Regulations Governing Futures Commission Merchants Article 38
When a futures broker engages in foreign futures trading, it shall conduct trades on a foreign futures exchange in one of the following manners and shall place the orders one by one:1. An ROC futures commission merchant that is a member of the relevant foreign futures exchange and has obtained proof that a clearing member of the futures clearing house will handle its clearing and settlement may, on its own, execute trading orders on the said foreign futures exchange.2. An approved foreign futures commission merchant that is a clearing member of the relevant foreign futures exchange may, on its own, execute trading orders at the said foreign futures exchange.3. A futures commission merchant may have trades executed by an approved foreign futures commission merchant that has been publicly announced by the FSC as having obtained a clearing membership in the relevant foreign futures exchange.4. Such trades may also be conducted in any other manner approved by the FSC.The foreign futures commission merchant that executes trades as set forth in subparagraph 3 of the preceding paragraph may execute futures trading and handle clearance and settlement in foreign futures exchanges through the holding company by which it is controlled (where such holding company holds more than 50 percent of the merchant's shares), through a subsidiary in which the merchant holds more than 50 percent of the shares, or through another subsidiary of the same holding company by which the merchant is controlled (where such more than 50 percent of the shares in such other subsidiary are held by the merchant's holding company), provided that the said controlled company and subsidiaries are clearing members of the relevant foreign futures exchange.A futures commission merchant engaging in sub-brokered foreign futures trading services shall, when another futures commission merchant which executes trades in its behalf opens an account, enter into a brokerage or proprietary trading contract for its brokerage and proprietary trading respectively, and shall furthermore open separate margin accounts for each type of trading.
中文原文 期貨商管理規則第38條
期貨經紀商經營國外期貨交易業務時，應依下列方式之一於國外期貨交易所進行交易，並應逐筆委託：
一、本國期貨商具有國外期貨交易所會員資格並取得期貨結算機構之結算會員為其辦理結算交割之證明者，自行於國外期貨交易所進行交易。
二、經許可之外國期貨商具有國外期貨交易所結算會員資格者，自行於國外期貨交易所交易。
三、委託經許可並已取得本會公告之國外期貨交易所結算會員資格之期貨商辦理者。
四、其他經本會核准者。
前項第三款受委託之期貨商得由其所屬持股逾百分之五十之控股公司，或持股逾百分之五十之子公司，或屬同一控股公司持股逾百分之五十之子公司，且具有國外期貨交易所結算會員資格者，於國外期貨交易所執行期貨交易及結算交割。
期貨商經營國外期貨交易複委託業務者，於接受委託之期貨商辦理開戶時，應按其經紀或自營交易簽訂受託契約，並分別設置保證金專戶。
一、本國期貨商具有國外期貨交易所會員資格並取得期貨結算機構之結算會員為其辦理結算交割之證明者，自行於國外期貨交易所進行交易。
二、經許可之外國期貨商具有國外期貨交易所結算會員資格者，自行於國外期貨交易所交易。
三、委託經許可並已取得本會公告之國外期貨交易所結算會員資格之期貨商辦理者。
四、其他經本會核准者。
前項第三款受委託之期貨商得由其所屬持股逾百分之五十之控股公司，或持股逾百分之五十之子公司，或屬同一控股公司持股逾百分之五十之子公司，且具有國外期貨交易所結算會員資格者，於國外期貨交易所執行期貨交易及結算交割。
期貨商經營國外期貨交易複委託業務者，於接受委託之期貨商辦理開戶時，應按其經紀或自營交易簽訂受託契約，並分別設置保證金專戶。