Financial Market - Taiwan MA3N0203 PAO-HSIN HSU. Content TAIWAN FINANCIAL MARKET TAIWAN STOCK MARKET MARKET INFRASTRUCTURE The Taiwan Stock Exchange (TWSE)

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Financial Market - Taiwan MA3N0203 PAO-HSIN HSU

Content TAIWAN FINANCIAL MARKET TAIWAN STOCK MARKET MARKET INFRASTRUCTURE The Taiwan Stock Exchange (TWSE) The GreTai Securities Market (GTSM) The Taiwan Futures Exchange (TAIFEX) IPO IN TAIWAN The Characteristic Of TW Stock Market

Taiwan Financial Market Money Market Short-term Transactions Instruments Treasury Bills Banker's and Trade Acceptances Commercial Paper Negotiable Certificates of Deposit Inter bank call-loan Markets Repo Trade Market Capital Market Stock Market Bond Market Foreign Exchange Market Financial Derivative Market Forward Market Futures market Options Market Call warrant Market Swap Contracts Market

Taiwan stock market _ part 1 known as one of the most active exchanges in the Asia Pacific region with its fully automated trading system and book entry mechanism The end of 2011 the total market capitalization of the 790 companies listed on the Taiwan Stock Exchange (TWSE) amounted to US$634 billion the ratio of Taiwan market capitalization to GDP was 139.8% the total trading value in the same year being at US$ billion Turnover-rate of % and the Taiwan market P/E Ratio of 15.76

Taiwan stock market _ part 2 In the 1990s Under the supervision of the Financial Supervisory Commission (FSC), the Taiwan securities market initiated its modernization process Starting in 2000 With a view to building a more accommodating regulatory environment and carried out a series of legal reforms

Market Infrastructure The Taiwan Stock Exchange (TWSE ) the primary equities market in Taiwan The GreTai Securities Market (GTSM) the market for bonds and small to medium-sized enterprises (SMEs) The Taiwan Futures Exchange (TAIFEX) the principal derivatives market in Taiwan

TWSE Structure

IPO IN TAIWAN

The Characteristic of Taiwan Stock Market 1.High Turnover-rate 2.Funding focus on Electronics stocks 3.High proportion of Retail Investors trading 4.Serious Insider Trading 5.Limitation on transaction & Human intervention