TPEx Business Report 2020

Part 1 - Major Achievements

(1) Promoted new companies into TPEx multi-tiered market

  1. 21 new applicants for listing on the TPEx Mainboard, 40 new applicants for registration on the Emerging Stock Board, and a combined total of 56 companies applying for GISA registration or counseling service.
  2. Amongst above new entrants, 13 applicants for listing on TPEx, 18 applicants for registration on the Emerging Stock Board, and 31 applicants for registration on GISA belong to 5+2 innovative industries companies.
  3. Visited 67 domestic companies, held 8 promotional events for both domestic and foreign companies to list on the TPEx main board, and held or attended 41 seminars related to GISA to promote excellent companies to apply for listing on the TPEx main board and ESB.

(2) Promoted key measures laid out in the FSC's Corporate Governance Roadmap 2020 and made strides on enforcements to cope with ACGA CG Watch evaluation

  1. Promulgated the amended Directions for Compliance Requirements for the Appointment and Exercise of Powers of the Boards of Directors of TPEx Listed Companies.
  2. Promoted board of directors’ performance evaluations on TPEx main board companies.
  3. Prepared and released the TIP Taiwan TPEx CSR Index and the TIP Taiwan Market CSR Small/Mid-Cap Index.
  4. Cooperated with the research of related improvement measures for ACGA CG Watch evaluation.
  5. Conducted various measures related to the Corporate Governance Roadmap in cooperation with the competent authority.

(3) Developed a diversified range of financial products

  1. Completed the listing of 8 ETFs and 7 ETNs on the TPEx main board.
  2. 19 green bonds totaling NT$56.6 billion were issued by domestic or foreign banks, state-run enterprises, or domestic or foreign private enterprises.
  3. Completed the establishment of the central counterparty (CCP) mechanism for OTC derivatives trading.

(4) Developed the International Bond Market

  1. The issue amount of International Bonds listed on TPEx totaled an equivalent of NT$1,793 billion.
  2. One Islamic fixed income security (sukuk) issued, with an issue amount equivalent to of NT$24.1 billion.

(5) Introduced new trading mechanisms (including continuous trading and intra-day odd-lot trading)

  1. Held 24 sessions of "TPEx Investor Seminar" and 6 sessions of "TPEx Trading Systems Workshop" for securities dealers, and set up a continuing trading system section and odd-lot trading section on the TPEx website.
  2. Embarked on a series of media campaigns and promotional activities relating to the continuous trading and intra-day odd-lot trading systems.
  3. Promulgated three amended rules related to intra-day odd-lot trading at TPEx.
  4. Established and activated online and offline surveillance program monitoring intra-day odd-lot trading.
  5. Completed amendments of the information system for TPEx main board stock on schedule.

(6) Advanced the information system integration of securities and futures markets

  1. Completed updates on the operating system for uploading and downloading settlement data files.
  2. Completed updates on the software programming language for the DataFeeder of the TPEx main board.
  3. Completed updates on the operating system for the real-time file transfer system.
  4. Completed updates on the programming language for the computer trading systems of derivatives at securities firms.

(7) Draft rules governing the supervision of security token business of securities firms

  1. Promulgated the Guidelines for the Accounting of Security Token Offerings and the Guidelines for the Auditing of Security Token Offerings.
  2. Promulgated the Principles Regulations for the Evaluation Report issued by the Accountant on the Information System and Security Control Operations.
  3. Established the Operating Procedures for Administrating Department Review Meetings for Securities Firms Applying for Trading of Security Tokens and the Operating Procedures for Reviewing the Assessment Reports for the Information System and Security Control of Operations by Securities Firms of the Business of Proprietary Trading of Security Tokens, as well as their relevant checklists.
  4. Examined and amended the relevant rules on security token offerings in accordance with the policy of the competent authority.

Part 2 - Other Important Measures

  1. Enhance the quality of IPO cases and assist high-quality domestic and foreign enterprises to engage in TPEx market
  2. Advance the Go Incubation Board for Startup and Acceleration Firms (GISA) and related businesses
  3. Promote corporate governance and enhance market supervision mechanism to safeguard the interests of investors
  4. Enhance the trading and settlement mechanism for TPEx-listed stocks and emerging stocks, and promote diversification of financial products
  5. Strength market surveillance function and strictly crack down on illegal trading behavior.
  6. Promote bond market development
  7. Develop the OTC derivatives market
  8. Strengthen the auditing and supervision over securities firms and leverage transaction merchants
  9. Maintain and enhance the efficiency, security, and stability of TPEx’s computerized trading systems
  10. Promote international communication and cooperation and enhance innovation and R&D
  11. Ensure preparedness for material or abrupt events, strengthen risk control and ensure continuous operations