| 1 |
These Points for Attention are promulgated under Article 14, paragraph 1, subparagraph 2 of the Operating Rules of the Taiwan Futures Exchange Corporation (TAIFEX).
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| 2 |
A futures commission merchant shall annex the following documents to and file an application with the TAIFEX Clearing Department one month before changing its consigned clearing member:
- "Report of Change of Consigned Clearing Member by a Futures Commission Merchant" (Schedule 1); and
- A copy of the consignment contract entered into with the new clearing member for handling of clearing and settlement.
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| 3 |
The "Report of Change of Consigned Clearing Member by a Futures Commission Merchant" shall be prepared in triplicate. The TAIFEX, the original consigned clearing member, and the futures commission merchant each shall retain one copy for their records.
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| 4 |
A futures commission merchant shall process the following matters:
- Notify the original clearing member to file an application with the TAIFEX for the transfer of open positions and margins by 5:30 p.m. on the business day preceding the effective date of the change.
- Prior to the opening of the regular trading session on the business day preceding the effective date of the change, transmit the information and file about the open positions to the new clearing member (refer to Schedule 2 for the format of the file).
- Prior to the opening of the regular trading session on the business day preceding the effective date of the change, complete the setting of the changed codes on the trading system and on the clearing system.
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| 5 |
A new clearing member shall process the following matters prior to opening of the regular trading session on the effective date of the change:
- Complete a "Clearing Member Application to Cancel the Suspension/Termination of Trading of Consigning Futures Commission Merchant" (Schedule 3) and fax the same to and telephone the TAIFEX Clearing Department.
- Complete the setting of the code changes for the trading system and the clearing system.
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| 6 |
The original clearing member shall complete an "Application for the Transfer of Positions and Margins" (Schedule 4) and file a position transfer application with the TAIFEX Clearing Department by 5:30 p.m. on the business day prior to the effective date of the change, and file an application for cash margin transfer with the TAIFEX prior to the end of the cash clearing margin withdrawal operations on the effective date of the change.
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| 7 |
The original clearing member shall apply by computer for return of the clearing and settlement funds with the TAIFEX Clearing Department. In the event of any malfunction in the computer system, the original clearing member shall fill out an "Application for Return of the Clearing and Settlement Fund" (Schedule 5) and file the application with the TAIFEX Clearing Department.
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