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Trading Mechanism

Trading Rules

Security code
  • Domestic and foreign ETNs: 02XXXX
  • Leveraged ETNs: 02XXXL
  • Inverse ETNs: 02XXXR
  • Bond ETNs: 02XXXB
Rules for naming security abbreviation
  • The first 4 characters are the name of the issuer, followed by 8 characters that are the underlying index (commodity) and 1 character that is "N" for ETNs. The last 3 characters are attribute. All characters are left-aligned. For example, FTxx TXXX Daily Leveraged 2X ETN is abbreviated to "FTxxTXXXN2X".
Unit
  • 1,000 ETNs units
Tick size
  • The tick size shall be 1 cent if the market price is below NT$50, and 5 cents if the market price is NT$50 or above.
Price fluctuation limits
  • For an ETN with Foreign Component Securities, there is no limit.
  • For an ETN with domestic index components, the daily fluctuation limit shall be 10 %, and for a leveraged or inverse one, the daily fluctuation limit shall be multiplied.
Restrictions
  • No day trading, margin trading, short sale, or odd lot trading.
  • Not to be used as underlying or collateral of warrant or included in regular fixed investment or all-in-one trading account.
Indicative value
  • The issuer reports the value on the last business day before the market opens on each business day.
Intraday indicative value
  • Updated at least once every 15 seconds on TWSE MIS
Subscription/Sellback
  • Investors may subscribe or sell back ETNs by having a securities broker apply to the issuer at the closing indicative value on the application day.
  • Minimum subscription/sellback and condition for rejection of subscription/sellback are to be specified by the issuer in the prospectus.
Liquidity provider
  • The issuer has itself or another act as the liquidity provider, quotations are provided on centralized securities exchange market.
Risk disclosure statement
  • When trading ETNs or applying to a securities firm buy or sell ETNs, an investor is required to sign a risk disclosure statement before the securities firm may accept the order.
Investor eligibility
  • When trading or applying to a securities firm to subscribe or sellback leveraged or inverse ETNs for the first time, an investor shall meet at least one of the following conditions:
    • Having opened a margin account.
    • Having had at least 10 trading orders for call (put) warrants executed within the most recent one year.
    • Having had at least 10 trading orders for futures trading contracts listed on the Taiwan Futures Exchange executed within the most recent one year.
    • Having trading a record of purchasing leveraged or inverse ETNs.
Securities firm's segregated account
  • The securities firm must open a segregated account in the name of "XX Securities firm ETNs segregated account".

Intraday Indicative Value

Intraday Trading Information

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