| Article 10 |
The trading periods for paired trades on the TPEx are 8 a.m. to 8:30 a.m. and 9:00 a.m. to 5 p.m.
A quote for a paired trade is valid during both trading periods on a given day. Prior to execution, an already placed buy/sell quote for a given paired trade may be canceled during either of the trading periods.
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| Article 11 |
(Deleted)
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| Article 12 |
Submission of quotes for paired trades is temporarily suspended on all trading days on which no price fluctuation limit is imposed under Article 55, paragraph 4 of the TPEx Trading Rules.
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| Article 13 |
The total dollar amount of the buy and sell quotes for paired trades placed by a securities firm on a given day shall be subject to the provisions of Article 35, paragraphs 8 to 10 of the TPEx Trading Rules. If, however, the post-netting dollar amount of the trades of a given pair executed through orders placed by a given securities firm on a given day is zero, the amounts of those trades shall be excluded from the calculation of the aforementioned total dollar amount of the buy and sell quotes.
(Paragraph 2 deleted)
(Paragraph 3 deleted)
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| Article 14 |
When a securities broker is engaged to submit a buy/sell quote for a paired trade, except where advance collection of funds or securities is otherwise required, the broker may decide at its discretion according to the circumstances whether or not to pre-collect from the principal an appropriate portion or a fixed percentage of such funds or securities.
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| Article 15 |
When a securities firm places a buy or sell quote for a paired trade, it shall do so in accordance with the following provisions, and the TPEx shall not match and execute the order until it verifies that the ticker code, unit price, and volume of the security indicated in both of the buy and sell quotes for the paired trade are consistent:
- When a single securities firm places both the buy and sell quotes for the same paired trade, it shall first submit a quote indicating the group code, securities firm code, ticker code and unit price of the security, type of quote (buy or sell), and total buy and sell size, and subsequently submit an order ticket indicating the serial number and type of the order ticket, account number of the principal (or dealer), and order volume.
- When different securities firms place the buy or sell quotes for the same paired trade, one of the sell-side securities firms shall act as representative and submit a quote indicating the group code, code of each securities firm of both the buy and sell sides, ticker code and unit price of the security, type of quote (purchase or sale), and buy and sell sizes. Subsequently, the sell-side representative securities firm and each of the other securities firms participating in the paired trade shall separately submit an order ticket indicating the serial number and type of the order ticket, account number of the principal (or dealer), and order volume.
For a paired block trade of a basket of stocks, only one principal's (or dealer's) account number may be submitted for each of the buy and sell quotes, and the TPEx shall not match and execute the order until it verifies that the ticker code, unit price, and volume of each security indicated in both of the buy and sell quotes for the paired trade are consistent.
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| Article 16 |
Transaction information on paired trades will be announced in real time through a system for the posting of trading information, but transaction information during pre-opening hours will be announced immediately after market opening.
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