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Chapter 1 General Provisions
Article 1     These Rules are prescribed pursuant to the provisions of paragraph 2, Article 10 of the Operating Rules of the Taiwan Futures Exchange Corporation ("TAIFEX") for effective administration of use of TAIFEX trading information and promoting public access to such information.
Article 2     The administration of TAIFEX trading information shall be governed by these Rules. Matters not provided for herein shall be governed by other relevant laws and regulations or the rules, circulars and public announcements of the TAIFEX.
Article 3     The terms used in these Rules are defined as follows:
  1. Competent authority means the Financial Supervisory Commission.
  2. "User applicant" means futures commission merchants, futures introducing brokers, clearing members, telecommunications enterprises, information companies, news media institutions, radio/television enterprises, Internet service providers, and qualified foreign institutional investors who apply for the use of trading information pursuant to the provisions of these Rules, and other enterprises that the TAIFEX permits to so apply.
  3. "Licensed distributor" means an overseas-area exchange, exchange group, or entity engaging in market information business within such a group, that, as licensed by the TAIFEX, distributes trading information.
  4. "Licensed distribution user" means an enterprise that, with the consent of a licensed distributor, obtains the trading information of the TAIFEX.
  5. "Trading information" means information developed or transmitted by the TAIFEX relating to futures trading and derivative information thereof. The items of information to be transmitted are specified in Attachment 1.
  6. "Electronic display" means a single display screen on which technical analysis chart or inquiry indexing with respect to futures trading information can be displayed at one's option.
  7. "Television wall" means a combination of electronic displays used for display of all or a part of futures trading information.
  8. "Real-time information" means trading information disseminated during the market trading hours. Real-time information is classified as "Ultra information" (on a tick-by-tick basis) and "Core information" (for a specified time interval) according to disclosure frequency.
  9. "After-market information" means trading information disseminated after the market trading hours.
  10. "Non-display usage" means any application that accesses real-time information for automatic calculation, processing, analysis, determination of the trade price or quantity, or any other trading purposes.
  11. "Subscriber" means any person who receives the trading information disseminated by a user applicant.
  12. "Licensed distribution subscriber" means a person who receives the trading information disseminated by a licensed distribution user.
  13. "Direct connection" and "indirect connection": "direct connection" means the user applicant or licensed distribution user obtains trading information by connecting directly to TAIFEX computer facilities; "indirect connection" means the user applicant or licensed distribution user obtains trading information through relay from another user applicant or licensed distribution user.
  14. "Retransmission session" means a session for the purpose of enabling a user applicant or licensed distribution user with a direct connection to obtain retransmission of real-time information within a specified range.
  15. "Overseas area" means any area other than Taiwan, Penghu, Kinmen, and Matsu (Republic of China).
Article 4     The TAIFEX owns the trading information it provides and related software and hardware equipment as well as rights and relevant interests provided under copyright, trademark, and patent laws.
    With the exception of the places of business of futures commission merchants and securities firms, the following facilities, equipment, and activities are not allowed in any site where the trading information of the TAIFEX will be used:
  1. Electric display panels or ticker-style displays for futures trading information.
  2. Terminals used for bidding.
  3. Signing of trading contracts or accepting orders for futures or options trading.
  4. Engaging in business activities similar to those of the TAIFEX, futures clearing houses, or futures enterprises.
Article 4-1     An enterprise applying to use trading information of the TAIFEX shall apply with the licensed distributor responsible for the enterprise's local area. If the local area does not have a licensed distributor, it shall apply with the TAIFEX.
Chapter 2 Application
Article 5     User applicants shall sign a Trading Information User Agreement with the TAIFEX for the use of trading information.
    Futures commission merchants and futures introducing brokers who intend to receive and use the trading information relayed by another user applicant shall sign a Trading Information User Agreement with TAIFEX first.
    TAIFEX may take legal action as provided by law against any unauthorized use of trading information and seek compensation for damages sustained therefrom.
Article 6     A linkup safety test should be passed before the application for direct connection between systems for dissemination of trading information may be approved by the TAIFEX. The connection to the information system of the TAIFEX shall not affect the operation of the centralized futures trading at the TAIFEX. TAIFEX may, if deemed necessary, place restrictions on applications.
    When applying for use of trading information, the user applicant shall specify in the application the type or model, quantity and planned installation site of its equipment and proceed with the installation after having obtained the approval of the TAIFEX. The user applicant may not relocate such equipment or install additional equipment without the prior approval of the TAIFEX.
    An applicant user wishing to switch the method of its connection for using the TAIFEX trading information shall report to the TAIFEX in advance for approval.
Article 7     If the user applicant is an information company or Internet service provider, it shall meet the following requirements when applying for the use of TAIFEX trading information:
  1. Having the capability to independently develop and maintain software, or having retained the service of a provider capable of software development and maintenance;
  2. Its head office equipped with a monitor center having operation control capability and staffed by software and hardware engineers;
  3. Maintaining operating fund sufficient to support one full year of operation; and
  4. Having not violated these Rules in the most recent two years.
    If the user applicant is a telecommunications enterprise, news media institution, or radio/television enterprise, it shall meet the requirement in subparagraph 4 of the preceding paragraph when applying for the use of TAIFEX trading information.
    The qualifications of user applicants not engaging principally in the provision of trading information shall be prescribed separately by the TAIFEX based on actual needs.
Article 8     Unless otherwise provided by these Rules, user applicants shall submit the following documentation when applying for using trading information:
  1. Application form;
  2. A photocopy of the citizen's ID card of the responsible person or representative;
  3. Documentation of company registration or, in the case of a foundation, a photocopy of the registration certificate;
  4. Photocopy of the documentation of business registration;
  5. For a concession enterprise, a photocopy of the permit issued by the authority having jurisdiction over the enterprise concerned is required; and
  6. The CPA-certified financial statements for the most recent year.
  7. For an indirect connection, a photocopy of the documentation of the source of the trading information is also required.
  8. Any other documentation that the TAIFEX requires to be submitted.
    The document specified in subparagraph 5 of the preceding paragraph means the following if the user applicant is a radio/television enterprise that is a cable television enterprise:
  1. For cable system operator, a photocopy of cable television system license and system operator license.
  2. For cable broadcasting system operator, a photocopy of cable broadcasting system registration certificate.
    Where futures commission merchants or futures introducing brokers apply for use of trading information, the relevant provisions governing the establishment of futures commission merchants and futures introducing brokers shall apply.
Article 9     If the user applicant is an overseas-area information company, news media institution, or qualified institutional investor, it shall submit the following documentation when applying for use of TAIFEX trading information:
  1. Application form;
  2. The original of certificate of incorporation duly certified by a representative office of the ROC abroad;
  3. The original of the power of attorney or letter of appointment authorizing its local agent or representative to handle matters with respect to the dissemination of trading information abroad; and
  4. A photocopy of the citizen's ID card, resident certificate or company license of its local agent or representative.
  5. For an indirect connection, a photocopy of the documentation of the source of the trading information is also required.
  6. Any other documentation that the TAIFEX requires to be submitted.
Chapter 3 Restrictions on Use
Article 10     Other than futures commission merchants and futures introducing brokers, user applicants shall not engage in businesses of a futures commission merchant or introducing broker.
    Other than the business places of futures commission merchants or clearing members, user applicants shall not set up terminals for competitive bidding at their business premises.
Article 11     For trading information that has been processed with added value, the user applicant shall conspicuously identify its name or a distinct service mark with a notation to the effect and bear all legal responsibilities thereof.
    When transmitting or broadcasting trading information, the user applicant shall have adequate software and hardware technology to prevent the information from unauthorized use, theft or being illegally connected to external systems.
Article 12     User applicants shall retain the daily trading information it has transmitted or broadcast for at least three days and make them available upon the query of the TAIFEX at any time.
    When simultaneously broadcasting news information, a user applicant shall verify the authenticity of such news, specify its source and basis at the time of broadcast, and bear all legal responsibilities thereof if the news information is untruthful.
    When a user applicant discovers any error in trading information transmitted or broadcast, or in news content being simultaneously broadcast, it shall on its own initiative immediately notify the TAIFEX and simultaneously issue a correction to the public.
Article 13     Unless otherwise approved by TAIFEX, a user applicant shall not lease, sell, or transfer the trading information to any other person or relay the trading information in any manner to any other place.
    Futures commission merchants, futures introducing brokers, or clearing members shall not relay trading information to places other than their business premises. With the consent of the TAIFEX, however, a futures commission merchant may disseminate real-time information to the users who have opened accounts with it, for non-display usage.
    Futures commission merchants, futures introducing brokers, or clearing members who provide trading information over the Internet through websites they operate shall do so in the name of a user applicant approved by the TAIFEX. With the consent of the TAIFEX, however, a futures commission merchant, futures introducing broker, or clearing member may provide trading information under its own name to investors who have opened accounts with it.
Article 14     If the user applicant is a radio/television enterprise, it may, after applying and obtaining the approval of the TAIFEX for a direct connection pursuant to the provisions of Article 8 hereof, play trading information channels produced and supplied by other user applicants.
    A user applicant that is a radio/television enterprise that applied for an indirect connection pursuant to the provisions of Article 8 hereof may only broadcast trading information relayed by other authorized user applicants of the TAIFEX.
    A user applicant that is a radio/television enterprise may only transmit trading information in the form of sounds, images and pictures, and shall not provide trading information to subscribers for processing added value without the prior consent of the TAIFEX.
    If deemed necessary, the TAIFEX may impose restriction on the number of channels, or the program content or items, of trading information broadcasts by a user applicant that is a radio/television enterprise.
Article 15     A user applicant shall report to the TAIFEX in any of the following circumstances within ten (10) days after the fact:
  1. Change of its representative, responsible person, contact person, business address, telephone and/or fax number;
  2. Change of the responsible person, address and/or contact telephone number of its equipment room; and
  3. Other matters as required by the TAIFEX.
Article 16     A user applicant shall prepare and submit to the TAIFEX a list of the equipment to be used and a list of the channels through which trading information will be broadcast. If there is any addition or change thereof, a report shall be submitted to the TAIFEX not later than the seventh (7th) day of each month.
    A user applicant which transmits trading information to overseas areas shall prepare and submit a report with respect to the use of information on a quarterly basis (calendar year), and provide more detailed information if so requested by the TAIFEX.
Article 17     The TAIFEX may dispatch its personnel or appointed CPAs to audit the finance and operation of the user applicant, and its accounting books and records, and inspect the premises where the user applicant's information equipment is located and its status of use, to which the user applicant shall not evade or refuse.
    User applicants shall submit two copies of CPA-certified annual financial statements of the previous year to the TAIFEX not later than June 30 of each year.
Article 18     A user applicant shall sign a written contract with each subscriber and place the original of such contract at its head office or the business place of its agent in Taiwan. The same shall apply when the user applicant makes use of the services of an agent or distributor.
    The user applicant shall submit a copy of the aforesaid contract to the TAIFEX for reference. The contract shall include the subscriber's name (or company name), national ID number (or business administration number (BAN)), telephone number, and place of installation, and shall specify that the subscriber shall comply with the provisions of these Rules as well as the penalty and the civil and criminal liabilities for making unlawful use or the unauthorized relay of the trading information.
    Upon the request of the TAIFEX to make a joint inspection of the place of its subscriber, the user applicant shall render cooperation without evasion or refusal.
Chapter 4 Management of Equipment Room
Article 19     Any user applicant which sets up an equipment room to transmit or broadcast trading information shall obtain the approval of TAIFEX for setup, relocation and removal in addition to compliance with relevant telecommunications laws and regulations.
Article 20     A user applicant which applies for setup of an equipment room for relaying trading information shall submit the following documentation for the permission of TAIFEX:
  1. A photocopy of the title deed, lease agreement or use agreement for the premises where the equipment room will be located;
  2. The original layout of the equipment room (including a floor plan and an elevation view drawing);
  3. The original of the roster of liaison personnel and technical personnel assigned to the equipment room; and
    When a user applicant sets up an equipment room through a telecommunications enterprise by means of co-hosting or leasing of space in its equipment room, it shall submit a report with photocopies of related documents to the TAIEX for recordation before it may use the room.
Article 21     A user applicant shall make available in each equipment room a list of equipment used therein or a list of the channels through which trading information is broadcast and shall mark the names of the subscribers and line numbers on the equipment and dissemination lines.
    Equipment used for dissemination or broadcasting in the user applicant's equipment room shall be conspicuously marked and segregated from the equipment used for other purposes for ease of inspection by the TAIFEX.
    If the user applicant is an overseas-area information company, news media institution, or qualified institutional investor, the provisions of the preceding 2 paragraphs shall apply to equipment rooms that it sets up or leases in the Republic of China.
Article 22     Personnel assigned to work in the equipment room by a user applicant shall cooperate with the inspector of the TAIFEX, and shall not dodge or refuse such inspection.
Chapter 5 Subscribers
Article 23     Local subscribers shall apply to user applicants for trading information of the TAIFEX by submitting an equipment list and the following documentation:
  1. If the subscription application is submitted in the name of a natural person, a photocopy of citizen's ID card, passport, alien resident certificate (ARC), or alien permanent resident certificate (APRC).
  2. If the subscription application is submitted in the name of a juristic person:
    1. A photocopy of the citizen's ID card, passport, ARC, or APRC of its responsible person.
    2. Documentation of juristic person status or documentation of business registration.
    3. If the subscription application is submitted in the name of a futures related enterprise, a photocopy of the certificate issued by the competent authority.
    4. If the application is submitted in the name of a radio/television enterprise, an application for permission shall first be filed with the TAIFEX pursuant to Article 8 hereof, and a photocopy of the operation permit issued by the authority having jurisdiction over the specific enterprise concerned shall also be submitted.
    The aforesaid equipment list shall indicate the name of the subscriber, type, quantity, and installation site of the equipment.
Article 23-1     A user applicant that provides service to a subscriber through an agent or distributor shall enter into a contract with the agent or distributor.
    One copy of the contract of the preceding paragraph shall be sent to the TAIFEX. The contract shall set out the following matters:
  1. The agent or distributor shall act on behalf of the user applicant to enter into a contract with the subscriber under Article 18, and obtain the subscriber's information as set out in Article 23; the signed contract and the subscriber's information shall be delivered to be kept in custody by the user applicant.
  2. The agent or distributor agrees to allow itself to undergo joint audits by the TAIFEX and the user applicant, or to provide explanations in relation to matters audited by the TAIFEX.
  3. The agent or distributor shall abide by the relevant provisions of these Rules.
Article 23-2     A user applicant shall first confirm the identity of a subscriber that obtains the trading information via the Internet, and enter into a written contract with the subscriber in accordance with Article 18.
    The contract of the preceding paragraph may be in the form of an electronic consent form. Its content shall be the same as the content of the written contract, and the user applicant must wait for the subscriber to completely fill out the electronic consent form and confirm the subscriber's identity before providing information.
    The user applicant shall retain the above subscriber identification documents or confirmation records, log-in account, and electronic consent form.
Article 24     A user applicant accepting a subscriber's connection application shall be responsible for verifying that the type, quantity, and installation site of the subscriber's equipment are consistent with those indicated in the submitted equipment list.
    A user applicant shall report the change of subscribership before the seventh (7th) day of each month, provided that the TAIFEX, when it deems necessary, may from time to time request the user applicant to provide such information.
Article 25     Electronic displays of all kinds installed by the same subscriber or at the same site of applied-for use shall not exceed a total of four (4) units. The preceding provision does not apply to futures commission merchants, futures introducing brokers, news media institutions, and other entities with TAIFEX consent or special permission of the competent authority.
Article 26     In case the trading information and equipment provided by the TAIFEX experience dissemination interruption or failure, user applicants or subscribers may not request the TAIFEX for compensation.
    Subscribers who are unable to access or use trading information as a result of the TAIFEX's termination of their user applicant's user dissemination agreement in accordance with the provisions of these Rules may not request the TAIFEX for compensation.
Article 27     No subscriber is allowed to lease, sell or transfer trading information to any other person, or relay it in any manner to another place.
    The TAIFEX may dispatch personnel to inspect the use of trading information by the subscriber, upon which, said subscriber shall be on scene and shall not dodge or refuse such an inspection.
Chapter 6 Fee Schedule
Article 28     User applicants shall pay fees in accordance with the fee schedule set forth by the TAIFEX for the use of trading information.
    The aforesaid fee schedule shall be prescribed by the TAIFEX, subject to the approval of the competent authority.
Chapter 7 Penalties
Article 29     Where a user applicant is in any of the following situations, the TAIFEX may mete out a penalty in the sum of NT$20,000 and notify it to make remedy or correction within a prescribed time period:
  1. In violation of the provisions of Article 15, 16, 21 or 25 of these Rules; or
  2. In violation of the provisions set forth in any circular of the competent authority or circular or public announcement of the TAIFEX.
Article 30     Where a user applicant is in any of the following situations, the TAIFEX may mete out a penalty in the sum of NT$50,000 and notify it to make remedy or correction within a prescribed time period:
  1. In violation of Article 6, Article 11, paragraph 1 or 2 of Article 18, Article 23-1, or Article 23-2 herein.
  2. In violation of the provisions set forth in any circular of the competent authority or circular or public announcement of the TAIFEX and the offense is of serious nature.
    A user applicant which violated Article 11, paragraph 2 herein may be exempt from the penalty, if the user applicant is able to prove that it had exercised due care and has taken necessary legal actions afterwards against the unauthorized use or theft of trading information.
Article 31     Where a user applicant violates Article 12, 14 or 17 herein, TAIFEX may mete out a penalty in the sum of NT$100,000 and notify it to make remedy or correction within a prescribed time period.
Article 32     Where a user applicant is in violation of paragraph 2 of Article 10, Article 13, paragraph 3 of Article 18, Article 19, or Article 22, or in gross violation of Article 12 herein, The TAIFEX may mete out a penalty in the sum of NT$200,000 and notify it to make remedy or correction within a prescribed time period.
Article 33     Where a user applicant is in any of the following situations, the TAIFEX may mete out a penalty in the sum of NT$500,000 or terminate the user agreement:
  1. In violation of paragraph 2 of Article 11 herein five times or more within one year.
  2. In gross violation of Article 13 herein.
  3. In violation of Article 29, 30, 31 or 32 herein and failing to make remedy or correction within the prescribed time period upon being notified by the TAIFEX.
  4. Failure to pay penalty within two months past the due date.
  5. In violation of futures related laws and regulations or TAIFEX rules where the offense has significant adverse impact on the futures market or the administration of trading information by the TAIFEX.
Article 34     A user applicant who fails to report or under-reports any user fees shall make up the difference, and the TAIFEX may impose a penalty of no more than four times the difference.
Article 35     Where a subscriber has violated these Rules or the offense has a significant adverse impact on the futures market or the administration of trading information by the TAIFEX, TAIFEX may notify said subscriber to make remedy or correction or notify the user applicant concerned to stop transmitting the trading information to said subscriber.
    A subscriber whose trading information has been discontinued may not apply for reactivation within one year.
Chapter 8 Licensed Distribution
Article 36     A licensed distributor shall first sign a contract with the TAIFEX before it may distribute the trading information of the TAIFEX.
    Only after the licensed distributor has confirmed that the licensed distribution user has signed a contract and subscribed to the trading information with the licensed distributer, may the licensed distribution user use the trading information of the TAIFEX in accordance with the purposes of the licensing.
    The licensed distribution user may apply to the TAIFEX for a direct connection, and sign a Trading Information Connection Contract.
Article 37     The content of the contract under paragraph 1 of the preceding article shall specify the type of licensing of the licensed distributor, representations with respect to intellectual property rights, the licensed scope of business, administration of reporting, administration of auditing, and distribution of operating revenue. The specific contents required to be specified are as follows:
  1. Relevant rights, such as whether the licensing is exclusive and whether it is transferrable.
  2. Representations that the intellectual property rights, copyrights, trademarks, ownership, and other relevant rights in the trading information all belong to the TAIFEX, and express provisions regarding the method of their use.
  3. The licensed scope of business includes the distribution region, segregation of duties in the business, and the content of the services.
  4. Administration of reporting includes reporting of licensed distribution users, use areas, number of licensed distribution subscribers, frequency of reporting, and distribution of revenue.
  5. Administration of auditing shall specify the following matters:
    1. With respect to audits by the TAIFEX of the licensed distributor, the content shall include the audit items, audit frequency, and method for resolving disputes.
    2. The right of TAIFEX to audit licensed distribution users and their licensed distribution subscribers shall be specified.
  6. The proportion in which revenue shall be distributed between the licensed distributor and the TAIFEX and the method of payment.
  7. Other matters required to be specified with regard to the rights and obligations of the parties.
Article 38     A licensed distributor shall stipulate the following matters with a licensed distribution user:
  1. Administration of the licensed distribution user and its licensed distribution subscribers.
  2. The right of the licensed distributor and the TAIFEX to audit and sanction the licensed distribution user and its licensed distribution subscribers.
  3. Other matters required to be specified with regard to the rights and obligations of the parties.
Article 39     Unless otherwise provided, the following provisions shall be applicable, mutatis mutandis, to licensed distribution: the provisions of Article 6 regarding applications for use; the provisions of Articles 10 to 12, Article 13, paragraph 1, Article 17, paragraph 1, and Article 18 regarding restrictions on use; the provisions of Chapter IV, and of Articles 23 to 23-2, Article 24, paragraph 1, and Articles 25 to 27 regarding subscribers; and the provisions of Article 35 regarding penalties.
    The provisions of Article 18, paragraphs 1 and 2, do not apply to a licensed distribution user using the trading information of the TAIFEX in an overseas area.
    The provisions of Article 23 to Article 24, paragraph 1, and Article 25 do not apply with respect to licensed distribution subscribers in an overseas area.
    If a licensed distribution user is in any of the circumstances in Article 33, subparagraph 1, 2, or 5, the TAIFEX may terminate the Trading Information Connection Contract.
Article 40     A licensed distribution user using the trading information of the TAIFEX must pay relevant fees in accordance with the fee schedule of the licensed distributor. The fee schedule of the licensed distributor must be negotiated with the TAIFEX before it is implemented.
Chapter 9 Supplementary Provisions
Article 41     These Rules, and any amendments hereto, shall be implemented following the approval of the competent authority and the public announcement of the TAIFEX.