| Article 1 |
These Rules are adopted to develop the passive exchange-traded fund ("passive ETF") and active exchange-traded fund ("active ETF") beneficial certificate market and to enhance the block trading efficiency and information transparency thereof.
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| Article 2 |
The use of the passive ETF and active ETF Request for Quote (RFQ) Platform provided by the Taipei Exchange (TPEx) shall be governed by these Rules, unless otherwise provided by the competent authority and relevant laws and regulations.
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| Article 3 |
The term "participant" in these Rules means a professional institutional investor that has signed a Passive Exchange-Traded Fund and Active Exchange-Trade Fund Request for Quote Platform Participation Agreement with the TPEx.
The term "professional institutional investor" in the preceding paragraph means a professional institutional investor as defined in Article 3, paragraph 3, subparagraph 1 of the Regulations Governing Offshore Structured Products.
The Passive Exchange-Traded Fund and Active Exchange-Traded Fund Request for Quote Platform Participation Agreement mentioned in paragraph 1 will be separately prescribed by the TPEx.
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| Article 4 |
The securities eligible for RFQs on the platform are the beneficial certificates of TPEx traded passive ETFs and active ETFs with domestic or foreign component bonds.
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| Article 5 |
The hours for RFQs and responses on the Platform are from 8 a.m. to 4 p.m.
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| Article 6 |
The quantity of a trading quote requested in an RFQ on the Platform shall be 500 quotation units or more, with 1,000 beneficial units making up one quotation unit. However, if the total monetary amount of a trading quote requested in an RFQ reaches NT$15 million or more, the minimum trading quote quantity shall not apply.
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| Article 7 |
The unit for trade price quotes on the platform is the price per beneficial unit. The tick size for trade price quote is 1 cent.
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| Article 8 |
RFQs on the Platform or price quotes in response to RFQs shall be entered according to the menu on the Platform.
Participants using the Platform shall comply with the following provisions when submitting RFQs or responding with prices:
- A responder may respond with a price within 5 minutes from receiving an RFQ. If after 5 minutes an RFQ has received no response or has been rejected, the Platform automatically cancels the RFQ.
- If the RFQ requester within 5 minutes accepts the trade price quoted by a responder, an agreement is reached; if after 5 minutes the RFQ submitter has not accepted or has rejected the responder's quote, the Platform automatically cancels the quote. Before the RFQ requester has accepted or rejected a quote, the responder may, within 5 minutes from quoting their initial response price, cancel or modify the trade price quoted in their response.
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| Article 9 |
Participants who have reached an agreement in accordance with the preceding article may, with the consent of the other party, report the cancellation of the agreement (hereinafter referred to as an "account change") to the TPEx prior to the reporting of a block trade.
Account change operations under the preceding paragraph shall be done by both parties issuing written supporting documents.
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| Article 10 |
When the participants have reached an agreement under Article 8, each shall separately notify their securities broker on the agreed date to submit their quote for the block trade by the paired trade method, and such trades shall be handled in accordance with the TPEx Regulations Governing Block Trading of TPEx Listed Securities. However, this does not apply in cases of account changes under Article 9.
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| Article 11 |
A participant using the Platform shall, based on the number of agreements it reached in the current month, pay a business service fee to the TPEx by the 10th day of the following month at the rate announced by the TPEx.
The TPEx shall separately prescribe caps on the business services fees mentioned in the preceding paragraph.
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| Article 12 |
If any of the following applies to a participant, the TPEx may, depending on the seriousness of the circumstances, restrict or suspend the participant's right to participate in the Platform:
- Falsehood or misrepresentation in reporting an account change.
- Violation of Article 10.
- Violation of Article 11.
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| Article 13 |
These Rules, and any amendments hereto, shall be publicly announced and enter into force after submission to and approval by the competent authority.
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