TAIWAN FUTURES EXCHANGE-Clearing-OTC Derivatives Clearing-Clearing Member-Clearing Member Application

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Clearing

Exchange Traded Derivatives Clearing

OTC Derivatives Clearing

Qualifying Central Counterparty (QCCP) Disclosure

Quantitative Disclosure

關閉

Clearing

Exchange Traded Derivatives Clearing

OTC Derivatives Clearing

Qualifying Central Counterparty (QCCP) Disclosure

Quantitative Disclosure

Clearing Member Application

Those who intend to apply for TAIFEX OTC clearing membership shall prepare the documents and submit the application to TAIFEX. After the application documents have been approved by TAIFEX, the applicant will be notified in writing and asked to sign the clearing agreement with TAIFEX.

Taiwan Futures Exchange OTC Derivatives Clearing Member Manual

Documents required for an application to become a clearing member

Application documents	An application for clearing membership. Document evidencing company registration. Documents evidencing permission by the Competent Authority to engage in derivatives trading or handle derivatives operations.
Business documents	Business plan specifying: principles of business operation; risk management measures for head and branch offices; internal organization and internal division of labor within the organization. The company's internal control system. A list of directors. board of board meeting minutes, or a letter of consent signed by an officer authorized by the head office in the case of the branch of a foreign bank in Taiwan. A list of supervisors in charge of clearing operations of OTC derivatives and specialists conducting clearing operations.
Financial documents	The financial report audited and attested by CPAs for the latest fiscal year or the most recent period. Disclosure document for the latest capital adequacy or equivalent documentation.
Legal documents	Declaration of non-violation of any disqualification. Declaration stating completeness of tests conducted with TAIFEX's OTC clearing system and the TAIFEX-approved trade confirmation platform.
Documents required for Specific qualifications	Commitment letter. Guarantee letter. The financial report audited and attested by CPAs for the latest fiscal year or the most recent period of Financial Institution who submits the commitment letter. Disclosure document for the latest capital adequacy or equivalent documentation of Financial Institution who submits the commitment letter.
Other Requirements	Other documents as required by TAIFEX