Page 49 - 臺灣證券交易所2024年報

3. Enhance Trading System (1) To incentivize market making, the TWSE continues to hold market making competitions. Referring to international practices, we review our screening criteria liquidity targets, as well as eligibility requirements for market makers and exchange incentive program participants. (2) In response to ETF issuance needs, the coding principles for securities ETFs have been revised from five digits to six digits, and is being implemented in three phases starting from November 18, 2024. 4. Optimize Management of Securities Firms (1) Optimize use of funds in customer ledgers under securities firms’ settlement accounts: A. To make better use of funds in customer ledgers under securities firms’ settlement accounts, the permitted uses of said funds have been expanded beyond their original limited purpose. Advance payments may be deposited or earmarked to customer ledgers so as to enhance convenience and efficiency. B. Customer ledgers may be used to handle payment and receipt of funds for ETF IPOs. This allows investors more flexibility in subscription payments and expands the use of funds in customer ledgers. C. The withheld funds for unsuccessful subscription or non-allotment, unsuccessful bids, or unqualified bids at auction may be refunded to customer ledgers under the securities firm’s settlement account on the day of auction or allotment, one day earlier than previously stipulated, thus maximizing customer fund utilization. D. Investors can use funds in their customer ledger to apply for rights issue. E. Electronic payment accounts were added as an option for account transfer for securities firms’ customers, which activates funds in customer ledgers and promotes digital financial services through cross-industry cooperation among securities firms and e-payment institutions. 2024 營業報告書 47