Also known as: 臺灣永續高息中小型指數 · IX0198 Index (Bloomberg) · IX0198 (TIP code)
Tracked by: 00936 (ETF)
At a glance
- Weighting schemeDividend yield
- Review frequencySemi-annual
- Single cap10
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 12 fields | |||
| Constituent count | 30 | 擇優選取30 檔成分股；採股利指標加權計算指數Open p.1 ↗ |
The index selects 30 constituent stocks. |
| ESG assessment provider | 國立臺北大學商學院企業永續發展研究中心 | 運用「國立臺北大學商學院企業永續發展研究中心」(以下簡稱：「企業永續發展研究中心」)使用永續報告書、年報、政府資訊等公開資訊所產製之「台灣永續評鑑」結果Open p.1 ↗ |
The Corporate Sustainability Research Center of the National Taipei University College of Business produces the Taiwan Sustainability Assessment used by the index. |
| Index name | Taiwan Index Service Selected Taiwan Listed and TPEx ESG High Dividend Small and Mid Cap Index | 臺灣指數公司特選臺灣上市上櫃永續高息中小型股指數(簡稱「臺灣永續高息中小型指數」)以上市中小型公司、上櫃公司為採樣母體Open p.1 ↗ |
The document identifies the index by its full Chinese official name, with no official English name printed. |
| Index short name | 臺灣永續高息中小型指數 | 臺灣指數公司特選臺灣上市上櫃永續高息中小型股指數(簡稱「臺灣永續高息中小型指數」)Open p.1 ↗ |
The vendor's short name is Taiwan Sustainability High Dividend Small and Mid Cap Index. |
| Local index name | 臺灣指數公司特選臺灣上市上櫃永續高息中小型股指數 | 臺灣指數公司特選臺灣上市上櫃永續高息中小型股指數(簡稱「臺灣永續高息中小型指數」)Open p.1 ↗ |
The official local-language index name is the full Traditional Chinese name. |
| Administrator | 臺灣指數公司 | 臺灣指數公司特選臺灣上市上櫃永續高息中小型股指數(簡稱「臺灣永續高息中小型指數」)Open p.1 ↗ |
Taiwan Index Service is the index provider named in the document. |
| Index family | 臺灣指數公司特選系列 | 臺灣指數公司特選臺灣上市上櫃永續高息中小型股指數Open p.1 ↗ |
The index belongs to Taiwan Index Service's selected-index series as indicated by its name. |
| Objective | 表彰投資於具ESG績效與高股息之中小型股票投資績效表現 | 採股利指標加權計算指數，以表彰投資於具ESG 績效與高股息之中小型股票投資績效表現。Open p.1 ↗ |
The index aims to represent the investment performance of small- and mid-cap stocks with ESG performance and high dividends. |
| Market classification | Developed | 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 index covers listed and TPEx stocks in Taiwan, an established developed market, although the document does not print a market-classification label. |
| Size segment | Custom | 上市普通股發行市值大小排序第50 名之後股票，且依上述市值之排名設立30%緩衝區1；以及指數母體中的上櫃股票。Open p.1 ↗ |
The index targets small and mid-cap stocks using a vendor-defined TWSE rank cutoff together with TPEx stocks, rather than a standard large-, mid-, or small-cap label. |
| Index family type | Dividend yield | 再依照預估股利率與現金股利總額所計算之股利指標，擇優選取30 檔成分股；採股利指標加權計算指數Open p.1 ↗ |
The index is a high-dividend strategy index incorporating ESG screens. |
| Factor exposures | Yield | 再依照預估股利率與現金股利總額所計算之股利指標，擇優選取30 檔成分股；採股利指標加權計算指數Open p.1 ↗ |
The index explicitly selects and weights securities using a dividend indicator based on estimated dividend yield and total cash dividends. |
| M2 Universe · 7 fields | |||
| Eligible universe | Eligible universe | 以上市中小型公司、上櫃公司為採樣母體Open p.1 ↗ |
The sampling universe comprises small and mid-cap TWSE-listed companies and TPEx-listed companies. |
| Suspended stock exception | Stocks suspended because new share certificates are issued due to capital reduction, conversion into a holding company, formation of a new company, or change of par value may remain in the universe. | 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 may remain in the universe when the suspension results from issuing replacement shares after capital reduction, holding-company conversion, new-company formation, or par-value change. |
| Markets | Taiwan | The eligible universe covers stocks listed on the Taiwan Stock Exchange and stocks traded on the Taipei Exchange in Taiwan. | |
| 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 on the Taipei Exchange. |
| Boards | TWSE listed market excluding Taiwan Innovation Board, TPEx listed market | 採樣範圍：指數母體排除創新板股票後，上市普通股發行市值大小排序第50 名之後股票Open p.1 ↗ |
The universe includes the TWSE listed market and TPEx listed market, but excludes the Taiwan Innovation Board. |
| Security types | Common | 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 universe consists of common shares. |
| Exclusions | managed stocks, emerging stocks, stocks publicly announced as subject to altered trading methods, stocks with suspended trading, Taiwan Innovation Board stocks | 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 under altered trading methods, suspended stocks, and Taiwan Innovation Board stocks, subject to a stated exception for new share certificates after capital reduction or conversion. |
| M3 Eligibility screens · 9 fields | |||
| Rank buffer | Metric: Rank; Buffer range: 36, 50; Applies to: existing constituents | 1 既有成分股之發行市值排名若位於第36 至50 名，仍符合採樣範圍。Open p.2 ↗ |
Existing constituents ranked 36th through 50th by issued-share market capitalization remain within the sampling range. |
| ESG rating threshold score rate | Minimum rating: BBB; Score rate percentile: 42.5 | 3 BBB 級以上為得分率前 42.5%高之公司。Open p.2 ↗ |
A BBB or higher rating corresponds to companies in the top 42.5% by Taiwan Sustainability score rate. |
| Dividend indicator | Components: estimated dividend yield, total cash dividends; Component weight ratio: 2:1; Formula: estimated dividend yield = dividend yield × (1 + growth rate of after-tax earnings per share); dividend yield = sum of cash dividends over the latest four quarters / share price on the review data cutoff date | 股利指標係由預估股利率與現金股利總額所組成；首先分別計算預估股利率及現金股利總額之標準化分數，並透過累積分配計算後，再以2:1 比例加權計算股利指標。Open p.2 ↗ |
The dividend indicator combines standardized estimated dividend yield and total cash dividend scores using cumulative distribution and a 2:1 weighting ratio. |
| Selection rule | Rank securities in descending order by dividend indicator and select the top 30. | 排序方式：依照股利指標6遞減排序，取前30 檔股票為成分股。Open p.2 ↗ |
After screening, stocks are ranked in descending order by dividend indicator and the top 30 are selected as constituents. |
| Controversial industry assessment scope | Controversial-industry screening examines the company and subsidiaries it owns by more than 50%. | 檢視受評公司及其持股逾50%之子公司業務內容是否涉及爭議性產業。Open p.2 ↗ |
The research center reviews the company and subsidiaries more than 50% owned by it to determine involvement in controversial industries. |
| Liquidity screen | Tests: Metric: Liquidity ratio; Window: latest 3 calendar months; Threshold: ranked in the top 70% by total monthly trading value in descending order, Metric: Liquidity ratio; Window: latest 12 calendar months; Threshold: free-float turnover of at least 1% in at least 10 months; if fewer than 12 months of data are available, every month must have at least 1% | 以下兩項條件皆需符合方通過流動性檢驗： a. 最近 3 個日曆月月成交金額總額由大到小排序屬前70%。 b. 最近12 個日曆月中，至少有10 個月自由流通週轉率達1%；若資料不足12 個月，則每個月自由流通週轉率皆需達1%。Open p.2 ↗ |
A security must satisfy both liquidity tests: top-70% ranking by total trading value over the latest three calendar months, and free-float turnover of at least 1% in at least 10 of the latest 12 calendar months, or every available month if history is shorter. |
| Minimum size | Metric: Rank; Threshold: TWSE-listed common stocks must rank after the 50th largest by issued-share market capitalization; TPEx stocks are included without this rank condition | 上市普通股發行市值大小排序第50 名之後股票，且依上述市值之排名設立30%緩衝區1；以及指數母體中的上櫃股票。Open p.1 ↗ |
For TWSE-listed common stocks, the sampling range begins after the 50th stock by issued-share market capitalization, while TPEx stocks are included. |
| Financial screens | Return on equity must be positive in each of the most recent two years. | b. 財務指標: 近2 年ROE 皆為正數。Open p.2 ↗ |
The financial screen requires positive ROE in both of the most recent two years. |
| Business or ESG exclusions | Must prepare and upload the most recent annual sustainability report to the public information observatory., Taiwan Sustainability Assessment rating must be BBB or above., Companies blacklisted under the latest Taiwan Sustainability Assessment material-event rules are removed., Companies on the latest controversial-industry list are removed. | 編製最近年度永續報告書，並上傳至公開資訊觀測站。永續評鑑表現：依照「台灣永續評鑑」最近年度評鑑2社會、 ii.經濟、環境、揭露四大構面評鑑分數進行排序Open p.2 ↗ |
Eligibility requires a current sustainability report and a BBB or better Taiwan Sustainability Assessment rating, while blacklisted companies and controversial-industry companies are excluded. |
| M5 Weighting and capping · 7 fields | |||
| Weight indicator multiple cap | Multiple: 2.5; Metric: free-float market capitalization share plus average trading value share over the most recent three months | 個別成分股的權重上限為10%，同時不得超過以下指標之2.5 倍7：自由流通市值占比+近3 個月平均成交金額占比2Open p.3 ↗ |
A constituent's weight may not exceed 2.5 times the sum of its free-float market capitalization share and its average trading value share over the most recent three months. |
| Free float factor data source | Taiwan Index Company free-float factor compilation rules, most recent data | 3. 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 ↗ |
The free-float factor is updated using the most recent data produced under Taiwan Index Company's free-float factor compilation rules. |
| Free float factor update timing | on the periodic constituent review effective date | 2. 配合成分股定期審核生效日，更新自由流通量係數。Open p.5 ↗ |
The free-float factor is updated to coincide with the periodic constituent review effective date. |
| Weighting scheme | Dividend yield | 1. 股利指標加權。Open p.3 ↗ |
The index uses dividend indicators to weight constituents. |
| 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 ↗ |
Securities with a free-float factor below 10% are excluded, and the factor is updated from the issuer's free-float factor rules on the periodic review effective date. |
| Weight cap | 10% | 2. 個別成分股的權重上限為10%，同時不得超過以下指標之2.5 倍7：自由流通市值占比+近3 個月平均成交金額占比2Open p.3 ↗ |
Each constituent's weight is capped at 10%. |
| 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 · 13 fields | |||
| Fixed constituent count | 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. |
| Materiality and controversial industry review | Twice per year, companies blacklisted under the Taiwan Sustainability Assessment materiality-event rules or classified as controversial-industry companies are removed. | 每年進行2 次成分股重大性事件及爭議性產業審核，剔除經「台灣永續評鑑之重大性事件處理規則」評定為黑名單、或經「運用台灣永續評鑑及相關模組編製指數之爭議性產業篩選規則」評定屬爭議Open p.4 ↗ |
A twice-yearly materiality-event and controversial-industry review removes blacklisted or controversial-industry companies. |
| Materiality deletion no replacement | Yes | 若成分股因重大性事件或爭議性產業審核被剔除，則不遞補。Open p.4 ↗ |
Constituents removed because of a materiality event or controversial-industry review are not replaced. |
| Divisor maintenance | The divisor is maintained using closing data on the trading day immediately before each day of the review transition period to measure the market-capitalisation 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.5 ↗ |
During the scheduled-review transition period, the divisor is maintained from prior-trading-day closing data and the market-cap difference between the new and old portfolios. |
| Insufficient data for holding or new company | When a holding company or newly established company lacks sufficient screening history, data from 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 ↗ |
For holding or newly established companies with insufficient review data, data from a qualifying representative company or stock may be combined. |
| Review frequency | Semi-annual | 每年2 次進行成分股定期審核，6、12 月第7 個交易日為審核資料截止日8，其後第10 個交易日為審核基準日。Open p.4 ↗ |
Constituents are reviewed twice per year. |
| Review types | Scheduled review, Ad hoc | 每年2 次進行成分股定期審核，6、12 月第7 個交易日為審核資料截止日8，其後第10 個交易日為審核基準日。Open p.4 ↗ |
The methodology provides for scheduled constituent reviews and non-scheduled adjustments. |
| Review months | June, December, March, September | 每年2 次進行成分股定期審核，6、12 月第7 個交易日為審核資料截止日8，其後第10 個交易日為審核基準日。Open p.4 ↗ |
Regular constituent reviews use June and December data cut-offs, while material-event and controversial-industry reviews use March and September data cut-offs. |
| Data cutoff rule | The seventh trading day of June or December is the regular review data cut-off, and the tenth trading day thereafter is the review reference date; material-event and controversial-industry reviews use the seventh trading day of March or September and the tenth trading day thereafter. | 每年2 次進行成分股定期審核，6、12 月第7 個交易日為審核資料截止日8，其後第10 個交易日為審核基準日。Open p.4 ↗ |
Regular reviews use the seventh trading day in June or December as the data cut-off and the tenth trading day afterward as the reference date; March and September dates apply to material-event and controversial-industry reviews. |
| Announcement rule | — | — (not found verbatim in the PDF) |
The document does not state when or how review results are announced. |
| Effective date rule | Review results take effect five trading days after the review reference date, followed by an eight-trading-day transition period. | 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8 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8 個交易日內調整。Open p.5 ↗ |
Scheduled review changes become effective five trading days after the review reference date, and weight changes are phased in over eight trading days. |
| Rebalance frequency | — | — (not found verbatim in the PDF) |
The document does not separately state a weight-rebalancing frequency distinct from the constituent review. |
| Weight reset frequency | Twice per year with each regular review | 於指數定期審核生效日(含)起設有8 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8 個交易日內調整。Open p.5 ↗ |
Weights for scheduled review changes are adjusted over an eight-trading-day transition period following each semi-annual review. |
| M7 Buffers and turnover control · 4 fields | |||
| Buffer zone | Exit rank: 50 | 成分股調整之緩衝區：既有成分股若排名在第50 名之後則從指數成分股中刪除；處理後，以既有成分股優先，按排名挑選成分股。Open p.5 ↗ |
Existing constituents ranked after the 50th position are deleted, after which existing constituents receive priority and constituents are selected by rank. |
| Size segment buffer | — | — (not found verbatim in the PDF) |
The document does not specify a market-cap size-segment buffer. |
| Liquidity buffer existing | — | — (not found verbatim in the PDF) |
The document does not specify a relaxed liquidity threshold for existing constituents. |
| Maximum turnover per review | 50% of constituents | 惟定期審核時替換檔數需低於50%。Open p.5 ↗ |
The number of replacements at a scheduled review must be below 50%. |
| M8 Corporate actions, IPOs, ad-hoc changes · 7 fields | |||
| Fast entry | — | — (not found verbatim in the PDF) |
The document does not specify an early-inclusion rule for large new listings. |
| 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 deleted on a non-scheduled basis under the index provider's corporate-action rules, but the specific triggers are not listed in this passage. |
| 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 ↗ |
Constituents removed through non-scheduled corporate-action maintenance are not replaced. |
| Deletion price | — | — (not found verbatim in the PDF) |
The document does not specify the deletion price. |
| Share or float change threshold | — | — (not found verbatim in the PDF) |
The document does not state a threshold for implementing share or free-float changes between reviews. |
| 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Open p.5 ↗ |
Non-scheduled constituent adjustments, coefficient products, outstanding shares, and divisor maintenance follow the TIP Index Series Corporate Action 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 date | 2023-07-14 | 註1：基期設定為2023 年7 月14 日，基準指數設定為5000 點。Open p.4 ↗ |
The base date is set as 14 July 2023. |
| Base value | 5,000 points | 註1：基期設定為2023 年7 月14 日，基準指數設定為5000 點。Open p.4 ↗ |
The base index level is set at 5,000 points. |
| Market capitalisation records | Closing market capitalisation records 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 Company will retain closing market-capitalisation records for all constituent stocks. |
| Formula type | Divisor | 臺灣永續高息中小型指數為「價格指數」：
指數市值× 基準指數指數=指數除數Open p.3 ↗ |
The index is calculated as index market capitalisation multiplied by the base index level and divided by the index divisor. |
| Price source | Latest traded price | 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Open p.3 ↗ |
The real-time index uses each constituent's latest traded price during the trading session. |
| Calculation frequency | Frequency: Real time; Interval seconds: 5, Frequency: Close; Per: Trading day | 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 calculated and published every five seconds during market hours and once after the close each day; the total return index is calculated and published once after the close. |
| Return variants | PR, GTR | 臺灣永續高息中小型指數分「價格指數」 (Price Index)、「報酬指數」 (Total Return Index)Open p.1 ↗ |
The index is published in price index and total return index versions. |
| Dividend treatment | Cash dividends adjusted to reflect total return | 就臺灣永續高息中小型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 adjusts the price index for cash dividends to reflect returns including cash dividends. |
| Divisor adjustment | Corporate actions or constituent changes after close | 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, constituents are adjusted under the corporate-action rules and the divisor is adjusted to maintain 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 · 8 fields | |||
| General index rules reference | Taiwan Index Company 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 refer to Taiwan Index Company's general rules for securities indexes. |
| Corporate actions guide reference | TIP Index Series Corporate Action Processing General Rules for SmartBeta Investment Indexes | 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.3 ↗ |
Coefficient and divisor adjustments follow the TIP Index Series corporate-action processing rules for SmartBeta investment indexes. |
| Oversight body | 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 is responsible for compiling the index and conducting periodic constituent reviews. |
| 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 · 35Model-written, for reference
- 1Official English index name, index code, ISIN, and third-party data-vendor tickers were not printed.
- 2Launch date, base date, base value, calculation currency, methodology version, and methodology date were not stated.
- 3Calculation agent, intended use, benchmark regulation status, and stated index limitations were not provided.
- 4No explicit minimum listing-history rule was stated beyond the shorter-history treatment in the 12-month turnover test.
- 5No numeric minimum free-float percentage, foreign room requirement, voting-rights requirement, minimum share price, or abnormal-price-increase screen was stated.
- 6The exact treatment of suspended securities at periodic reviews was not separately stated, apart from the universe exclusion and replacement-share exception.
- 7The provided text contains a possible typo in the universe sentence ('上櫻普通股'); the quote uses the exact document text, while the neutral rendering interprets it as '上櫃普通股' based on context.
- 8Domestic inclusion factor treatment is not stated.
- 9Foreign ownership limit treatment is not stated.
- 10Group, sector, and country caps are not stated.
- 11Cap application timing is not explicitly stated beyond the weight-cap rule itself.
- 12Shares outstanding source and divisor adjustment rules are not stated.
- 13No announcement timing or publication channel for scheduled review results is stated.
- 14No explicit fast-entry rule for large new listings is stated.
- 15No specific ad-hoc deletion triggers such as delisting, suspension, acquisition, bankruptcy, free-float drop, or extreme price are stated; the section only references the separate corporate-action guide.
- 16No deletion price is stated.
- 17No threshold for interim share-count or free-float changes is stated.
- 18No size-segment buffer or relaxed liquidity threshold for existing constituents is stated.
- 19Weight-reset frequency is inferred from the semi-annual review transition; a separate explicit reset rule is not stated.
- 20Calculation returns.precision: no number of decimal places for the published index level was stated in M9 or M10.
- 21Withholding tax basis: no withholding-tax rate or net-return tax basis was stated; only price and total return variants were identified.
- 22Market disruption rule: no rule for market closure, trading suspension or market disruption was stated.
- 23Recalculation policy: no policy for correcting or restating published index levels was stated.
- 24Divisor adjustment: the text refers to corporate-action/constituent adjustments but does not enumerate the specific event types.
- 25Discretion points: no specific situations permitting administrator discretion were stated.
- 26Methodology review frequency: no frequency for reviewing the methodology itself was stated.
- 27External review: no external review procedure was stated.
- 28Material change definition: no definition of a material methodology change was stated.
- 29Consultation procedure: no consultation procedure was stated.
- 30Notice period: no advance notice period for methodology or constituent changes was stated.
- 31Error correction policy: no error correction or restatement policy was stated.
- 32Change announcement: the document mentions real-time information transmission and daily publication but does not identify disclosure channels beyond the calculation arrangement.
- 33Constituents published: no explicit statement on whether or how often a constituent list is published was provided.
- 34Cessation policy: no index discontinuation or cessation policy was stated.
- 35Not 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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