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Introduction

Overview
Introduction
Physical Gold Withdrawal
Q&A
Regulations
Education

Gold product is an ideal medium for preserving value in the case of inflation. In order to diversify investment for investors, Taipei Exchange launched “Gold Trading Platform” based on Emerging Stock Market trading mechanism starting from 5^th Jan., 2015. Market makers quote and trade through this platform. Investors are able to utilize their existing security trading account to trade gold, helping investors to diversify their asset allocation.

Market Activity of Gold

The price of per Taiwan Cian is the average bid quotes of market makers.

1.Registration Requirement

Banks may apply for registering their gold to trade on Gold Trading Platform. Banks are required to act as the market maker of their own gold products and are delegated to be custodian by Taiwan Depository & Clearing Corporation (TDCC).

銀行申請黃金現貨登錄買賣流程

2.Trading Mechanism

“Gold Trading Platform” is a quote-driven market. The Investor engages a securities broker to place a trading order on his/her behalf. Market makers should offer quote prices in trading hours (from 9:00 to 15:00) An order will be executed by “Computerized Price Negotiation and Click System” as soon as it reaches the quotes. Market makers may directly execute those unmatched orders. One of the trading counterparties is the market maker. Trading unit is 1 Taiwan Tael (37.5 grams) gold with a purity of 99.99%. Quoting unit is1 Taiwan Cian (3.75 grams)
Once a transaction is completed on “Gold Trading Platform”, TPEx will notify TDCC of trading details. TDCC will then carry out the subsequent payment and settlement operations. Buyers and sellers complete settlements with TDCC on T+2 day. If both sides agree, settlements will be completed on the trade day.

到價委託單分配成交

For details, please refer to the overview.

1. Physical Gold Product

Offered by Bank of Taiwan:

Offered by First Commercial Bank:

2. Physical Gold Withdrawal Requirement

Investors may apply for withdrawing their gold booked on their passbooks with brokers and take physical gold from gold custodian banks. However, the physical gold withdrawn from the Gold Trading Platform is not allowed to put back. Withdrawal unit is 1 Taiwan Tael.

3. Withdrawal Fee

The withdrawal Fee is charged by the custodian bank when the physical gold is withdrawn. Foe details of withdrawal requirement, please refer to the links below.

For details of contents, please refer to the overview and introduction.

Q1：How to use a security trading account?

A1: After signing the “Gold Risk Disclosure Statement”, investors are able to utilize their existing security trading accounts to trade gold. The trading records are listed on TDCC(Taiwan Depository & Clearing Corporation) passbooks.

Q2：What is the main difference between using a security trading account and using a Bank Gold

Passbook(New Taiwan dollar denominated) to trading gold?

A2：

The same:
1. Gold are all with a purity of 99.99%.
2. The physical gold is allowed to withdraw and is not allowed to put back.
The main difference:
1. Trading unit of Gold Trading Platform is 1 Taiwan Tael (37.5 grams) and quoting unit is 1 Taiwan Cian (3.75 grams). Both trading and quoting unit of Gold Passbook of bank are 1 gram.
2. Settlement period of Gold Trading Platform is T+2 (market regular) or T (RTGS; specially on bilateral agreement). Settlement day of Bank Gold Passbook is trading day.

For details of contents, please refer to the overview and introduction.

1. The Competent Authority:

(1) December 17, 2014, allow securities firms to conduct gold trading business link
(2) December 17, 2014, allow Taiwan Depository & Clearing Corporation (TDCC) to conduct gold clearing, settlement and bookkeeping business link

2. December 28, 2018, pre-announcement of proposed amendment of trading mechanism of Gold in 2020 link

3. August 15, 2016, amendment of trading mechanism of Gold

(1) Pre-announcement link
(2) Enforcement link

4. February 15, 2016, amendment of clearing and settlement mechanism of Gold link

5. December 17, 2014, announcement of Taipei Exchange Rules Governing the Registration and Trading of Gold link