Regulations Governing the Trading of Financial Derivatives by Bills Finance Companies Article 3
Bills finance companies may engage in the following financial derivative transactions:1. Entering a trading contract as a customer or as a dealer where the value of the contract is derived from interest rate;2. Entering a trading contract for hedging purpose as a customer or as a dealer where the value of the contract is derived from a credit event;3. Entering a trading contract as a customer where the value of the contract is derived from stock price or stock index. However, the foreign trading contracts where the value of the contract is derived from domestic stock price or stock index are limited to the futures trading contracts traded on the foreign futures exchange upon the FSC’s approval of cooperative agreement between Taiwan Futures Exchange Corporation and such foreign futures exchange.4. Engaging in an asset swap transaction involving convertible or exchangeable corporate bonds as a customer or as a dealer;5. Entering a trading contract as a customer where the value of the contract is derived from exchange rate; and6. Engaging in other financial derivatives as a customer with approval of the Competent Authority.The financial derivatives transactions mentioned in Subparagraph 2 and Subparagraph 4 of the preceding paragraph shall be denominated in New Taiwan dollar (NTD) and limited to the domestic subjects, except that entering a trading contract for hedging purpose as a customer.The expression “for hedging purpose” in the preceding two paragraphs means for the purpose of transferring the risks associated with an on- or off-balance sheet asset or with a committed transaction.If the corporate bond mentioned in Subparagraph 4 of Paragraph 1 hereof is converted or exchanged into stocks, the conversion or exchange shall comply with the provisions in Paragraph 3 of Article 2, Paragraph 2 of Article 6, and Paragraph 2 of Article 8 of the Regulations Governing the Investment in Bonds and Equity Products by Bills Finance Companies.In case of foreign-currency bonds, the conversion or exchange shall in addition comply with Paragraph 2, Article 3 of the Regulations Governing the Brokerage Trading, Proprietary Trading, and Investment of Foreign-Currency Bonds by Bills Finance Companies.Where the financial derivative transaction conducted by a bills finance company involves the exchange settlement of NTD, the exchange settlement shall be carried out in accordance with Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions promulgated by the Central Bank of the ROC.
中文原文 票券金融公司從事衍生性金融商品交易管理辦法第3條
票券金融公司得從事下列衍生性金融商品交易：
一、以客戶或營業人身分從事價值由利率所衍生之交易契約。
二、以客戶或營業人身分從事價值由信用事件所衍生之交易契約，且以避險目的為限。
三、以客戶身分從事價值由股價或股價指數所衍生之交易契約。
但價值由國內股價或股價指數所衍生之國外交易契約，以經本會核准臺灣期貨交易所股份有限公司與國外期貨交易所簽署合作協議，於該國外期貨交易所上市之期貨交易契約為限。
四、以客戶或營業人身分從事轉換或交換公司債之資產交換交易。
五、以客戶身分從事價值由匯率所衍生之交易契約。
六、經主管機關核准以客戶身分從事之其他衍生性金融商品。
前項第二款及第四款衍生性金融商品交易應以新臺幣計價，且限連結國內標的。
但以客戶身分且基於避險目的者，不在此限。
前二項所稱避險目的，指為移轉已持有表內、表外資產或已承諾交易之風險。
第一項第四款公司債如轉換或交換為股票，應符合票券金融公司投資債券及股權商品管理辦法第二條第三項、第六條第二項及第八條第二項規定。
如為外幣債券並應符合票券金融公司辦理外幣債券經紀自營及投資管理辦法第三條第二項規定。
票券金融公司從事衍生性金融商品交易，如涉及新臺幣結匯事宜，應依中央銀行外匯收支或交易申報辦法之規定辦理。
一、以客戶或營業人身分從事價值由利率所衍生之交易契約。
二、以客戶或營業人身分從事價值由信用事件所衍生之交易契約，且以避險目的為限。
三、以客戶身分從事價值由股價或股價指數所衍生之交易契約。
但價值由國內股價或股價指數所衍生之國外交易契約，以經本會核准臺灣期貨交易所股份有限公司與國外期貨交易所簽署合作協議，於該國外期貨交易所上市之期貨交易契約為限。
四、以客戶或營業人身分從事轉換或交換公司債之資產交換交易。
五、以客戶身分從事價值由匯率所衍生之交易契約。
六、經主管機關核准以客戶身分從事之其他衍生性金融商品。
前項第二款及第四款衍生性金融商品交易應以新臺幣計價，且限連結國內標的。
但以客戶身分且基於避險目的者，不在此限。
前二項所稱避險目的，指為移轉已持有表內、表外資產或已承諾交易之風險。
第一項第四款公司債如轉換或交換為股票，應符合票券金融公司投資債券及股權商品管理辦法第二條第三項、第六條第二項及第八條第二項規定。
如為外幣債券並應符合票券金融公司辦理外幣債券經紀自營及投資管理辦法第三條第二項規定。
票券金融公司從事衍生性金融商品交易，如涉及新臺幣結匯事宜，應依中央銀行外匯收支或交易申報辦法之規定辦理。