orders for purchasing or selling futures trading contracts listed on the Taiwan Futures Exchange executed within the past one year.
  4. Having trading record for purchasing leveraged or inverse ETN.
    Preceding paragraph 1 does not apply to professional investors prescribed in the Regulations Governing Offshore Structured Products, privately placed securities investment trust funds managed by securities investment trust enterprises, futures trust funds offered by futures trust enterprises to persons with prescribed qualifications, discretionary investment accounts managed by securities investment trust enterprises, securities investment consulting enterprises or securities brokers concurrently operating securities investment consulting business, or discretionary investment accounts managed by managed future enterprises.
    If a customer engages in abnormal tradings for the purpose of meeting the conditions set out in the first paragraph, the securities firm shall assess whether the customer has substantial experience in tradings set out in the first paragraph and may refuse to accept orders for subscription or sellback if necessary.