Reported by 4 Brokerages, Linked to 10月22日 Trading
Taiwan Stock Exchange on 28日 disclosed settlement default information. PCB flexible board maker Flexium (6269) saw a large settlement default, with a declared amount of about 3308萬元. Reporting brokers were SinoPac Securities Tainan Branch, Yuanta Securities Taoxing Branch, E.Sun Securities Chengzhong Branch, and SinoPac Securities, 4 outlets in total. This is the 14th large single-stock settlement default in the listed market this year; including 13 cases in the OTC market, the whole market total has reached 27.
According to the TWSE announcement, on 28日 total buy and sell settlement defaults in the listed market reached 1.7億元, with a net amount after offsetting buys and sells of 1237.78萬元. Under Taiwan's T+2 settlement system, investors must complete settlement by the 2nd business day after the trade date; this announced case corresponds to stock trading on 10月22日. That day the Weighted Index opened high and moved lower, closing down 846.34點, while Flexium shares also came under pressure, falling 7.9元, down 9.12%, to close at 78.7元.
14th This Year, 27 Total
Large settlement defaults meeting the disclosure threshold in the listed market this year include Macronix (2337), JPC (6197), Shin Zu Shing (3376), Unimicron (3037), Compeq (2313), Yageo* (2327), AUO (2409), Holy Stone (3026), Nanya Technology (2408), ITEQ (6213), Chroma (2360) and Flexium, including Yageo* with 3 occurrences. Before Flexium, the prior case was Chroma announced on 10月12日, declared by Union Securities Sanchong Branch in the amount of 5859.5萬元, the 13th case in the listed market this year.
By size, the largest disclosed case this year was ITEQ (6213) declared on 9月21日 at 3億1930萬元; second was JPC (6197) declared on 6月9日 at 1億4950萬元. Ranked 3rd to 5th were Compeq (2313) declared on 6月26日 at 8574萬元, AUO (2409) declared on 7月2日 at 7325萬元, and Macronix (2337) declared on 3月5日 at 5902萬元. This Flexium case at 3308萬元 ranks 11th largest this year and 3rd in the past two months.
Definition and Reminder
A settlement default means an investor fails to meet settlement obligations within the required deadline after a trade, for example insufficient funds in the settlement account for a buy order without timely top-up. Under the current system, investors must in principle have settlement funds ready by 10時 on the 2nd business day after the trade date; if a default occurs, the broker may file a default report and handle follow-up, and the defaulter may face penalties, debt claims, and impact on credit records. A large settlement default does not necessarily indicate day-trading losses or a broken funding chain; the actual cause depends on each case. Investors should watch settlement deadlines and account funds to avoid defaults caused by mistimed funding.