Also known as: 臺灣多因子優選高股息30指數 · IX0171 Index (Bloomberg) · IX0171 (TIP code)
Tracked by: 00915 (ETF)
At a glance
- Weighting schemeFree float market cap
- Review frequencySemi-annual
- Single cap8
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 10 fields | |||
| Constituent count | 30 securities | 綜合考量低波因子及股利因子表現依序選取30 檔股票Open p.1 ↗ |
The index selects 30 constituent stocks. |
| Index name | Taiwan Index Client Selected Taiwan Listed and Emerging Multi-Factor Preferred High Dividend 30 Index | 臺灣指數公司特選臺灣上市上櫃多因子優選高股息30 指數Open p.1 ↗ |
The official Chinese name identifies the Taiwan Index Company Selected Taiwan Listed and Over-the-Counter Multi-Factor Preferred High Dividend 30 Index. |
| Index short name | 臺灣多因子優選高股息30 指數 | 簡稱臺灣多因子優選高股息30 指數」Open p.1 ↗ |
The vendor abbreviates the index as Taiwan Multi-Factor Preferred High Dividend 30 Index. |
| Local index name | 臺灣指數公司特選臺灣上市上櫃多因子優選高股息30 指數 | 臺灣指數公司特選臺灣上市上櫃多因子優選高股息30 指數Open p.1 ↗ |
The local-language index name is the Taiwan Index Company Selected Taiwan Listed and Over-the-Counter Multi-Factor Preferred High Dividend 30 Index. |
| Administrator | Taiwan Index Company | 臺灣指數公司特選臺灣上市上櫃多因子優選高股息30 指數Open p.1 ↗ |
The index is administered by Taiwan Index Company. |
| Index family | Taiwan Index Company multi-factor high-dividend index series | 臺灣指數公司特選臺灣上市上櫃多因子優選高股息30 指數Open p.1 ↗ |
The index belongs to Taiwan Index Company's multi-factor preferred high-dividend index series. |
| Objective | 表彰兼具財務品質、低波動及現金股利的股票投資組合績效表現。 | 表彰兼具財務品質、低波動及現金股利的股票投資組合績效表現。Open p.1 ↗ |
The index aims to represent the performance of an equity portfolio combining financial quality, low volatility, and cash dividends. |
| Size segment | Custom | 採樣範圍：指數母體排除創新板股票後，屬發行市值前300 大之股票。Open p.1 ↗ |
The index uses the 300 largest listed and over-the-counter stocks by issued market value and prioritizes large free-float market capitalization, but its target segment is a custom 30-stock high-dividend portfolio. |
| Index family type | Dividend yield | 綜合考量低波因子及股利因子表現依序選取30 檔股票，再以自由流通市值結合股利因子指標，配置成分股權重Open p.1 ↗ |
The index is a dividend-yield strategy that also applies quality and low-volatility factor screens. |
| Factor exposures | Quality, Yield, Low volatility, Multi factor | 經流動性檢驗、品質因子及下方風險篩選後，以規模為優先，綜合考量低波因子及股利因子表現依序選取30 檔股票Open p.1 ↗ |
The index exposes the portfolio to quality, dividend yield, low volatility, and a combined multi-factor selection process. |
| M2 Universe · 7 fields | |||
| Eligible universe | Top 300 stocks by issued market capitalization, after excluding innovation board stocks from the index population. | 採樣範圍：指數母體排除創新板股票後，屬發行市值前300 大之股票。Open p.1 ↗ |
The sampling universe is the top 300 stocks by issued market capitalization after innovation board stocks are excluded. |
| New certificate suspension exception | Stocks suspended because new certificates are exchanged due to capital reduction, conversion to a holding company, newly established company, or par-value change may remain in the population. | 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 suspended solely because new share certificates were exchanged after capital reduction, restructuring into a holding or new company, or par-value changes may still be included. |
| Markets | Taiwan | 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 universe covers stocks listed on Taiwan's main exchange and stocks traded on Taiwan's over-the-counter market. |
| Exchanges | 臺灣證券交易所, 中華民國證券櫃檯買賣中心 | 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 ↗ |
Securities must be listed on the Taiwan Stock Exchange or traded over the counter on the TPEx. |
| Security types | Common | 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 shares. |
| Parent universe index | — | 採樣範圍：指數母體排除創新板股票後，屬發行市值前300 大之股票。Open p.1 ↗ |
The document defines a parent pool of the top 300 stocks by issued market value but does not identify a parent index. |
| Exclusions | Managed stocks, Emerging stocks, Stocks with announced changed trading methods, Stocks with suspended trading, Innovation board stocks, Stocks outside top 300 issued market capitalization | 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 ↗ |
The universe excludes managed stocks, emerging stocks, stocks placed under changed trading methods or suspended, innovation board stocks, and stocks outside the top 300 by issued market capitalization. |
| M3 Eligibility screens · 9 fields | |||
| Dividend indicator | Dividend yield is calculated as the average of the three-year average cash dividend, the latest one-year cash dividend, and the latest four-quarter EPS sum multiplied by the three-year average cash-dividend payout ratio. | 股息指標：以下列指標之平均數計算股利率。 i. 最近3 年平均現金股利ii. 最近1 年現金股利iii. 最近4 季每股盈餘總和×最近3 年現金股利平均發放率Open p.2 ↗ |
The dividend score averages three dividend-related measures, including historical cash dividends and EPS multiplied by the average payout ratio. |
| Volatility indicator | Inverse of the standard deviation of daily total returns over the latest 252 days. | 波動指標：計算近252 日日還原報酬標準差之倒數。Open p.2 ↗ |
The volatility indicator is the reciprocal of the 252-day daily total-return standard deviation. |
| Selection order | Adjusted dividend indicator is non-negative, Adjusted volatility indicator sorted in descending order | 若檔數非30 檔，則依下列順序選取30 檔成分股。 i. 調整後股利指標非負值ii. 調整後波動指標遞減排序Open p.2 ↗ |
If prioritizing stocks above the free-float market-capitalization threshold does not produce 30 names, candidates are selected by non-negative adjusted dividend score and then descending adjusted volatility score. |
| Trading history | Minimum value: 1 year; Exceptions: Newly listed or newly over-the-counter-registered stocks under one year must each have free-float turnover of at least 3% in each of the latest three calendar months | 初次上市、上櫃股票未滿1 年者，最近3 個日曆月自由流通週轉率均需達3%以上。Open p.2 ↗ |
The general liquidity test uses a 12-month history; stocks listed or registered over the counter for less than one year use a three-month free-float turnover test. |
| Liquidity screen | Metric: Liquidity ratio; Window: 12 calendar months, or 3 calendar months for stocks listed or over-the-counter registered for less than one year; Threshold: Among the top 80% by total trading value over the latest 12 calendar months, and either among the top 20% by total trading value or at least 8 months with free-float turnover reaching 3%; new listings under one year require at least 3% free-float turnover in each of the latest 3 calendar months | 最近12 個日曆月成交金額總額前80%股票，且滿足以下任一條件視為通過流動性篩選： a. 最近12 個日曆月成交金額總額前20%股票。Open p.2 ↗ |
A stock must be in the top 80% by 12-month trading value and satisfy either top-20% trading value or the free-float turnover condition, with a shorter three-month test for new listings under one year. |
| Minimum size | Metric: Float adjusted market cap; Threshold: 20,000,000,000 | 波動指標與股息指標經調整1後，優先選取自由流通市值達200億元以上者Open p.2 ↗ |
After factor adjustment, stocks with free-float market capitalization of at least TWD 20 billion are selected first. |
| Financial screens | The sum of operating profit over the latest four quarters must be positive., Financial companies are ranked by return on assets and the bottom 25% are excluded., Non-financial companies are ranked by return on equity and the bottom 25% are excluded. | 獲利能力：最近4 季營業利益總和為正數。Open p.2 ↗ |
Candidates must have positive aggregate operating profit over four quarters, and the bottom 25% by ROA for financials or ROE for non-financials are removed. |
| Business or ESG exclusions | Annual-dividend stocks whose board has decided not to pay dividends or has not decided the cash dividend amount by the review data cutoff at the June periodic review are excluded., Annual-dividend stocks that have already gone ex-dividend before the effective date are excluded., Stocks in the highest 10% by standard deviation of negative daily total returns over the latest 126 days are excluded. | 配息指標：排除當年度6 月定期審核時，於審核資料截止日前董事會決定不配息或未決定發放現金股利金額，或生效日前已除息之年配息股票。Open p.2 ↗ |
The screening excludes stocks without an eligible cash-dividend decision, annual-dividend stocks already ex-dividend before effectiveness, and stocks with the worst downside risk. |
| Extreme price screen | — | — (not found verbatim in the PDF) |
The provided sections do not state a screen that excludes securities because of abnormal price increases. |
| M5 Weighting and capping · 11 fields | |||
| Dividend indicator adjustment | Yes | 自由流通市值加權，再依股息指標調整權重。Open p.2 ↗ |
Weights are based on free-float market capitalisation and then adjusted by a dividend indicator. |
| Dividend indicator standardization | Values are winsorised at 95% and then standardised. | 數值經95%縮尾處理後再進行標準化。Open p.2 ↗ |
Dividend-indicator values are winsorised at the 95% level before standardisation. |
| Financial sector initial weight cap exception | Yes | 依自由流通市值加權再依股息指標調整後權重作為計算標準，除金融業外，單一產業初始權重上限為15%。Open p.2 ↗ |
The initial 15% sector weight cap applies to each non-financial industry; the financial industry is excluded from that cap. |
| Free float ratio adjustment frequency | Updated on the effective date of periodic constituent reviews. | 配合成分股定期審核生效日，更新自由流通量係數。Open p.5 ↗ |
Free-float factors are updated in conjunction with the effective date of periodic constituent reviews. |
| Weighting scheme | Free float market cap | 自由流通市值加權，再依股息指標調整權重。Open p.2 ↗ |
The index uses free-float market-capitalisation weighting, with weights subsequently adjusted by a dividend indicator. |
| Free float factor | Method: Free float | 自由流通量係數若低於10%，則不納入成分股採樣。Open p.5 ↗ |
Free-float factors are used in weighting, securities with a factor below 10% are excluded from sampling, and factors are updated from the most recent data produced under the provider's free-float factor rules. |
| Weight cap | 8% | 個別成分股權重上限為8%，同時不得超過自由流通市值占比之5倍Open p.2 ↗ |
Each constituent's weight is capped at 8% and may not exceed five times its free-float market-capitalisation weight. |
| Sector cap (%) | 15% | 依自由流通市值加權再依股息指標調整後權重作為計算標準，除金融業外，單一產業初始權重上限為15%。Open p.2 ↗ |
Except for the financial industry, the initial weight cap for a single industry is 15%. |
| Cap application timing | At review | 依自由流通市值加權再依股息指標調整後權重作為計算標準，除金融業外，單一產業初始權重上限為15%。Open p.2 ↗ |
The stated industry limit is an initial weight cap, and free-float factors are updated on periodic review effective dates. |
| Shares outstanding | The most recent free-float factor data produced under Taiwan Index Corporation's Free-Float Factor Compilation Rules is used. | 自由流通量係數依據臺灣指數公司「自由流通量係數編製規則」產製之最近期數據更新。Open p.5 ↗ |
Free-float factors are updated using the most recent data produced under Taiwan Index Corporation's Free-Float Factor Compilation Rules. |
| 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 · 10 fields | |||
| Fixed constituent count after review | 30 constituents | 每次定期審核後選取固定的成分股檔數30 檔。Open p.4 ↗ |
Each regular review selects a fixed count of 30 constituents. |
| Divisor maintenance during transition | The divisor maintenance uses each previous trading day's closing data during the regular-review transition period to calculate the market-capitalization difference between the new and old constituent portfolios. | 指數除數維護方式，採成分股定期審核之指數調整過渡期各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 ↗ (not found verbatim in the PDF) |
During the transition period, the divisor is maintained using the prior trading day's closing data to measure the market-cap difference between the new and old portfolios. |
| Insufficient data company rule | For holding companies or newly established companies with insufficient screening-data history for a regular review, data for a representative company or stock may be combined if that representative company 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 sufficient data, data from a qualifying representative company or its stock may be combined for the review. |
| Review frequency | Semi-annual | 每年2 次進行成分股定期審核，以6、12 月的第17 個交易日為審核基準日，審核資料截至6、12 月的第10 個交易日3。Open p.4 ↗ |
Constituents are regularly reviewed twice per year. |
| Review types | Semi annual review, Ad hoc | 每年2 次進行成分股定期審核，以6、12 月的第17 個交易日為審核基準日，審核資料截至6、12 月的第10 個交易日3。Open p.4 ↗ |
The index has semi-annual scheduled constituent reviews and ad hoc constituent adjustments. |
| Review months | 6, 12 | 每年2 次進行成分股定期審核，以6、12 月的第17 個交易日為審核基準日，審核資料截至6、12 月的第10 個交易日3。Open p.4 ↗ |
The regular reviews use June and December reference dates. |
| Data cutoff rule | Reference date: 17th trading day of June and December; Data cutoff: 10th trading day of June and December | 每年2 次進行成分股定期審核，以6、12 月的第17 個交易日為審核基準日，審核資料截至6、12 月的第10 個交易日3。Open p.4 ↗ |
The review reference date is the 17th trading day of June and December, with review data cut off at the 10th trading day. |
| Effective date rule | five trading days after the review reference 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；於指數定期審核生效日(含)起設有5 個交易日的指數調整過渡期，將定期審核異動之權重分配在5 個交易日內調整。Open p.4 ↗ |
Regular review results become effective five trading days after the review reference date. |
| Rebalance frequency | Semi-annual | 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；於指數定期審核生效日(含)起設有5 個交易日的指數調整過渡期，將定期審核異動之權重分配在5 個交易日內調整。Open p.4 ↗ |
Regular constituent and weight changes are implemented through the semi-annual review. |
| Weight reset frequency | semi_annual, phased over five trading days | 於指數定期審核生效日(含)起設有5 個交易日的指數調整過渡期，將定期審核異動之權重分配在5 個交易日內調整。Open p.4 ↗ |
Weights affected by the regular review are adjusted over the five-trading-day transition period beginning on the effective date. |
| M7 Buffers and turnover control · 1 field | |||
| Maximum turnover per review | 14 constituents | 成分股之檔數替換限制：定期審核需滿足至多替換 14 檔之限制。Open p.4 ↗ |
A regular review may replace at most 14 constituents. |
| M8 Corporate actions, IPOs, ad-hoc changes · 4 fields | |||
| 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 an ad hoc basis under corporate-events maintenance, but the supplied text does not enumerate specific deletion triggers. |
| 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，則不予遞補。Open p.5 ↗ |
If a constituent is deleted due to ad hoc corporate-events maintenance, it is not replaced. |
| Corporate actions guide ref | TIP 指數系列企業活動處理通則 | 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 ↗ |
Ad hoc constituent adjustments, coefficient products, outstanding shares, and index divisor maintenance follow the TIP Index Series Corporate Action Handling General 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 · 12 fields | |||
| 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 ↗ |
Taiwan Index Commission compiles the index and entrusts the Taiwan Stock Exchange with calculation and real-time information transmission. |
| Base value | 5,000 points | 註1：基期設定為2022 年5 月20 日，基準指數設定為5000 點。Open p.4 ↗ |
The base index level is set at 5,000 points. |
| Base date | 2022-05-20 | 註1：基期設定為2022 年5 月20 日，基準指數設定為5000 點。Open p.4 ↗ |
The base date is May 20, 2022. |
| Weight allocation cap | 8% | 若無法完成權重分配時，得逐步放寬倍數限制進行調整，但仍不得超過8%。Open p.4 ↗ |
If weight allocation cannot be completed, multiplier limits may be relaxed step by step, but the cap remains 8%. |
| Formula type | Divisor | 指數市值× 基準指數指數=指數除數Open p.3 ↗ |
The index is calculated using an index divisor applied to index market capitalization. |
| Price source | Latest traded 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 the latest traded price of each constituent. |
| Calculation frequency | Frequency: Real time; Interval seconds: 5, Frequency: Daily; Timing: After close | 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 price index is 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 | 臺灣多因子優選高股息30 指數分「價格指數」 (Price Index)、「報酬指數」 (Total Return Index)Open p.1 ↗ |
The index family includes a price index and a total return index that reflects returns including cash dividends. |
| Dividend treatment | Cash dividends reflected in total return index | 就臺灣多因子優選高股息30 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 that include cash dividends. |
| Divisor adjustment | Post close constituent adjustments, Corporate actions and constituent changes under smartbeta rules | 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Open p.4 ↗ |
After the close, the divisor is adjusted according to the SmartBeta corporate-action rules when constituents or index market capitalization change, preserving index continuity. |
| 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 · 9 fields | |||
| General rules reference | TIP General Rules for Securities Indexes | 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 are governed by the Taiwan Index Commission General Rules for Securities Indexes. |
| Corporate actions rules reference | TIP Index Series Corporate Action Handling General Rules - SmartBeta Investment Index | 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 rules for SmartBeta investment indexes. |
| Market capitalization records | closing market capitalization records of all constituents are retained | 臺灣指數公司將保存所有成分股的收盤市值紀錄。Open p.1 ↗ |
Taiwan Index Commission keeps closing market capitalization records for all constituents. |
| Oversight body | Taiwan Index Commission | 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 Commission is responsible for compiling the index and conducting periodic constituent reviews. |
| Methodology review frequency | Periodic constituent review | 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 Commission conducts periodic reviews of constituents under the index compilation rules. |
| 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. |
| 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 · 26Model-written, for reference
- 1Official English index name and English short name were not printed.
- 2Index ISIN and Bloomberg, Refinitiv, Wind, and other data-vendor tickers were not stated.
- 3Calculation agent, launch date, base date, base value, calculation currency, methodology version, and methodology date were not stated.
- 4Benchmark regulation status and market classification were not stated.
- 5No explicit minimum free-float percentage, foreign room, voting-rights threshold, minimum share price, or abnormal-price-rise screen was stated.
- 6The treatment of suspended securities at periodic reviews was not specified beyond their exclusion from the sampling population and the new-certificate exception.
- 7No liquidity buffer specifically for existing constituents was stated.
- 8The document does not state a domestic inclusion factor or foreign ownership limit treatment.
- 9The document does not state an aggregate top-N constituent cap, country cap, explicit cap reapplication schedule after the review, shares-outstanding source separately from free-float factors, or a divisor adjustment rule.
- 10The exact treatment of the financial sector's industry weight cap is not fully specified beyond its exclusion from the 15% initial cap.
- 11The interaction between the 8% single-stock cap and the five-times free-float market-cap share limit is stated but no redistribution procedure is provided.
- 12The document does not state how or when regular review results are announced before the effective date.
- 13The document does not provide rank buffers, size-segment buffers, or relaxed liquidity thresholds for existing constituents.
- 14The document does not specify a fast-entry rule for large new listings.
- 15The document does not enumerate the specific triggers for ad hoc deletion beyond corporate-events maintenance.
- 16The document does not state merger or spin-off treatment, deletion pricing, or share/float change thresholds; these are deferred to the separate TIP corporate-action guide not supplied here.
- 17No statement found for the number of decimal places in the published index level.
- 18No statement found for a net total return variant or withholding-tax basis.
- 19No statement found specifying reference prices or closing-auction prices when a constituent has no trade.
- 20No statement found for market closure, trading halt, or market-disruption calculation treatment.
- 21No policy found for recalculating or correcting published index levels.
- 22No statement found for methodology-review frequency distinct from periodic constituent reviews.
- 23No statement found for external review, consultation procedure, material-change definition, notice period, or index cessation policy.
- 24No statement found for disclosure channels or the frequency of constituent-list publication.
- 25No explicit committee or oversight body beyond Taiwan Index Company is identified.
- 26Not 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 · 71 of 72 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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