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These Guidelines are specially adopted to effectively manage the use of auction terminals by futures commission merchants (FCMs).
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These Guidelines are applicable to the management of auction terminals of FCMs. Matters not provided for herein shall be governed by other applicable laws and regulations, relevant rules issued by the Taiwan Futures Association or other relevant bylaws, circular letters, and public announcements of the Taiwan Futures Exchange Corporation (TAIFEX).
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The term "auction terminals"as used in these Guidelines includes the following:
- Auction terminals at an FCM's end (including terminals that the FCM provides for a futures introducing broker to conduct futures trading on its behalf; the same applies below).
- The server by which an FCM processes trading orders transmitted electronically by traders.
- Auction terminals by which trading order forms are completed and submitted electronically (including terminals that an FCM provides for a futures introducing broker to conduct futures trading on its behalf).
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Auction terminals at a futures broker's end, and auction terminals by which trading order forms are completed and submitted electronically shall be placed and managed within a designated area inside the trading room, and are prohibited from being placed inside an information/reading room. Auction terminals at a futures dealer's end shall be placed inside the place of business.
The designated area mentioned in the preceding paragraph shall be clearly partitioned and have physical facilities to control personnel access. The FCM shall prescribe rules for the use and management of the designated area and relevant operations, and submit the rules for approval by the board of directors.
During trading hours, no persons other than the chairman, general manager, operations department head, and registered qualified futures associated persons are allowed to enter such designated area; provided that this rule does not apply to persons that are approved by the operations department head due to business needs.
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An FCM shall retain for at least 5 years the locations and network identification addresses of auction terminals and the names of brokerage trading associated persons authorized to complete and submit trading order forms electronically, and any changes in any of the above.
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An FCM shall make signs clearly indicating the counter numbers and attach these signs to the auction terminals. The counter numbers, and any changes thereto, shall be retained for at least 5 years. The numbering method is specified in the appendix.
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An FCM shall duly comply with relevant provisions of the Examination System for the Establishment of Information and Communications Security for Future Commission Merchants. During trading hours, the network connection to the FCM's auction terminals shall be segregated from public networks to the necessary extent as in accordance with the information security policy adopted by the FCM.
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An FCM implementing the completion and submission of trading order forms by electronic means shall do so in compliance with the Operational Guidelines for Futures Commission Merchants Completing and Submitting Trading Order Forms Electronically issued by the TAIFEX.
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These Guidelines, and any amendments hereto, shall be implemented upon public announcement following approval and recordation by the competent authority.
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