Trading Mechanism

  TIB stocks TIB stocks transferring to the general 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 general board
Trading units 1,000 shares
Tick size The same as stocks listed on the general board
Daily price fluctuation limit There is no limit for the first five days of listing.
While starting on the sixth day of listing, there is a 10% price fluctuation limit.		 Starting on the first day of listing transferred from TIB to the general board, there is a 10% price fluctuation limit.
Auction reference price at market opening of the transferring day are used to determine the daily price fluctuation limits.
Trading hours The same as stocks listed on the general board
Trading restrictions Day trading is not allowed None
Odd lot trading After-hour odd lot trading is allowed; intraday odd lot trading is not allowed. Both intraday and after-hour odd lot trading is allowed.


* The term “qualified investor” means an investor that meets one of the following criteria:

  1. A professional institutional investor or a juristic person with 1 or more years of experience in securities trading investment.
  2. Legally incorporated venture capital enterprises.
  3. Juristic person obtaining IPO shares at TIB through negotiated sales.
  4. A natural person with 2 or more years of experience in securities investment and meeting one of the following criteria:
    1. The person has financial statement of NT$2 million or more.
    2. The person has an average annual income of NT$1 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.