Timeline

Year	Date	Event
1961	Oct 23	Taiwan’s first regulated exchange comes into existence and is named “The Taiwan Stock Exchange”.
1962	Feb 9	The Taiwan Stock Exchange officially opens for business.
1976	Sept 1	Clearing and settlement systems move to electronic systems.
1982	May 20	TWSE becomes founding member of the East Asian Oceanian Stock Exchanges Federation (EAOSEF), now known as the Asian and Oceanian Stock Exchanges Federation (AOSEF).
1988	Sept 29	All stock trading migrates to the semi-automated Computer-Assisted Trading System (CATS).
1989	Oct 23	TWSE becomes the 29th member of the Fédération Internationale des Bourses de Valeurs (FIBV), now known as the World Federation of Exchanges (WFE).
1993	Aug 2	TWSE listed stocks switch to the Fully Automated Securities Trading (FAST) system.
Aug 2	The real-time market surveillance system goes live and bolsters measures against illegal trading activity.
Oct 25	TWSE joins the International Organization of Securities Commissions (IOSCO) as an affiliate member.
1994	Jan 5	Day trading is permitted in margin accounts.
1995	Feb 4	A book-entry settlement system is adopted for all transactions.
1996	May 28	TWSE launches the Joint Responsibility System Clearing and Settlement Fund to ensure the safety of trading and settlement systems.
1997	Jun 5	TWSE becomes a formal member of the Association of National Numbering Agencies (ANNA).
Sept 4	TWSE launches its first call warrants.
Oct 17	Online trading is made available to investors to increase ease of order entry.
1998	Jan 8	ASE Test Ltd., a Singaporean company, issues TWSE’s first listed TDR.
Mar 19	TWSE becomes the second exchange in the world to earn the ISO 9001 certification for quality management systems.
2001	Jan 2	Trading hours are extended by an hour and a half (9:00-13:30).
2002	Jul 1	TWSE eliminates the “two-tick” up/down tick rule. TWSE adopts the intraday volatility interruption, a five-minute closing call auction, and post-matching order book disclosure of the standing best prices and volumes.
Oct 29	TWSE introduces its narrow-based index co-compiled with international index provider FTSE, the TWSE FTSE Taiwan 50 Index.
2003	Jun 30	The Taiwan 50 Index is licensed to a security investment trust company for the creation of Taiwan’s first exchange traded fund (ETF).
Jun 30	The Securities Borrowing and Lending System (SBL) is established to facilitate the borrowing/lending of securities among institutional investors.
Jul 9	Put warrants are listed for the first time on TWSE.
2004	Feb 26	TWSE becomes the first exchange in the world to earn the ISO27001/BS7799 certification for implementing information security management systems.
Jul 14	The first warrants issued over the Taiwan Top 50 ETF are launched.
2005	Mar 1	The price fluctuation limit is waived hereafter for IPO shares during the first five days of trading.
Mar 10	TWSE lists its first Real Estate Investment Trust (REIT).
2006	Apr 1	The second generation of the real-time market surveillance system goes live.
2008	Feb 24	The trading system’s remote backup center is enabled.
Apr 18	TWSE becomes a member of the Global Association of Central Counterparties (CCP12).
2009	Jan 5	TWSE rolls out the Warrant Liquidity Provider Program.
Feb 2	TWSE adopts the T+2 DVP settlement system to reduce risk and increase efficiency at settlement.
May 19	TWSE lists its first index warrant.
Aug 14	TWSE’s first two listed cross-border ETFs (Hang Seng H-share Index ETF and Hang Seng Index ETF) are introduced to the Taiwan market.
Aug 17	TWSE’s first Feeder ETF (linked to the CSI 300 ETF) is introduced onto the Taiwan market.
2010	Mar 30	TWSE promulgates the adoption of XBRL filing standards for listed companies starting with the 1HY10 financial reports
May 18	The US-based Integrated Memory Logic Limited (IML) becomes the first foreign company to list on TWSE.
Jun 28	Warrant trading migrates to a continuous trading system.
Sept 8	TWSE lists 29 warrants issued over foreign underlying stocks or indices.
Sept 27	TWSE’s FIX Protocol Platform goes online.
Dec 8	TWSE lists its first offshore ETF tracking China A-shares.
Dec 30	TWSE and index provider RA jointly launch the co-compiled TWSE RAFI Taiwan Employment Creation 99 Index.
2011	Feb 11	TWSE becomes the fourth exchange in the world to earn the ISO20000 IT Service Management certification.
Jul 8	TWSE lists first 55 callable bull/bear contracts (CBBCs).
Sept 26	The first QFII ETF investing directly into China A-shares is listed on TWSE.
2012	Feb 20	TWSE implements new market transparency measures and displays the virtual highest bid and lowest offer during the closing session (1:25 pm to 1:30 pm).
Oct 14	TWSE convenes the 52nd Annual Meeting of the World Federation of Exchanges (WFE).
2013	Jul 1	The call auction order matching interval is shortened to 15 sec, down from 20 sec.
Sept 9	A pilot program is launched permitting dealers to trade at the price bands within the daily fluctuation limit. The pilot program is made permanent on March 9, 2014.
Sept 23	The uptick rule waiver is expanded to all securities eligible for margin.
Oct 25	The Corporate Governance Center is established.
2014	Jan 6	The Buy-First-Sell-Later scheme is introduced as part of the first round of day trading measures. Eligible securities include constituents of the Taiwan 50, the Taiwan Mid-Cap 100, and the GreTai 50 Indexes.
Feb 24	The call auction order matching interval is shortened to 10 sec.
Mar 10	The next generation trading system goes live and has 3 times the original volume capacity and a latency of 5 ms, down from 50 ms.
May 5	TWSE and TPEx launch the co-compiled Formosa Index, an index offering broad-based exposure to the entire Taiwan market.
Jun 30	The second round of day trading measures, the Sell-First-Buy-Later scheme, is rolled out.
Jul 31	TWSE lists its first 10 extendable warrants.
Oct 31	TWSE lists its first set of leveraged and inverse ETFs.
Dec 29	The call auction order matching interval is shortened to 5 seconds.
2015	Apr 15	The TWSE lists its first gold futures ETF.
Jun 1	The daily price fluctuation limit is raised from 7% to 10%.
Jun 1	The scope of day trading is expanded. Before, only the constituent stocks of Taiwan 50 Index, Taiwan Mid-Cap 100 Index, and TPEx 50 Index are allowed for daying trading. Now extends to warrants underlying stocks and ETFs.
Jun 15	The Electronics Leveraged 2X Index and Electronics Inverse -1X Index are launched.
Jun 23	Securities brokers are allowed to confirm an applicant’s identification and intent in writing or electronic method prior to opening an account.
Jun 29	The TWSE will disclose certain information prior to market opening and closing. The simulated transaction prices, trading volume and five best bid/ask prices and volume will be disclosed prior to market opening and closing. In the last minute prior to market opening, the opening and matching for securities that fluctuate beyond a certain limit will be suspended.
Jun 29	Credit limits on margin trading and short sales for individual customers are eliminated and returned to the securities firms’ control.
Sept 10 Nov 6	The TWSE lists the TOPIX index-based leveraged and inverse ETFs on Sept 10 and TOPIX ETF on Nov 6.
Sept 14	The TAIEX Daily Return Leveraged 2X Index and TAIEX Daily Return Inverse -1X Index are published.
Sept 27	The TWSE lists its first oil futures ETF.
Dec 14	The TWSE lists the US-tracking S&P 500 ETF, S&P 500 Bull 2X ETF and S&P 500 Bear 1X ETF.
Dec 28	The Small-Cap 300 Sub-Index is published.
2016	Jan 4	The rule,「The Taiwan Stock Exchange Corporation Standards Governing the Places of Business and Facilities of Securities Firms and Securities Introducing Brokers」, is revised to principle-based and negative listing.
Feb 1	The scope of day trading is expanded. Eligible securities for margin trading are open to day trading.
Aug 8	The Dual-currency Trading Mechanism on ETFs is officially launched.
Oct 7	The TWSE and KRX cross-list ETFs.
Nov 30	The rule,「The Taiwan Stock Exchange Corporation Standards Governing Principal Identification and Management of Credit Line Categorization in the Processing by Securities Firms of Account Opening」, is enacted.
2017	Jan 1	The transaction tax levied on bond ETFs is suspended for 10 years (from January 1, 2017 to December 31, 2026).
Jan 9	Securities borrowing and lending (SBL) trading hours are extended from 3 pm to 3:30 pm.
Jan 16	Securities firms are entrusted to administer periodic investment on individual stocks and ETFs in the form of brokerage or wealth management.
Feb 23	The daily SBL short selling ceiling is relaxed from 20% to 30% of the average trading volume during the previous 30 business days of the underlying stock.
Apr 28	Legislators passed the third reading of policy that the securities transactions tax on day trading stocks has been cut from 0.3% to 0.15% for one year.
May 22	Investors can assign a custodial book-entry account through eDDA.
Jul 31	Specific institutional investors are no longer the only participants in the Security Lending System.
Aug 21	First two bond ETFs listed on TWSE: Fuh Hwa 1-5 Yr High Yield ETF and Fuh Hwa Emerging Market 10+ Yr Bond ETF.
Aug 24	Depending on the needs, securities firms could set up order-collecting centers in which investors could consign securities firms to make a deal through phone, mail, telegram, or other methods that the TWSE allows.
Dec 25	The TWSE set up co-location services between the centralized securities exchange market and over-the-counter exchange market.
2018	Mar 31	Companies with profit potential can also be officially listed under the multi-conditional listing program.
Apr 12	A person without an ID card is qualified to open an account if providing either Household Registration Transcript or Household Certificate.
Apr 27	Legislators passed the third reading of policy to extend the duration of securities transactions tax cut on day trading stocks until the end of 2021.
May 14	Integrated information system of borrowing and lending of securities is available.
May 16	Professional institutional investors whose monthly trading amount is above TWD 50 million are exempt from sampling and mail confirmation by securities firms.
May 28	New business for securities firms issues futures warrants. Seventeen futures warrants were listed on May 31 and June 1.
Jun 12	If investors hold, transact, confirm and deliver securities through the centralized securities depository corporation, securities firms are allowed to send monthly reconciliation statements through encrypted email.
Jun 25	English version of competitive auction system for securities is available.
Aug 29	The TWSE announced that listed companies that meet specific conditions will be required to submit an English version of their shareholders meeting manual, annual report, and annual financial reports beginning in 2019.
Nov 6	The TWSE announced the adoption of Inline XBRL filing for listed companies starting with the 2019 Q1 financial reports.
2019	Jan 1	The TWSE forgoes Saturday trading and settlement, even with the presence of work.
Mar 25	The continuous trading simulation platform was officially launched.
Mar 28	The TWSE wins “the Best ETF Stock Exchange” at Asia Asset Management’s 2019 Best of the Best Awards.
Apr 30	The TWSE listed its first batch of ETNs (Exchange Trading Notes).
Jun 18	The TWSE released its first Corporate Social Responsibility (CSR) Report.
2020	Mar 23	The intraday continuous trading was implemented.
Apr 1	A listed company exit mechanism was implemented.
Jun 15	The TWSE released 2019 Corporate Social Responsibility (CSR) Report.
Oct 26	The intraday odd-lot trading was implemented.
Dec 15	The TWSE obtained the certification of ISO 22301 Business Continuity Management System.
2021	Mar 15	The TWSE partook in the “Ring the Bell for Gender Equality 2021” with over 100 exchanges worldwide.
Apr 1	A paperless environment for FINI/FIDI registration and cancellation was established.
Jun 28	Intraday volatility interruption for regular trading and intraday odd-lot trading was extended from 13:20 to 13:25.
Jun 30	The market making mechanism for TWSE-listed stocks was implemented.
Jun 30	The ETF split and reverse split mechanism launched.
Jul 20	The Taiwan Innovation Board was officially launched.
2022	May 31	An ESG information reporting and disclosure function for Market Observation Post System (“MOPS”), a public companies’ information platform, was implemented.
Aug 11	A market making system to encourage securities companies to serve as market makers on the TIB was put in place.
Dec 05	The 1st covered call ETN was listed.
Dec 19	The matching interval for intraday odd lot trades was shortened to one minute.
2023	Mar 20	To enhance the quality of information disclosure before market opening, new supporting measures were launched.

Year

Date

Event

1961

Oct 23

Taiwan’s first regulated exchange comes into existence and is named “The Taiwan Stock Exchange”.

1962

Feb 9

The Taiwan Stock Exchange officially opens for business.

1976

Sept 1

Clearing and settlement systems move to electronic systems.

1982

May 20

TWSE becomes founding member of the East Asian Oceanian Stock Exchanges Federation (EAOSEF), now known as the Asian and Oceanian Stock Exchanges Federation (AOSEF).

1988

Sept 29

All stock trading migrates to the semi-automated Computer-Assisted Trading System (CATS).

1989

Oct 23

TWSE becomes the 29th member of the Fédération Internationale des Bourses de Valeurs (FIBV), now known as the World Federation of Exchanges (WFE).

1993

Aug 2

TWSE listed stocks switch to the Fully Automated Securities Trading (FAST) system.

Aug 2

The real-time market surveillance system goes live and bolsters measures against illegal trading activity.

Oct 25

TWSE joins the International Organization of Securities Commissions (IOSCO) as an affiliate member.

1994

Jan 5

Day trading is permitted in margin accounts.

1995

Feb 4

A book-entry settlement system is adopted for all transactions.

1996

May 28

TWSE launches the Joint Responsibility System Clearing and Settlement Fund to ensure the safety of trading and settlement systems.

1997

Jun 5

TWSE becomes a formal member of the Association of National Numbering Agencies (ANNA).

Sept 4

TWSE launches its first call warrants.

Oct 17

Online trading is made available to investors to increase ease of order entry.

1998

Jan 8

ASE Test Ltd., a Singaporean company, issues TWSE’s first listed TDR.

Mar 19

TWSE becomes the second exchange in the world to earn the ISO 9001 certification for quality management systems.

2001

Jan 2

Trading hours are extended by an hour and a half (9:00-13:30).

2002

Jul 1

TWSE eliminates the “two-tick” up/down tick rule. TWSE adopts the intraday volatility interruption, a five-minute closing call auction, and post-matching order book disclosure of the standing best prices and volumes.

Oct 29

TWSE introduces its narrow-based index co-compiled with international index provider FTSE, the TWSE FTSE Taiwan 50 Index.

2003

Jun 30

The Taiwan 50 Index is licensed to a security investment trust company for the creation of Taiwan’s first exchange traded fund (ETF).

Jun 30

The Securities Borrowing and Lending System (SBL) is established to facilitate the borrowing/lending of securities among institutional investors.

Jul 9

Put warrants are listed for the first time on TWSE.

2004

Feb 26

TWSE becomes the first exchange in the world to earn the ISO27001/BS7799 certification for implementing information security management systems.

Jul 14

The first warrants issued over the Taiwan Top 50 ETF are launched.

2005

Mar 1

The price fluctuation limit is waived hereafter for IPO shares during the first five days of trading.

Mar 10

TWSE lists its first Real Estate Investment Trust (REIT).

2006

Apr 1

The second generation of the real-time market surveillance system goes live.

2008

Feb 24

The trading system’s remote backup center is enabled.

Apr 18

TWSE becomes a member of the Global Association of Central Counterparties (CCP12).

2009

Jan 5

TWSE rolls out the Warrant Liquidity Provider Program.

Feb 2

TWSE adopts the T+2 DVP settlement system to reduce risk and increase efficiency at settlement.

May 19

TWSE lists its first index warrant.

Aug 14

TWSE’s first two listed cross-border ETFs (Hang Seng H-share Index ETF and Hang Seng Index ETF) are introduced to the Taiwan market.

Aug 17

TWSE’s first Feeder ETF (linked to the CSI 300 ETF) is introduced onto the Taiwan market.

2010

Mar 30

TWSE promulgates the adoption of XBRL filing standards for listed companies starting with the 1HY10 financial reports

May 18

The US-based Integrated Memory Logic Limited (IML) becomes the first foreign company to list on TWSE.

Jun 28

Warrant trading migrates to a continuous trading system.

Sept 8

TWSE lists 29 warrants issued over foreign underlying stocks or indices.

Sept 27

TWSE’s FIX Protocol Platform goes online.

Dec 8

TWSE lists its first offshore ETF tracking China A-shares.

Dec 30

TWSE and index provider RA jointly launch the co-compiled TWSE RAFI Taiwan Employment Creation 99 Index.

2011

Feb 11

TWSE becomes the fourth exchange in the world to earn the ISO20000 IT Service Management certification.

Jul 8

TWSE lists first 55 callable bull/bear contracts (CBBCs).

Sept 26

The first QFII ETF investing directly into China A-shares is listed on TWSE.

2012

Feb 20

TWSE implements new market transparency measures and displays the virtual highest bid and lowest offer during the closing session (1:25 pm to 1:30 pm).

Oct 14

TWSE convenes the 52nd Annual Meeting of the World Federation of Exchanges (WFE).

2013

Jul 1

The call auction order matching interval is shortened to 15 sec, down from 20 sec.

Sept 9

A pilot program is launched permitting dealers to trade at the price bands within the daily fluctuation limit. The pilot program is made permanent on March 9, 2014.

Sept 23

The uptick rule waiver is expanded to all securities eligible for margin.

Oct 25

The Corporate Governance Center is established.

2014

Jan 6

The Buy-First-Sell-Later scheme is introduced as part of the first round of day trading measures. Eligible securities include constituents of the Taiwan 50, the Taiwan Mid-Cap 100, and the GreTai 50 Indexes.

Feb 24

The call auction order matching interval is shortened to 10 sec.

Mar 10

The next generation trading system goes live and has 3 times the original volume capacity and a latency of 5 ms, down from 50 ms.

May 5

TWSE and TPEx launch the co-compiled Formosa Index, an index offering broad-based exposure to the entire Taiwan market.

Jun 30

The second round of day trading measures, the Sell-First-Buy-Later scheme, is rolled out.

Jul 31

TWSE lists its first 10 extendable warrants.

Oct 31

TWSE lists its first set of leveraged and inverse ETFs.

Dec 29

The call auction order matching interval is shortened to 5 seconds.

2015

Apr 15

The TWSE lists its first gold futures ETF.

Jun 1

The daily price fluctuation limit is raised from 7% to 10%.

Jun 1

The scope of day trading is expanded. Before, only the constituent stocks of Taiwan 50 Index, Taiwan Mid-Cap 100 Index, and TPEx 50 Index are allowed for daying trading. Now extends to warrants underlying stocks and ETFs.

Jun 15

The Electronics Leveraged 2X Index and Electronics Inverse -1X Index are launched.

Jun 23

Securities brokers are allowed to confirm an applicant’s identification and intent in writing or electronic method prior to opening an account.

Jun 29

The TWSE will disclose certain information prior to market opening and closing. The simulated transaction prices, trading volume and five best bid/ask prices and volume will be disclosed prior to market opening and closing. In the last minute prior to market opening, the opening and matching for securities that fluctuate beyond a certain limit will be suspended.

Jun 29

Credit limits on margin trading and short sales for individual customers are eliminated and returned to the securities firms’ control.

Sept 10
Nov 6

The TWSE lists the TOPIX index-based leveraged and inverse ETFs on Sept 10 and TOPIX ETF on Nov 6.

Sept 14

The TAIEX Daily Return Leveraged 2X Index and TAIEX Daily Return Inverse -1X Index are published.

Sept 27

The TWSE lists its first oil futures ETF.

Dec 14

The TWSE lists the US-tracking S&P 500 ETF, S&P 500 Bull 2X ETF and S&P 500 Bear 1X ETF.

Dec 28

The Small-Cap 300 Sub-Index is published.

2016

Jan 4

The rule,「The Taiwan Stock Exchange Corporation Standards Governing the Places of Business and Facilities of Securities Firms and Securities Introducing Brokers」, is revised to principle-based and negative listing.

Feb 1

The scope of day trading is expanded. Eligible securities for margin trading are open to day trading.

Aug 8

The Dual-currency Trading Mechanism on ETFs is officially launched.

Oct 7

The TWSE and KRX cross-list ETFs.

Nov 30

The rule,「The Taiwan Stock Exchange Corporation Standards Governing Principal Identification and Management of Credit Line Categorization in the Processing by Securities Firms of Account Opening」, is enacted.

2017

Jan 1

The transaction tax levied on bond ETFs is suspended for 10 years (from January 1, 2017 to December 31, 2026).

Jan 9

Securities borrowing and lending (SBL) trading hours are extended from 3 pm to 3:30 pm.

Jan 16

Securities firms are entrusted to administer periodic investment on individual stocks and ETFs in the form of brokerage or wealth management.

Feb 23

The daily SBL short selling ceiling is relaxed from 20% to 30% of the average trading volume during the previous 30 business days of the underlying stock.

Apr 28

Legislators passed the third reading of policy that the securities transactions tax on day trading stocks has been cut from 0.3% to 0.15% for one year.

May 22

Investors can assign a custodial book-entry account through eDDA.

Jul 31

Specific institutional investors are no longer the only participants in the Security Lending System.

Aug 21

First two bond ETFs listed on TWSE: Fuh Hwa 1-5 Yr High Yield ETF and Fuh Hwa Emerging Market 10+ Yr Bond ETF.

Aug 24

Depending on the needs, securities firms could set up order-collecting centers in which investors could consign securities firms to make a deal through phone, mail, telegram, or other methods that the TWSE allows.

Dec 25

The TWSE set up co-location services between the centralized securities exchange market and over-the-counter exchange market.

2018

Mar 31

Companies with profit potential can also be officially listed under the multi-conditional listing program.

Apr 12

A person without an ID card is qualified to open an account if providing either Household Registration Transcript or Household Certificate.

Apr 27

Legislators passed the third reading of policy to extend the duration of securities transactions tax cut on day trading stocks until the end of 2021.

May 14

Integrated information system of borrowing and lending of securities is available.

May 16

Professional institutional investors whose monthly trading amount is above TWD 50 million are exempt from sampling and mail confirmation by securities firms.

May 28

New business for securities firms issues futures warrants. Seventeen futures warrants were listed on May 31 and June 1.

Jun 12

If investors hold, transact, confirm and deliver securities through the centralized securities depository corporation, securities firms are allowed to send monthly reconciliation statements through encrypted email.

Jun 25

English version of competitive auction system for securities is available.

Aug 29

The TWSE announced that listed companies that meet specific conditions will be required to submit an English version of their shareholders meeting manual, annual report, and annual financial reports beginning in 2019.

Nov 6

The TWSE announced the adoption of Inline XBRL filing for listed companies starting with the 2019 Q1 financial reports.

2019

Jan 1

The TWSE forgoes Saturday trading and settlement, even with the presence of work.

Mar 25

The continuous trading simulation platform was officially launched.

Mar 28

The TWSE wins “the Best ETF Stock Exchange” at Asia Asset Management’s 2019 Best of the Best Awards.

Apr 30

The TWSE listed its first batch of ETNs (Exchange Trading Notes).

Jun 18

The TWSE released its first Corporate Social Responsibility (CSR) Report.

2020

Mar 23

The intraday continuous trading was implemented.

Apr 1

A listed company exit mechanism was implemented.

Jun 15

The TWSE released 2019 Corporate Social Responsibility (CSR) Report.

Oct 26

The intraday odd-lot trading was implemented.

Dec 15

The TWSE obtained the certification of ISO 22301 Business Continuity Management System.

2021

Mar 15

The TWSE partook in the “Ring the Bell for Gender Equality 2021” with over 100 exchanges worldwide.

Apr 1

A paperless environment for FINI/FIDI registration and cancellation was established.

Jun 28

Intraday volatility interruption for regular trading and intraday odd-lot trading was extended from 13:20 to 13:25.

Jun 30

The market making mechanism for TWSE-listed stocks was implemented.

Jun 30

The ETF split and reverse split mechanism launched.

Jul 20

The Taiwan Innovation Board was officially launched.

2022

May 31

An ESG information reporting and disclosure function for Market Observation Post System (“MOPS”), a public companies’ information platform, was implemented.

Aug 11

A market making system to encourage securities companies to serve as market makers on the TIB was put in place.

Dec 05

The 1st covered call ETN was listed.

Dec 19

The matching interval for intraday odd lot trades was shortened to one minute.

2023

Mar 20

To enhance the quality of information disclosure before market opening, new supporting measures were launched.