Trading Mechanism
TIB stocks | TIB stocks transferring to the main board | |
---|---|---|
Investor qualifications | Must be “qualified investors”* or the TIB company buying back their own shares in accordance with the law. | None |
Trading methods | The same as stocks listed on the main board | |
Trading units | 1,000 shares | |
Tick size | The same as stocks listed on the main board | |
Daily price fluctuation limit | The same as stocks listed on the main board (10%) | The same as stocks listed on the main board; however, there is no limit for the first five days for companies transferring from the TIB to the main board. |
Trading hours | The same as stocks listed on the main board | |
Trading restrictions | Day trading, margin trading, and securities borrowing and lending not allowed | None |
Odd lot trading | After-hour odd lot trading is allowed; intraday odd lot trading not allowed | Both intraday and after-hour odd lot trading allowed |
* The term “qualified investor” means an investor that meets one of the following criteria:
- A professional institutional investor or a juristic person with 2 or more years of experience in securities trading investment.
- Legally incorporated venture capital enterprises.
- A natural person with 2 or more years of experience in securities investment and meeting one of the following criteria:
- The person has financial statement of NT$5 million or m
- The person has an average annual income of NT$1.5 million or more over the most recent two fiscal years.
**When purchasing TIB stocks for the first time, the qualified investor who is natural person must sign a Risk Disclosure Statement for TIB Securities and the explanation and disclosure regarding the aforementioned Risk Disclosure Statement is required before a brokerage firm accepts said investor’s consignment.