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TPEx Announces Phased Rollout of Emerging Stock Trading Rules; Sustainable Bond Issuance Nears NT$100 Billion
Finance · Investment Banks/Brokers · economic_daily · 2026-09-23
The Taipei Exchange is implementing new trading rules for emerging stocks to enhance market stability while aiming for sustainable bond issuance to hit NT$100 billion by late September.
What Happened
New Trading Regulations: The Taipei Exchange (TPEx) is introducing a phased update to its emerging stock trading rules, including a new circuit breaker mechanism and revised market-making obligations for securities firms. While initial price control measures for newly listed stocks began on September 21, the more comprehensive trading halts and market-making adjustments are scheduled for February 2027.
Market Stability Measures: A new "temporary suspension" mechanism will trigger a 30-minute halt if a stock's weighted average price fluctuates by 30% from the previous day, with a full-day suspension if volatility reaches 50%. This policy is designed to provide investors with a cooling-off period while allowing securities firms more flexibility in managing their inventory and quotes.
Sustainable Bond Growth: The market for sustainable development bonds has seen 31 issuances this year, totaling NT$92.48 billion across green, social, and sustainability-linked categories. TPEx aims to surpass the NT$100 billion milestone by the end of September, though rising interest rates following recent Fed policy shifts may impact the timing of future issuances.
Enhanced Data Transparency: TPEx has launched the "Taiwan Stock Dashboard" to provide standardized and accurate market data, specifically addressing discrepancies in the calculation of collateral maintenance ratios for margin trading. By centralizing this information, the exchange seeks to eliminate investor confusion and improve overall market transparency.