When a securities enterprise intends to act as a participating dealer for an offshore exchange traded fund (hereinafter referred to as “ETF”) to process (on a brokerage basis) or engage in (on a proprietary basis) purchase or redemption of an offshore ETF in Taiwan (hereinafter referred to as “offshore ETF participating dealer business), the securities enterprise shall apply to the Bank for approval or report to the Bank for record by submitting the following documents before commencing the business:
1.When acting as a participating dealer of an offshore ETF for the first time, the securities enterprise shall apply to the Bank for approval by submitting documents provided in Article 7 herein, and in addition, documents evidencing approval from or completing effective registration with the FSC for the ETF and a business plan (including business profile, operating process, receipt/payment procedure, and hedging arrangements).
2.When the securities enterprise subsequently intends to act as a participating dealer for another offshore ETF, it only needs to report to the Bank for record before commencement by submitting documents evidencing approval from or completing effective registration with the FSC for that ETF.

When a securities enterprise engages in Offshore ETF Participating Dealer Business, receipt/payment between the participating dealer and investors shall always be made in the denominated currency of that offshore ETF as listed on the centralized securities exchange market.