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1     These Measures are adopted under Article 116 of the Operating Rules of the Taiwan Futures Exchange Corporation (TAIFEX).
2     When the TAIFEX trading system or trading information transmission system (hereinafter "trading system") experiences a malfunction or telecommunications disruption such that a futures contract is affected in one of the following manners, the TAIFEX will announce a halt of trading in that contract during the regular trading session or the after-hours trading session after having ascertained the nature of the malfunction or disruption:
  1. No futures commission merchant is able to input order information.
  2. No futures commission merchant is able to receive transaction confirmation reports.
  3. Trade matching cannot be accomplished or no market information can be disseminated.
  4. Any other circumstance resulting from the malfunction or telecommunications disruption of the trading system that affects trading in the contract.
3     Following the TAIFEX's announcement of a halt in trading of a futures contract, if it can successfully eliminate the cause of the trading halt by 25 minutes prior to closing of that trading session, the TAIFEX shall immediately announce resumption of trading for that futures contract; otherwise it shall announce suspension of trading for that contract.
     When the TAIFEX has announced a halt in trading under the preceding paragraph, the time referred to in the preceding paragraph shall be based on the earliest of the closing times among all the expiring contracts.
4     Measures following announcement by the TAIFEX of resumption of trading:
  1. When resumption of trading of any futures contract has been announced by the TAIFEX, trade matching shall first resume by means of call auction, followed by trade matching by continuous auction, and the trading shall close according to the trading hours as prescribed in the trading rules for that contract.
  2. During a period of time prior to the resumption of trading, the TAIFEX trading system will accept the entry, cancellation, and alteration of trading orders, but will not accept fill-or-kill orders, combination orders, and market with protection orders; no order can be cancelled or altered during the last 2 minutes prior to the resumption of trading. The "period of time" mentioned above shall be 15 minutes for the regular trading session, and 10 minutes for the after-hours trading session.
  3. After the malfunction is eliminated, if the data in the computer memory of the TAIFEX is fully intact, previous unexecuted trading orders shall remain valid in the current trading session, with the exception of fill-or-kill orders, combination orders, and market with protection orders, which shall be invalidated, and the order of priority shall remain unchanged. If data in the computer memory of the TAIFEX is lost in part or in whole, all previous unexecuted trading orders shall be invalid, provided that futures commission merchants shall first ascertain whether the previously entered trading orders have in fact not been executed or have been cancelled before they may re-enter such unexecuted trading orders.
  4. Upon resumption of trading, trading orders and the trade matching method shall be handled in accordance with the TAIFEX Operating Rules and other applicable regulations.
5     After the TAIFEX announces a halt of trading for all futures contracts, if trading for all futures contracts has not resumed by 25 minutes prior to closing of that trading session, the TAIFEX shall immediately announce closing of the market for that trading session.
6     Public announcements by the TAIFEX of halting of trading, resumption of trading, suspension of trading, or closing of the market shall be issued through the normal channels for dissemination of trade information or through media outlets. Upon announcement of a halt of trading, the execution price of the final transaction prior to the malfunction shall serve as the reference price upon resumption of trading for the current trading session. If there is no execution price, the opening reference price for the current trading session shall serve as the reference price upon resumption of trading.
7     These Measures, and any amendments thereto, shall come into force after approval and recordation by the competent authority.