Standards Governing the Establishment of Futures Commission Merchants Article 19

A foreign futures commission merchant establishing a branch office in the territory of the Republic of China ("ROC") shall possess the following qualifications:1. Is qualified to be a clearing member of a foreign futures exchange that has been publicly announced by the FSC.2. The applicant possesses international futures business experience in the type of business for which approval is being requested, and is of sound financial standing.3. Within the last year, it has not been punished in its home jurisdiction by the relevant futures regulatory authority, or by a self-regulatory organization.