during any calendar year, calculated from the average of the total net asset value at the end of the last business day of each month; (b) in the case where a mutual fund management licensee invests in or
this Notification: (1) “ fund ” means an infrastructure fund; (2) “ management company ” means a securities company holding a license to manage mutual funds; (3) “ infrastructure asset ” means: (a) the
; (2) in calculating the net asset value and the value of investment unit, together with the selling price and the redemption price of open-end mutual funds and the number of units of provident funds
capital ” means liquid assets deducted by total liabilities ; “ liquid asset ” mean the total sum of the following assets: (1) cash and bank deposit; (2) securities purchased under reverse repurchase
client’s asset, which is independent from the securities trading unit or securities advisory unit, and must organize a good internal control system for the custody of client’s assets. Such system must at
purchased to order; (f) receivables of margin loan and receivables of securities borrowing; (g) receivables of pledging account; (h) any other asset as stipulated by the Notification of the SEC Office. (4
) receivables of securities purchased to order; (6) margin loan receivables and securties borrowing receivables; (7) collateral receivables; (8) any other asset as stipulted by the SEC Office. “ general
derivatives broker. “Derivative exchange” means any derivative exchange licensed by the Securities and Exchange Commission. “Initial margin” means the minimum amount of asset a customer must deposit to secure
obligations thereunder. Unless a party is able to offset its position before the settlement date, the seller of futures is obliged to make and the buyer is obliged to take delivery of the underlying asset of
: Custody of Clients’ Assets by Securities Companies dated 16 May 2008 shall be repealed. Clause 3 In this Notification: (1) “ asset ” means: (a) cash; (b) securities; (c) other assets ; (d) any benefits