Regulations Governing the Issuance of Exchange Traded Notes by Securities Firms Article 5
A securities firm issuing ETNs shall allocate on a monthly basis a performance bond that accounts for a certain percentage of the total outstanding balance of the ETNs.The total amount of ETNs issued by the securities firm may not exceed 50 percent of its net worth as shown on its most recent CPA audited and attested financial report. However, the same does not apply to a reopening of ETNs for which the securities firm has allocated a supplementary amount of performance bond.The securities firm shall allocate a supplementary amount of performance bond if during the term of the ETNs its net worth fails to meet the requirement of paragraph 1, subparagraph 2 of the preceding article or its regulatory capital adequacy ratio fails to meet the requirement of paragraph 1, subparagraph 3 of the preceding article.The performance bonds referred to in the preceding 3 paragraphs shall be deposited with the TPEx. The rules governing the allocation ratio, deposit, custody, payment, and refund of such performance bonds, and any amendments thereto, shall be drafted by the TPEx in conjunction with the TWSE and submitted to the competent authority for ratification.
中文原文 證券商發行指數投資證券處理準則第5條
證券商發行指數投資證券，應按月依其流通餘額提撥一定比例之履約保證金。
證券商發行指數投資證券總額，不得超過最近期經會計師查核簽證之財務報告淨值之百分之五十。
但證券商為辦理增額發行，且已增提履約保證金者，不在此限。
證券商於指數投資證券存續期間，如淨值未達前條第一項第二款規定，或自有資本適足比率未達前條第一項第三款規定，應增提履約保證金。
前三項履約保證金應向櫃檯買賣中心繳存，其提撥比例、繳存、保管、給付及退還之管理辦法由櫃檯買賣中心會同證券交易所擬訂，報請主管機關核定；修正時亦同。
證券商發行指數投資證券總額，不得超過最近期經會計師查核簽證之財務報告淨值之百分之五十。
但證券商為辦理增額發行，且已增提履約保證金者，不在此限。
證券商於指數投資證券存續期間，如淨值未達前條第一項第二款規定，或自有資本適足比率未達前條第一項第三款規定，應增提履約保證金。
前三項履約保證金應向櫃檯買賣中心繳存，其提撥比例、繳存、保管、給付及退還之管理辦法由櫃檯買賣中心會同證券交易所擬訂，報請主管機關核定；修正時亦同。