The Taiwan Stock Exchange Corporation (TWSE; ) is a financial institution, headquartered at Taipei 101, in Taipei, Taiwan. The TWSE was established in 1961 and began operating as a stock exchange on 9 February 1962. It is regulated by the Financial Supervisory Commission.
TWSE-listed securities currently include stocks, as well as exchange-traded funds (ETFs), exchange-traded notes (ETNs), warrants, Taiwan Depositary Receipts (TDRs), and other securities. The Taiwan Capitalization Weighted Stock Index (TAIEX) is the stock market index that measures the aggregate performance of listed stocks on TWSE; it is regarded as one of the key indicators of Taiwan's economic performance.
The TWSE is responsible for securities listing reviews, trading mechanisms, clearing and settlement, regulation of securities firms, corporate governance and sustainable development initiatives, market surveillance, and investor services. It also provides corporate disclosures and integrated market information through the Market Observation Post System (MOPS) and the Investment InfoHub.
As of 31 December 20125, the TAIEX closed at 28,963.6 points, while the total market capitalization of listed shares reached NT$ 94.36 trillion. Total annual trading value amounted to NT$101 trillion, with an average daily trading value of NT$416 billion.
As of 2026, Taiwan's stock market had become the world's fifth-largest by market capitalization, with a total market value of US$4.95 trillion, surpassing markets including the United Kingdom, Canada, and India.
History and development
1961–1980
Establishment
On 23 October 1961, an inaugural promoters' meeting was held in accordance with the law, at which the company's articles of incorporation were approved and directors and supervisors were elected. Later that month, the first joint meeting of the board of directors and supervisors was held, during which the company's senior management, including its president and vice president, was selected, marking the formal establishment of the TWSE. The exchange officially commenced operations on 9 February 1962.
1981–2000
Transition to computerized trading
Beginning in the 1980s, the TWSE began computerizing its trading and market management operations. In 1988, all stock trading migrates to the semi-automated Computer-Assisted Trading System (CATS). In 1993, trading in all listed shares was transferred to a Fully Automated Securities Trading (FAST) system, and an real-time market surveillance system was introduced.
International participation
In 1982, the TWSE became one of the founding members of the East Asian Oceanian Stock Exchanges Federation (EAOSEF), which was later renamed the Asian and Oceanian Stock Exchanges Federation (AOSEF). In 1989, it joined the Fédération Internationale des Bourses de Valeurs (FIBV), the predecessor of the World Federation of Exchanges (WFE).
2001–2020
Market reforms
In January 2001, regular trading hours were extended to 9:00 a.m.–1:30 p.m. on weekdays.2000年9月18日：【電週文化事業】行政院：明年一月起台股交易時間延長1.5小時，下午一時半收盤；魏鑫陽。 In 2009, the TWSE adopted the T+2 DVP settlement system and introduced the Financial Information eXchange (FIX) protocol.2010年5月5日：【凌羣科技股份有限公司】金融資訊交換 (Financial Information eXchange) 協定研究；沈士楷。 In 2015, the daily price fluctuation limit is widened from 7% to 10%.
In March 2020, the TWSE implemented the intraday continuous trading. New order types are also introduced, including market orders, Rest of Day (ROD), Immediate or Cancel (IOC), and Fill or Kill (FOK) orders, providing investors with additional order options.
Corporate governance initiatives
In 2013, the TWSE established its Corporate Governance Center as a platform for promoting corporate governance and information disclosure among listed companies. The first Corporate Governance Evaluation was conducted in 2014; the program was subsequently renamed the ESG Evaluation. In 2016, the TWSE introduced the Corporation Standards Governing Principal.
Index compilation and cooperation
In addition to compiling the TAIEX, the TWSE and the Taipei Exchange launched the co-compiled Formosa Index in May 2014 as a measure of the overall performance of Taiwan's securities market. In January 2016, the Taiwan Index Plus Corporation was established.2016年1月30日：【中華民國金融監督管理委員會】臺灣指數股份有限公司開業，本會主任委員蒞會致詞。 Beginning in December of the same year, the TWSE cooperated with FTSE Russell to compile the FTSE TWSE Taiwan Index Series, including the FTSE TWSE Taiwan 50 Index, Taiwan Mid-Cap 100 Index, Taiwan Technology Index, Taiwan Dividend+ Index, and other indices.《證交所》富時：臺灣指數更名為「富時臺灣證券交易所臺灣指數」
Information infrastructure
Given the high demand for IT system stability in securities trading and related services, the TWSE signed a memorandum of understanding with Chunghwa Telecom in February 2008 for the construction of a new data center. The First Data Center was completed and opened in January 2016.
2021–present
Establishment of the Taiwan Innovation Board
In July 2021, the TWSE launched the Taiwan Innovation Board (TIB), focusing on the listing of companies with key technologies, innovative capabilities, or innovative business models. In 2025, the TIB canceled the restrictions on qualified investors, and TIB stocks became eligible for intraday trading.
Diversification of market mechanisms and products
In 2024, the matching interval for intraday odd-lot trading was shortened from one minute to five seconds, and settlement-driven securities borrowing and lending was extended to odd lot securities. Taiwan's first actively managed exchange-traded fund was listed in 2025.
In January 2026, the Taiwan Index Plus Corporation launched the Taiwan Pristine Stock Index, which selects Taiwan listed common stocks based on profitability, dividends, and trading characteristics, serving as a benchmark to track high quality but overlooked stocks.
Sustainable development
In the area of sustainable development, an ESG information disclosure platform within the MOPS was launched in 2022, to centralize disclosures by listed and OTC companies on greenhouse gas inventories, emissions reduction targets, sustainability reports, and other ESG-related information.
In May 2023, in response to Taiwan's national climate change policies, the TWSE and the National Development Fund Management Committee jointly established the Taiwan Carbon Solution Exchange. The exchange was officially launched on 7 August 2023.
Trading system
The exchange broadcasts before-hour information from 7:40 to 8:40. Then it has normal trading sessions from 09:00 to 13:45 and fixed price post-market sessions from 14:00 to 15:00 on all days of the week except Saturdays, Sundays and holidays declared by the exchange in advance.Market Hours, Taiwan Stock Exchange via Wikinvest
See also Taiwan Capitalization Weighted Stock Index List of companies in Taiwan List of Asian stock exchanges List of stock exchanges CCP Global
References
External links