Important Notice


This webpage provides relevant information on foreign currency denominated foreign bonds that are not listed on TPEx which may not be suitable for all investors to use as reference in making an investment decision. A non-professional investor may invest in bonds with repurchase or reverse repurchase agreement (RP/RS). For RP/RS transactions that non-professional investors may engage in, the bond must have a credit rating above a certain level and may not be a structured bond, an equity-linked note or a subordinated bond and must offer a fixed rate (which may be zero interest) or a positive floating rate. The counterparties of outright trades are limited to professional investors defined under Article 3 of the Regulations Governing Offshore Structured Products. “Professional investor” is defined as follows:


I. Professional investors:

(I) Professional institutional investor includes domestic and foreign banks, insurance companies, bills finance companies, securities firms, fund management companies, government investment institutions, government funds, pension funds, mutual funds, unit trusts, securities investment trust enterprises, securities investment consulting enterprises, trust enterprises, futures commission merchants, futures service enterprises, and other institutions approved by the Financial Supervisory Commission.

(II) A juristic person meeting all of the following criteria and having applied in writing to a trust enterprise, securities firm or insurance enterprise (referred to as the "trustees or sub-distributors" hereunder) for the status of a high net worth corporate investor:

  1. A juristic person with net worth exceeding NT$20 billion according to its latest CPA-audited or reviewed financial report; notwithstanding the foregoing, the financial reports of juristic persons outside of the Republic of China need not be CPA-audited or reviewed.
  2. The person has a dedicated investment unit, staffed by capable professionals and the unit’s manager meets one of the following conditions:
    (1) The manager has worked in financial product investment at a financial, securities, futures or insurance institution for more than three years.
    (2) The manager has financial product investment experience of more than four years.
    (3) The manager possesses other qualifications or experience that show he/she has professional knowledge and management experience in financial product investment and can soundly and effectively manage the business of an investment department.
  3. The person holds securities position or derivatives product portfolio exceeding NT$1 billion according to its latest CPA-audited or reviewed financial report; notwithstanding the foregoing, the financial reports of juristic persons outside of the Republic of China need not be CPA-audited or reviewed.
  4. The person’s internal control system has suitable investment procedure and risk management measures.

(III) A juristic person or fund meeting all of the following criteria and having applied in writing to the trustee or sub-distributor for the status of a professional investor:

  1. A juristic person or fund with total assets exceeding NT$50 million according to its latest CPA-audited or reviewed financial report; notwithstanding the foregoing, the financial reports of juristic persons outside of the Republic of China need not be CPA-audited or reviewed;
  2. The trader authorized by the investor has sufficient professional knowledge and trading experience in financial products; and
  3. The person understands fully that a trustee or sub-distributor may be exempted from liabilities towards professional investors in conducting trust investment and agrees to sign on as a professional investor.

(IV) A natural person meeting all of the following criteria and having applied in writing to the trustee or sub-distributor for the status of professional investor:

  1. The person has proof of financial capacity of at least NT$30 million; or has made a foreign currency denominated investment equivalent to over NT$3 million in value, and in addition, his/her total assets at the trustee or sub-distributor, including deposits and investments (including the aforesaid investment), worth more than NT$15 million, and the person has provided a statement undertaking that his or her total assets exceed NT$30 million;
  2. The person has sufficient professional knowledge and trading experience in financial products; and
  3. The person understands fully that a trustee or sub-distributor is exempted from certain responsibilities towards professional investors in conducting trust investment and agrees to sign on as a professional investor.

(V) A trust enterprise that has entered into a trust agreement with the trustor and the trustor meets the conditions set forth in Subparagraph 2, 3 or the preceding subparagraph hereof.

II. Except for professional institutional investors, foreign bonds that may be traded by a professional investor must meet the requirements under in Article 6 of the Regulations Governing Securities Firms Accepting Orders to Trade Foreign Securities (having a credit rating of BB or above).

Link to regulations:

Article 6 of the Regulations Governing Securities Firms Accepting Orders to Trade Foreign Securities

III. Disclaimer

  • The information contained in this webpage should not be used or considered as an offer to sell or a solicitation or a suggestion to the visitors. Visitors are advised to evaluate or seek the advice of professionals prior to making any investment, financial decision or purchase any product.
  • Information contained in this webpage is for general reference only. All basic issuance data of bonds are provided originally entered by the securities firms. TPEx does not provide any guarantee of the registration data and may change the information at any time without prior notice.
  • This webpage does not guarantee that information contained herein is free of any error, omission, or inaccuracy, and TPEx will not be held liable for any loss or cost incurred by investors resulting from use or inability to use this webpage by the investor, or in connection with any interruption or defect in operation or incomplete transmission, or system failure.
  • TPEx owns the copyright of information and materials contained in this webpage. No part of the information or materials may be modified, reproduced, transmitted or distributed for commercial or public use without the prior written consent of TPEx.
  • Visitors should heed that bond issuance data disclosed in this webpage are not updated instantly. TPEx does not guarantee the accuracy and reliability of such data, and expressly disclaims any legal liability for any loss arising from any inaccuracy or incompleteness of such data.

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