The Taiwan Stock Exchange (TWSE) on Monday said that it would launch a trade-by-trade platform simulator next month for investors and securities agencies to become familiar with the new mechanism, which is to be implemented in March next year.
The new mechanism is designed to match each order immediately as it is made, with the possibility of creating multiple price points according to the amount of orders placed by investors, leading to higher trading frequency and potentially higher turnover, the TWSE said.
“The simulator, which will be available on the exchange’s Web site, is currently undergoing testing,” TWSE trading division director Ben Chen (陳正斌) told the Taipei Times by telephone.
“The simulator will be launched on March 25 and will be available from 2:30pm to 5pm during trading days,” Chen said.
The TWSE would update the simulator with the previous day’s trading information by 2:30pm, including closing price, turnover and sales volume.
“During the trial period, we will also update changes in the TAIEX and individual shares, so investors can see how the new mechanism works and differs from the current call auction mechanism,” Chen said.
“However, investors should know that any changes in shares prices in the simulator means nothing and does not reflect market confidence,” he added.
With the new trade-by-trade mechanism scheduled to come online on March 23 next year, investors and securities agencies will have one year to prepare for the new platform, the TWSE said.
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