TPEx Business Report 2019

Part 1 – Major Achievements

(1) Promote new companies to join TPEx multi-tiered market

  1. In 2019, there were 53 applications for registration on the Emerging Stock Board (ESB) and 20 applications for listing on TPEx Mainboard.
  2. Promoting the entry of companies in key industries into TPEx GISA, ESB and Mainboard - In 2019, there were 28 applications for registration on GISA, 19 applications for registration on ESB and 7 applications for listing on TPEx Mainboard.
  3. In 2019, there were 8 new applications from foreign companies for listing on TPEx Mainboard or registration on ESB or counseling service. We also made trips to China, Thailand and other countries to visit in total 31 local enterprises and held 6 seminars.
  4. Encouraging startups to apply for GISA registration or counseling service - In 2019, there were a combined total of 55 companies applying for GISA registration or counseling service. We also hosted or participated in altogether 51 GISA-related seminars.

(2) Integrate the information operation systems of securities and futures markets

  1. Complete the upgrade of file transfer system server.
  2. Switch the programming language of offline monitoring system to the standard-compliant C#.
  3. Upgrade the programming language of real-time file transfer system to the standard-compliant C.

(3) Enhance a diversification of financial products

  1. In 2019, 58 bond ETFs and 6 ETNs were newly listed on TPEx.
  2. 14 green bonds totaling NT$50.21 billion were issued by domestic or foreign banks, state-owned enterprises, or domestic or foreign private enterprises.
  3. 7 green bonds totaling NT$16.6 billion were issued by foreign institutions.

(4) Promote listed companies to implement scheduled material measures laid out in government's corporate governance roadmap for 2019

  1. Requiring listed companies to hold or take part in investor conference at least once every 3 years.
  2. Requiring companies that are required to publish CSR report to compile the report in accordance with GRI Standards.
  3. Regulating the rules that the majority of remuneration committee members shall be independent directors.
  4. Hold 5 sessions of “2019 Corporate Governance Evaluation Workshop” in 2019.
  5. In 2019, all listed companies have purchased the required liability insurance for their directors and supervisors.
  6. Continue to promote the measures laid out in government's corporate governance roadmap.

(5) Promote the continuous trading mechanism

  1. Complete the addition and testing of systems or programs relating to the continuous trading mechanism.
  2. Hold 4 sessions of market testing of the trading information transmission system.
  3. Hold 20 sessions of “TPEx Investor Seminar” and 6 sessions of “TPEx Trading Mechanism Workshop”, and set up a continuing trading mechanism section on TPEx website. 12 sessions of seed instructor training camp in collaboration with Taiwan Stock Exchange were held.
  4. Conduct a series of media campaign and promotional activities relating to the continuous trading mechanism.

(6) Develope the International Bond Market

  1. The aggregate issuance of International Bonds listed on TPEx reached an equivalent of NT$786.8 billion.
  2. The regulations governing the “offering of Sukuk by foreign issuers in Taiwan” were promulgated and implemented on June 14, 2019.
  3. In 2019, 21 Total Loss-Absorbing Capacity (TLAC) totaling NT$76.802 billion were listed.
  4. Introduce a fair price information disclosure mechanism for fixed-rate, non-callable USD-denominated International Bond.

(7) Draft the regulatory framework and rules for initial coin offering (ICO)

  1. Collect information on the business model and supervisory rules adopted abroad relating to security token offering (STO) platform.
  2. Complete an analysis of regulatory issues involved in the opening of ICO and supporting measures and made recommendations to the competent authority.
  3. The STO regulatory framework and rules were promulgated on January 20, 2020.

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