On Sep. 30, 2025, TAI EXC revised Operation guidelines governing liquidity providers of beneficial certificates, Rules governing trading of beneficial certificates.
Procedures for verification and disclosure of material information of trust enterprises with TWSE listed beneficial certificates and offshore fund institutions.
Rules governing information filing by companies with TWSE listed securities and offshore fund institutions with TWSE listed offshore exchange-traded funds.
Operation directions for the advance collection of funds and securities by securities brokers in brokerage trading.
Document dated Sep. 30, 2025, received from TAI EXC Oct. 3, summarized on Oct. 8.
In Oct. 2025, TAI EXC issued and revised four rules on warrants listing, see #272706.
On Sep. 30, TAI TPEX revised 5 rules re ETF trading and disclosure.
TAI TPEX revised 5 ETF-related regulations in response to the growing scale of Taiwan’s ETF market, to strengthen ETF market development, maintain stability, and protect investors.
Amended Rules
Rules governing trading of passive exchange-traded fund and active exchange-traded fund beneficial certificates.
Directions for the advance collection of funds and securities in brokerage trading by securities brokers.
Procedures for verification and disclosure of material information of securities investment and futures trust enterprises of TPEx listed passive exchange-traded funds and active exchange-traded funds.
Operation directions governing liquidity providers of passive exchange-traded fund and active exchange-traded fund beneficial certificates.
Rules governing the review of passive exchange-traded fund and active exchange-traded fund beneficial certificates for trading on the TPEx.
Amendments
A new suspension of trading mechanism has been introduced, allowing issuers of eligible ETFs, particularly foreign component ETFs, to apply for temporary suspension during abnormal market conditions under defined conditions and procedures.
ETF subscription units can be sold immediately upon subscription completion, rather than waiting for depository system registration, aligning with general subscription practices.
Related amendments remove exemptions from market quotation disclosure during disposal periods and increase liquidity providers’ market-making duties.
Brokers handling ETF subscription sales must confirm system processing before submitting sell orders to ensure compliance and orderly execution.
ETF issuers are now required to disclose regular premium/discount information and provide explanations on their websites when deviations exceed certain thresholds, covering at least the past year and the most recent quarter.
Issuers must also establish internal procedures to promptly alert investors when premium/discount levels hit thresholds, enhancing transparency and investor protection.
Effectiveness
Most amendments are effective from Sep. 30, 2025, while disclosure and investor risk alert requirements will take effect from Dec. 1, 2025.
Sep. 30, 2025 TAI EXC Changes
On Sep. 30, 2025, TAI EXC revised Operation guidelines governing liquidity providers of beneficial certificates, Rules governing trading of beneficial certificates.
Procedures for verification and disclosure of material information of trust enterprises with TWSE listed beneficial certificates and offshore fund institutions.
Rules governing information filing by companies with TWSE listed securities and offshore fund institutions with TWSE listed offshore exchange-traded funds.
Operation directions for the advance collection of funds and securities by securities brokers in brokerage trading.
Document dated Sep. 30, 2025, received from TAI EXC Oct. 3, summarized on Oct. 8.
In Oct. 2025, TAI EXC issued and revised four rules on warrants listing, see #272706.
