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Trading System Comparison: TPEx vs. TWSE
2. Comparison of the TPEx and the TWSE
| Item | TWSE-Listed Stocks | TPEx-Listed Stocks |
|---|---|---|
| Administrative Organization | Taiwan Stock Exchange | Taipei Exchange |
| Trading Method | Automated Trade Matching | ●Automated Trade Matching ●Price Negotiation at Brokerages |
| Book-Entry Transfer | Mandatory | ●Automated Trade Matching: Mandatory ●Price Negotiation at Brokerages: At Discretion |
| Joint Responsibility System Clearing and Settlement Fund | Established | Established |
| Daily Price Limit | 10% | 10% |
| Matching Rules | ●Opening and Closing Session: Call Auction; Intraday Session: Continuous Trading | ●Opening and Closing Session: Call Auction; Intraday Session: Continuous Trading ●Negotiation (at Brokerages) |
| Best 5 bid/ask Prices and Volumes | Yes | Yes |
| Margin Trading | Yes | Yes |
| Day Offsetting | Yes | Yes |
| Margin Ratios | 60% | 60% |
| Short Selling Deposits | 90% | 90% |
| Settlement Cycle | T+2 | T+2 |
| Market Surveillance | Established | Established |
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Tel: +886-2-23699555, Emerging Stock Trading Hotline: +886-2-2366-6102, Investor Hotline: +886-2-23666100
Tel: +886-2-23699555, Emerging Stock Trading Hotline: +886-2-2366-6102, Investor Hotline: +886-2-23666100
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