Also known as: 特選臺灣智慧50指數 · IX0167 Index (Bloomberg) · IX0167 (TIP code)
Tracked by: 00912 (ETF)
At a glance
- Weighting schemeFactor tilted
- Review frequencyQuarterly
- Single cap20
- Buffer40 / 60
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 11 fields | |||
| Strategy partner | CTBC Investments | 結合中國信託投信(CTBC Investments)專研多因子量化投資策略於股權資產的成功經驗Open p.1 ↗ |
The methodology incorporates CTBC Investments' multi-factor quantitative equity investment research. |
| Index name | Taiwan Index Company Selected Taiwan Listed and Emerging Smart 50 Index | 臺灣指數公司特選臺灣上市上櫃智慧50 指數 (簡稱「特選臺灣智慧50 指數」)Open p.1 ↗ |
The document names the index as Taiwan Index Company Selected Taiwan Listed and Emerging Smart 50 Index. |
| Index short name | 特選臺灣智慧50 指數 | 臺灣指數公司特選臺灣上市上櫃智慧50 指數 (簡稱「特選臺灣智慧50 指數」)Open p.1 ↗ |
The vendor abbreviates the index as Selected Taiwan Smart 50 Index. |
| Local index name | 臺灣指數公司特選臺灣上市上櫃智慧50 指數 | 臺灣指數公司特選臺灣上市上櫃智慧50 指數 (簡稱「特選臺灣智慧50 指數」)Open p.1 ↗ |
The official local-language index name is Taiwan Index Company Selected Taiwan Listed and Emerging Smart 50 Index. |
| Administrator | Taiwan Index Company | 臺灣指數公司特選臺灣上市上櫃智慧50 指數Open p.1 ↗ |
Taiwan Index Company is the index provider identified by the index name and document. |
| Index family | Taiwan Index Company selected smart index series | 臺灣指數公司特選臺灣上市上櫃智慧50 指數Open p.1 ↗ |
The index belongs to Taiwan Index Company's Selected Taiwan Smart index series as indicated by its name. |
| Objective | 結合中國信託投信(CTBC Investments)專研多因子量化投資策略於股權資產的成功經驗；利用市值篩選權值股，以自由流通市值結合投資因子指標，配置成分股權重，兼具臺灣市場代表性與投資因子特質，期運用投資因子對自由流通市值權重進行加減碼，提升臺灣市場權值股組合的長期績效表現。 | 結合中國信託投信(CTBC Investments)專研多因子量化投資策略於股權資產的成功經驗；利用市值篩選權值股，以自由流通市值結合投資因子指標，配置成分股權重，兼具臺灣市場代表性與投資因子特質，期運用投資因子對自由流通市值權重進行加減碼，提升臺灣市場權值股組合的長期績效表現。Open p.1 ↗ |
The index combines multi-factor quantitative strategy with free-float market capitalisation to select large Taiwanese stocks and tilt their weights to improve long-term portfolio performance. |
| Market classification | Domestic | 臺灣證券交易所上市與中華民國證券櫃檯買賣中心上櫃普通股股票Open p.1 ↗ |
The index covers the Taiwan domestic listed and emerging stock market. |
| Size segment | Large | 依股票發行市值由大到小排序，選取前50 名股票。Open p.2 ↗ |
The methodology screens for heavyweight stocks and selects the 50 largest by issued-share market capitalisation. |
| Index family type | Multi factor | 以自由流通市值結合投資因子指標，配置成分股權重，兼具臺灣市場代表性與投資因子特質Open p.1 ↗ |
The index uses investment-factor indicators together with free-float market capitalisation in a multi-factor strategy. |
| Factor exposures | Multi factor | 結合中國信託投信(CTBC Investments)專研多因子量化投資策略於股權資產的成功經驗Open p.1 ↗ |
The document describes a multi-factor quantitative investment strategy but does not name the individual factors. |
| M2 Universe · 7 fields | |||
| Eligible universe | Eligible universe | 指數母體：臺灣證券交易所上市與中華民國證券櫃檯買賣中心上櫃普通股股票Open p.1 ↗ |
The sampling universe is common stocks listed on the Taiwan Stock Exchange and Taipei Exchange, excluding specified restricted categories. |
| Sampling scope | The index universe | 採樣範圍：指數母體。Open p.1 ↗ |
The sampling scope is the index universe defined in the methodology. |
| Suspension exception | New shares issued because of capital reduction, conversion into a holding or newly established company, or par-value change may remain in the universe even if trading is suspended. | 但因減資或轉換為控股公司、新設公司或變更面額等原因換發新股票而停止買賣者仍可列入母體。Open p.1 ↗ |
Securities whose trading is suspended solely due to exchanging old shares for new shares in specified corporate events may still be included in the universe. |
| Markets | Taiwan | 臺灣證券交易所上市與中華民國證券櫃檯買賣中心上櫃普通股股票Open p.1 ↗ |
The eligible universe covers securities listed on Taiwan's main exchange and Taipei exchange market. |
| Exchanges | Taiwan Stock Exchange, Taipei Exchange | 臺灣證券交易所上市與中華民國證券櫃檯買賣中心上櫃普通股股票Open p.1 ↗ |
The universe consists of common stocks listed on the Taiwan Stock Exchange or traded on the Taipei Exchange over-the-counter market. |
| Security types | Common | 普通股股票Open p.1 ↗ |
The index universe is limited to common stocks. |
| Exclusions | managed stocks, emerging-market stocks, stocks publicly announced as under altered trading methods, stocks publicly announced as suspended from trading | 非屬管理股票、興櫃股票及經公告為變更交易方法或停止買賣股票者；但因減資或轉換為控股公司、新設公司或變更面額等原因換發新股票而停止買賣者仍可列入母體。Open p.1 ↗ |
Managed stocks, emerging stocks, and stocks publicly placed under altered trading methods or trading suspension are excluded, subject to an exception for share exchanges tied to capital reduction or corporate conversions. |
| M3 Eligibility screens · 6 fields | |||
| Target constituent count | 50 securities | 依股票發行市值由大到小排序，選取前50 名股票。Open p.2 ↗ |
The index selects the 50 highest-ranked stocks by issued-share market capitalisation. |
| Liquidity alternative for new listings | Window: latest 3 months; Threshold: free-float turnover reaches 3% in every month; Applicability: stocks initially listed or traded on the emerging market for less than one year | 如初次上市、上櫃股票未滿1 年者，最近3 個月自由流通週轉率均達3%亦可。Open p.2 ↗ |
Newly listed securities under one year old may pass liquidity if their monthly free-float turnover is at least 3% in each of the latest three months. |
| Trading history | Minimum value: 12 months; Exceptions: Stocks newly listed on the exchange or emerging market for less than one year may use the most recent three-month free-float turnover test | 如初次上市、上櫃股票未滿1 年者，最近3 個月自由流通週轉率均達3%亦可。Open p.2 ↗ |
The standard liquidity test uses 12 months, while stocks listed for less than one year may qualify through a three-month alternative test. |
| Liquidity screen | Metric: Liquidity ratio; Window: 12 months, or 3 months for newly listed stocks under one year; Threshold: Passes if either ranked in the top 20% by total trading value over the latest 12 months, or free-float turnover reaches 3% in at least 8 of the latest 12 months; new listings may pass if free-float turnover reaches 3% in each of the latest 3 months | 流動性檢驗：滿足以下任一條件視為通過流動性篩選a. 最近12 個月成交金額總額前20%。 b. 最近12 個月中，至少有8 個月自由流通週轉率達3%；如初次上市、上櫃股票未滿1 年者，最近3 個月自由流通週轉率均達3%亦可。Open p.2 ↗ |
A security passes liquidity if it ranks in the top 20% by 12-month trading value or meets the 3% free-float turnover frequency requirement, with a three-month alternative for listings under one year. |
| Minimum size | Metric: Full market cap; Threshold: Top 50 stocks ranked by issued-share market capitalisation after applying the liquidity screen | 排序方式：依股票發行市值由大到小排序，選取前50 名股票。Open p.2 ↗ |
Eligible stocks are ranked by market capitalisation based on issued shares from largest to smallest, and the top 50 are selected. |
| Suspension rule | Stocks publicly announced as suspended from trading are excluded from the universe, except new share exchanges caused by capital reduction, conversion into a holding or newly established company, or par-value changes. | 非屬管理股票、興櫃股票及經公告為變更交易方法或停止買賣股票者；但因減資或轉換為控股公司、新設公司或變更面額等原因換發新股票而停止買賣者仍可列入母體。Open p.1 ↗ |
Suspended stocks are excluded unless the suspension is due to specified share-exchange corporate events. |
| M5 Weighting and capping · 9 fields | |||
| Factor tilt weight formula | constituent_weight = free_float_market_cap_weight + sum of investment-factor adjustment weights; each adjustment equals factor strength × factor weight × adjustment ratio, with m equal to 10. | 4. 投資因子指標調整權重之決定方式： 𝑚成分股權重𝑖= 自由流通市值權重𝑖+ ∑投資因子指標調整權重𝑖,𝑗 𝑗=1 𝑚 = 自由流通市值權重𝑖+ ∑因子強度𝑗× 因子權重× 調整比例𝑖,𝑗 𝑗=1其中， m = 10；Open p.2 ↗ |
A constituent's weight equals its free-float market-capitalization weight plus ten investment-factor adjustments, each calculated as factor strength times factor weight times the adjustment ratio. |
| Factor weight | 15% | 因子權重：15%；Open p.3 ↗ |
The factor weight used in the investment-factor adjustment is 15%. |
| Factor strength regime | Short ma greater or equal long ma: all investment-factor indicator strengths sum to 100%; Short ma below long ma: 100% | 因子強度：依「臺灣全市場指數」之短天期移動平均(S_MA)及長天期移動平均(L_MA)設定； a. S_MA≥L_MA：各項投資因子指標的因子強度總和皆為100%； b. S_MA<L_MA：選取規模、價值、品質3項投資因子指標，其因子強度總和分別為100%、100%、150%；Open p.3 ↗ |
When the short moving average is at least the long moving average, all factor strengths total 100%; otherwise, only size, value, and quality are selected, with strengths totaling 100%, 100%, and 150%. |
| Investment factor indicators | Factor: Size; Indicator: average issued market capitalization over the most recent month, Factor: Value; Indicator: earnings-to-price ratio = earnings per share / closing price, Factor: Value; Indicator: operating cash-to-liabilities ratio = operating cash flow / current liabilities, Factor: Growth; Indicator: revenue growth rate, Factor: Quality; Indicator: asset profitability = gross operating profit / total assets, Factor: Quality; Indicator: gross margin = gross operating profit / net operating revenue, Factor: Quality; Indicator: operating margin = operating profit / net operating revenue, Factor: Momentum; Indicator: absolute price momentum = six-month adjusted-share-price return, Factor: Momentum; Indicator: relative price momentum = closing price / highest price over the past 52 weeks, Factor: Momentum; Indicator: earnings-growth momentum = annual net-profit-after-tax growth / standard deviation of annual net-profit-after-tax growth | 3. 投資因子指標： a. 規模因子： i. 規模指標：最近1 個月平均發行市值。 b. 價值因子：價值因子包含以下二指標i. 益本比：每股盈餘 / 收盤價ii. 營運現金負債比：營運現金流量 / 流動負債c. 成長因子： i. 成長指標：營收成長率Open p.2 ↗ |
The factor model uses size, value, growth, quality, and momentum indicators, including one-month average market cap, earnings yield, cash-flow coverage, revenue growth, profitability ratios, six-month momentum, 52-week relative strength, and earnings-growth momentum. |
| Weighting scheme | Factor tilted | 1. 以自由流通市值加權為基礎，依投資因子指標調整權重。Open p.2 ↗ |
Weights are based on free-float-adjusted market capitalization and are adjusted by investment-factor indicators. |
| Free float factor | Method: Free float | 1. 自由流通量係數若低於10%，則不納入成分股採樣。Open p.5 ↗ |
The index uses a free-float factor; securities with a factor below 10% are excluded, and the factor is updated at periodic review effective dates using the latest data produced under the provider's free-float factor rules. |
| Weight cap | 20% | 2. 個別成分股權重不得超過20%，且前五大成分股權重總和不得超過65%；其中，若成分股於發行量加權股價指數之權重超過20%，則以占發行量加權股價指數之權重設為其權重上限。Open p.2 ↗ |
Each constituent's weight may not exceed 20%, except that a constituent weighing more than 20% in the Taiwan Weighted Index uses that parent-index weight as its cap. |
| Group cap | Top n: 5; Aggregate (%): 65 | 2. 個別成分股權重不得超過20%，且前五大成分股權重總和不得超過65%；其中，若成分股於發行量加權股價指數之權重超過20%，則以占發行量加權股價指數之權重設為其權重上限。Open p.2 ↗ |
The aggregate weight of the top five constituents may not exceed 65%. |
| Divisor adjustment rule | Market-capitalization reference indices adjust the divisor while leaving coefficient products unchanged; investable and Smart Beta indices may adjust coefficient products or the divisor according to indexing-investment needs. | 「市值參考型指數」係傳統的市場參考指標，主要反映指數成分股價格波動所造成的發行市值消長，為避免僅因企業活動改變指數市值而導致指數斷層的不連續現象，採調整指數除數但係數乘積不變的方式，以維持指數的連續性From TIP Corporate Actions and Events Methodology ↗ |
To maintain index continuity, market-capitalization reference indices adjust the divisor without changing coefficient products, while market-capitalization investable and Smart Beta indices assess practical indexing needs and adjust coefficient products or the divisor. |
| M6 Review and rebalance schedule · 11 fields | |||
| Fixed constituent count | 50 constituents | 每次定期審核後選取固定的成分股檔數50 檔。Open p.4 ↗ |
Each periodic review selects a fixed count of 50 constituents. |
| Divisor maintenance data basis | closing data on the trading day immediately before the periodic review effective date | 指數除數維護方式，採成分股定期審核生效日前一交易日收盤資料，計算新成分股組合與原成分股組合之指數市値差異作為異動指數市值。Open p.4 ↗ |
The index divisor is maintained using closing data on the trading day immediately before the review effective date. |
| Insufficient history representative company rule | For holding companies or newly established companies with insufficient screening history, data from a converted-share representative company or stock may be combined if that representative qualifies for the sampling universe. | 控股公司或新設公司定期審核使用之成分股篩選資料期間不足者，如轉換股份之代表公司符合採樣母體資格，得合併採用該代表公司或股票之資料。Open p.5 ↗ |
If a holding or newly established company lacks enough review data, data from its converted-share representative company or stock may be combined when that representative qualifies for the sampling universe. |
| Review frequency | Quarterly | 每年4 次進行成分股定期審核，以1、4、7、10 月的第7 個交易日為審核基準日，審核資料截至前一個月最後一個交易日。Open p.4 ↗ |
Constituents are reviewed four times per year. |
| Review types | Scheduled review, Ad hoc | The index has scheduled periodic reviews and non-scheduled constituent adjustments for corporate-action maintenance. | |
| Review months | January, April, July, October | 每年4 次進行成分股定期審核，以1、4、7、10 月的第7 個交易日為審核基準日，審核資料截至前一個月最後一個交易日。Open p.4 ↗ |
Scheduled reviews use benchmark dates in January, April, July, and October. |
| Data cutoff rule | Reference date: seventh trading day of January, April, July and October; Data cutoff: last trading day of the preceding month | 每年4 次進行成分股定期審核，以1、4、7、10 月的第7 個交易日為審核基準日，審核資料截至前一個月最後一個交易日。Open p.4 ↗ |
The review benchmark is the seventh trading day of January, April, July, and October, with review data through the last trading day of the prior month. |
| Announcement rule | — | — (not found verbatim in the PDF) |
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| Effective date rule | five trading days after the review benchmark date | 成分股定期審核結果，於審核基準日之後，間隔5 個交易日後生效。Open p.4 ↗ |
Periodic review results become effective five trading days after the review benchmark date. |
| Rebalance frequency | — | — (not found verbatim in the PDF) |
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| Weight reset frequency | — | — (not found verbatim in the PDF) |
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| M7 Buffers and turnover control · 5 fields | |||
| Candidate rank band | Lower rank: 41; Upper rank: 60 | 處理後，將排名第41 至60 名視為候選成分股，以既有成分股優先，按排名挑選成分股。Open p.4 ↗ |
Ranks 41 through 60 are treated as candidate constituents, with existing constituents selected first by rank. |
| Buffer zone | Entry rank: 40; Exit rank: 60 | 排名在第40 名以內之股票即納入成為指數成分股，既有成分股若排名在第60 名之後則從指數成分股中刪除Open p.4 ↗ |
Stocks ranked within 40 enter the index, while existing constituents ranked below 60 are removed. |
| Size segment buffer | — | — (not found verbatim in the PDF) |
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| Liquidity buffer existing | — | — (not found verbatim in the PDF) |
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| Maximum turnover per review | — | — (not found verbatim in the PDF) |
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| M8 Corporate actions, IPOs, ad-hoc changes · 7 fields | |||
| Fast entry | — | — (not found verbatim in the PDF) |
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| Ad-hoc deletion | Other | 成分股不定期調整、係數乘積、發行股數、指數除數等維護，依本公司「TIP 指數系列企業活動處理通則」辦理；成分股若因此刪除，則不予遞補。Open p.5 ↗ |
Constituents may be removed on a non-scheduled basis under the TIP corporate-action rules, but specific deletion triggers are not listed. |
| Replacement policy | None | 成分股不定期調整、係數乘積、發行股數、指數除數等維護，依本公司「TIP 指數系列企業活動處理通則」辦理；成分股若因此刪除，則不予遊補。Open p.5 ↗ (not found verbatim in the PDF) |
If a constituent is deleted through non-scheduled corporate-action maintenance, it is not replaced. |
| Deletion price | — | — (not found verbatim in the PDF) |
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| Share or float change threshold | — | — (not found verbatim in the PDF) |
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| Corporate actions guide ref | TIP 指數系列企業活動處理通則 | 特選臺灣智慧50 指數為SmartBeta 投資型指數，成分股不定期調整、係數乘積、發行股數、指數除數等維護，依本公司「TIP 指數系列企業活動處理通則」辦理Open p.5 ↗ |
Non-scheduled constituent adjustments, coefficient products, issued shares, and the index divisor are maintained under the TIP Index Series Corporate Action Processing Rules. |
| Merger spinoff rules | Merger acquisition: Treatment depends on whether the acquirer is a constituent and whether consideration is cash, newly issued shares, or mixed cash and shares; acquired constituents are deleted at termination, retained market value is used during suspension, and acquirer shares or coefficients are adjusted as specified; Spin off: Spin-offs are treated according to whether the spun-off new or existing company belongs to the index universe and sampling universe; if it qualifies, it may be added, otherwise the split constituent is deleted or retained with reduced shares and divisor adjustment | 合併公司全數以現金收購合併成分股公司或非成分股公司From TIP Corporate Actions and Events Methodology ↗ |
Mergers and acquisitions are handled according to the acquirer's constituent status and the form of consideration, with acquired constituents deleted, retained values carried through suspension, and shares, coefficients and divisors adjusted by the applicable branch. A constituent spin-off may result in deletion, retention with a reduced share count, or inclusion of the spun-off company depending on index-universe and sampling-universe eligibility. |
| M9 Calculation and return variants · 13 fields | |||
| Administrator | Taiwan Index Company | 由臺灣指數公司負責編製，委請臺灣證券交易所計算及即時資訊傳輸。Open p.1 ↗ |
Taiwan Index Company compiles the index. |
| Calculation agent | Taiwan Stock Exchange | 由臺灣指數公司負責編製，委請臺灣證券交易所計算及即時資訊傳輸。Open p.1 ↗ |
The Taiwan Stock Exchange is entrusted with index calculation and real-time information transmission. |
| Base date | 2022-03-18 | 註1：基期設定為2022 年3 月18 日，基準指數設定為5000 點。Open p.4 ↗ |
The base period is set as 18 March 2022. |
| Base level | 5,000 points | 註1：基期設定為2022 年3 月18 日，基準指數設定為5000 點。Open p.4 ↗ |
The base index level is set at 5,000 points. |
| Corporate actions reference | TIP 指數系列企業活動處理通則 SmartBeta 投資型指數 | 使用之係數依本公司「TIP 指數系列企業活動處理通則」SmartBeta 投資型指數所定Open p.4 ↗ |
Coefficients and divisor adjustments follow the TIP Index Series Corporate Action Guidelines for SmartBeta investment indices. |
| Formula type | Divisor | 指數市值× 基準指數指數=指數除數Open p.4 ↗ |
The price and total return indices are calculated using an index divisor applied to index market capitalisation and a base index level. |
| Price source | Latest trade price | 每隔五秒以成分股最新成交價格計算及公布即時指數一次，並於每日收盤後計算一次收盤指數。Open p.3 ↗ |
The intraday index is calculated using each constituent's latest traded price. |
| Calculation frequency | Real time interval: 5; Real time interval unit: Seconds; Closing calculation: Yes | 自2022 年4 月18 日起，於臺灣證券交易所與中華民國證券櫃檯買賣中心交易時間內，每隔五秒以成分股最新成交價格計算及公布即時指數一次，並於每日收盤後計算一次收盤指數。Open p.3 ↗ |
Since 18 April 2022, the index has been calculated and published every five seconds during market hours and once after the daily close; the total return index is calculated and published once after the close. |
| Return variants | PR, GTR | 特選臺灣智慧50 指數分「價格指數」 (Price Index)、「報酬指數」 (Total Return Index)Open p.1 ↗ |
The index is published as a price index and a total return index; no net total return variant is stated. |
| Dividend treatment | Cash dividends reflected in total return index | 臺灣指數公司另編製特選臺灣智慧50 報酬指數，就特選臺灣智慧50 指數考量現金股利因素後加以調整，用以反映包含現金股利之報酬Open p.3 ↗ |
The total return index is adjusted for cash dividends to reflect returns including cash dividends. |
| Divisor adjustment | Post close constituent adjustments, Corporate actions, Changes in index market capitalisation | 收盤後成分股依本公司「TIP 指數系列企業活動處理通則」SmartBeta 投資型指數調整指數除數以維持指數連續性，調整方式如下Open p.4 ↗ |
After the close, the divisor is adjusted for constituent changes under the SmartBeta corporate-action rules when index market capitalisation changes, so that index continuity is maintained. |
| Market disruption rule | If the TWSE centralised market cannot open normally or is closed, index calculation and publication stop. | 若證交所有價證券集中交易市場（以下稱：集中市場）因故無法正常開市或休市，指數將停止計算發布。From TIP General Principles for TIP Securities Indices ↗ |
Index calculation and publication are stopped when the Taiwan Stock Exchange centralised market is unable to open normally or is closed. |
| Recalculation policy | Missed intraday real-time indices are not recalculated after a real-time calculation or publication system failure., Affected daily closing indices after a major-emergency suspension are recalculated within five trading days after operations resume. | 若指數發生3.3.2 之情事，將不會回溯計算發布遺漏的盤中即時指數。From TIP General Principles for TIP Securities Indices ↗ |
Missed intraday real-time values are not back-calculated, whereas closing values affected by a major-emergency suspension are retrospectively calculated and corrected. |
| M10 Governance, change policy, disclosure · 7 fields | |||
| General index principles reference | 臺灣指數公司有價證券指數通則 | 指數編製、維護及管理等原則，參閱「臺灣指數公司有價證券指數通則」。Open p.1 ↗ |
Principles for index compilation, maintenance and management refer to the Taiwan Index Company general rules for securities indices. |
| Oversight body | Taiwan Index Company | 臺灣指數公司依指數編製規則進行成分股定期審核。Open p.1 ↗ |
Taiwan Index Company is responsible for compiling, conducting periodic constituent reviews, and maintaining closing market-capitalisation records for the index. |
| Discretion points | handling urgent situations not covered or not clearly governed by the rules, deciding whether to terminate an index, final decision on changes to individual index compilation rules, adjusting weight-cap parameters when weights total less than 100%, shortening the announcement period for methodology changes in specified circumstances | 又必須及時處理時，其處理方式的任何決定，本公司將基於指數能符合公正、公平、公開的原則下進行決策。From TIP General Principles for TIP Securities Indices ↗ |
The company may decide treatment of unforeseen urgent matters, determine whether to terminate indices, make final decisions on methodology changes, and adjust weight-cap parameters or notice periods in specified situations. |
| Methodology review frequency | The general rules are reviewed from time to time; the committee normally meets twice per year. | 本指數通則由本公司不定期審視，以期能持續實現指數之編製目標From TIP General Principles for TIP Securities Indices ↗ |
The general rules are reviewed irregularly, while the Index Compilation Committee is normally convened twice per year. |
| External review | The Index Compilation Committee is consulted on content formulation and major changes to the general rules. | 內容制定或任何重大變更將向指數編製委員會徵詢意見，作為擬訂或增修之參考。From TIP General Principles for TIP Securities Indices ↗ |
Opinions are sought from the Index Compilation Committee when formulating the rules or making any material changes. |
| Change announcement | Taiwan Index Company website, technical notices, press releases, notifications to authorised clients | 授權發行金融商品之指數，編製規則修改將於新編製規則生效前於本公司網站公告技術通知。From TIP General Principles for TIP Securities Indices ↗ |
Results, rules, changes and emergency responses are disclosed on the company website, through technical notices or press releases, and by notifications to authorised clients. |
| Cessation policy | insufficient number of constituents, incomplete or unreliable data required for periodic review, changes in market environment, regulations or potential constituents making the objective difficult to achieve, a customised index's original purpose no longer exists or there is no practical application demand | 指數終止編製發布之啟動事由，包含但不限於下列情事；本公司經審慎評估後，決定指數是否終止編製發布。指數成分數量不足From TIP General Principles for TIP Securities Indices ↗ |
An index may be terminated after careful assessment when constituents are insufficient, review data are incomplete or unreliable, market or regulatory changes prevent achievement of its objective, or a customised index has no purpose or demand. |
Open points · 28Model-written, for reference
- 1Index code, ISIN, third-party vendor tickers, calculation agent, launch date, base date, base value, calculation currency, methodology version, methodology date and benchmark regulatory status were not stated.
- 2No parent index was identified beyond the methodology-defined index universe.
- 3Listing boards or market segments beyond TWSE listed stocks and TPEx emerging/over-the-counter stocks were not separately specified.
- 4The company nationality assignment rule was not stated because the universe is domestically defined by listing venue.
- 5Specific individual investment factors, intended use, stated limitations and free-float eligibility threshold were not provided.
- 6No foreign ownership room, voting rights, minimum price, financial-health, ESG, business exclusion or extreme-price screen was stated.
- 7The liquidity rule does not specify a buffer for existing constituents.
- 8The ranking rule does not state a tie-breaking procedure.
- 9No announcement publication channel or announcement timing was stated.
- 10No separate weight-rebalancing or weight-reset frequency was stated.
- 11No size-segment buffer, liquidity buffer for existing constituents, or maximum turnover cap was stated.
- 12No fast-entry rule for large new listings was stated.
- 13Specific ad-hoc deletion triggers, merger or spin-off treatment, deletion price, and share or free-float change threshold are not provided; they may be covered by the referenced corporate-action guide.
- 14Calculation returns.precision: no published index-level decimal precision was stated.
- 15Withholding tax basis: no withholding tax basis was stated; the document identifies only a total return index and not a net total return index.
- 16Market disruption rule: no market closure or disruption calculation rule was stated.
- 17Recalculation policy: no policy for correcting or restating published index levels was stated.
- 18Discretion points: no specific discretionary powers were stated.
- 19Methodology review frequency: no methodology review frequency was stated.
- 20External review: no external review process was stated.
- 21Material change definition: no definition of material methodology change was stated.
- 22Consultation procedure: no consultation procedure was stated.
- 23Notice period: no advance notice period for changes was stated.
- 24Error correction policy: no error correction or restatement policy was stated.
- 25Change announcement: no specific disclosure channels beyond real-time transmission by the Taiwan Stock Exchange were stated.
- 26Constituents published: whether and how often a constituent list is publicly published was not stated.
- 27Cessation policy: no index discontinuation policy was stated.
- 28Not coveredM4 Selection and constituent count: not covered by this edition
Read by a language model (doubao-seed-2.1-pro) on 2026-10-04 · prompt 1.3 · schema 1 · 65 of 67 quotes found word for word in the PDF · includes general rules: General Principles for TIP Securities Indices v1.1.2, TIP Corporate Actions and Events Methodology v2.3.7
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