DEFINITION of 'Taiwan Stock Exchange (TAI) .TW'

The Taiwan Stock Exchange (TWSE) is the securities trading center in Taiwan. Based in Taipei, it was established in 1961 and began operations in February 1962. Its listed securities include stocks, government bonds, convertible bonds, exchange-traded funds (ETFs), call warrants, put warrants, Taiwan Depositary Receipts (TDRs) and REIT beneficiary securities.

BREAKING DOWN 'Taiwan Stock Exchange (TAI) .TW'

The TWSE provides a range of services that include the listing of securities, corporate governance, trading of securities, clearing and settlement, information services and safety, market surveillance, monitoring of securities firms, and a rules and regulations directory. Its stated goals include driving Taiwan’s economic growth by developing new financial products, improving Taiwan's capital markets and strengthening the nation's international competitiveness.

The TWSE’s trading schedule runs from Monday through Friday, from 9 a.m. - 1:30 p.m. The exchange trades shares in New Taiwan Dollar (TWD).

Listing on the TWSE

Domestic public companies or foreign issuers looking to list on the TWSE must meet specific financial and operational criteria. Once met, they submit an IPO application which is reviewed by an internal committee and then sent to the Securities Listing Review Committee. If the application is approved, it then moves on to be ratified by the TWSE Board of Directors, which enables the TWSE and the applicant to enter into an official listing contract. It is then filed and recorded with the Financial Supervisory Commission (FSC). Once listed, the company must adhere to listing requirements which include listing fee payments and the filing of financial reports.

Notable Dates in TWSE’s History:

October 23, 1961: TWSE is established.

February 9, 1962: TWSE officially opens.

September 1, 1976: TWSE’s clearing and settlement systems move to electronic systems.

May 20, 1982: TWSE becomes a founding member of the East Asian Oceanian Stock Exchanges Federation (EAOSEF), now the Asian and Oceanian Stock Exchanges Federation (AOSEF).

October 25, 1993: TWSE joins the International Organization of Securities Commissions (IOSCO) as an affiliate member.

March 19, 1998: TWSE becomes the second exchange in the world to earn the ISO 9001 certification for quality management systems.

February 26, 2004: TWSE becomes the first exchange in the world to earn the ISO27001/BS7799 certification for implementing information security management systems.

April 18, 2008: TWSE becomes a member of the Global Association of Central Counterparties (CCP12).

February 24, 2011: TWSE becomes the fourth exchange in the world to earn the ISO20000 IT Service Management certification.

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