臺灣證券交易所

Innovative trading mechanisms

The TWSE continually develops trading mechanisms that meet investors' needs in a digital financial environment; otherwise, the market is too rigid and it impacts the economy. Therefore, the TWSE is actively advancing diversified trading methods to serve investors, and plans to work together with stock market participants under the guidance of the regulatory authority in a time of change and innovation, so as to jointly realize the vision of "circulating securities and prospering the economy."

To attract foreign capital, improve trade efficiency, enhance information transparency, provide more diverse order types, and to consolidate the strategic use of derivative products such as warrants and options, the FSC and TWSE launched intraday continuous trading in March 2020, an important milestone for Taiwan's securities market. Since its implementation, trading value on the centralized market has set record highs without impacting investor trading.

To make it convenient for the public to participate in Taiwan's stock market and to satisfy the need for intraday odd lot trading, this was launched by the TWSE in October 2020; the existing after-hours odd lot trading system remains unchanged. By lowering the barrier to entry for investors, the TWSE objective is to attract young investors and investors with limited capital so as to nurture a key demographic of investors in Taiwan's centralized securities market.

To satisfy investors' needs to make smaller investments, the TWSE began allowing securities firms to offer fixed-term, fixed-amount investment plans for customers to purchase single stocks and ETFs in 2017. The TWSE's goal is to help investors make long-term investments in the stock market and avoid the risk of buying high and selling low, and also to expand the business scope of securities firms to stimulate the stock market.