‘PECULIAR’ PRACTICE: Chairman Wellington Koo said that the makeup sessions are not in line with global norms, but the central bank was against the proposal
Taipei Times
Date: Jun 08, 2018
By: Ted Chen / Staff reporter
The Financial Supervisory Commission (FSC) yesterday said that it could end the practice of opening Taiwan’s equity market on Saturdays to make up for lost trading sessions due to national holidays.
FSC Chairman Wellington Koo (顧立雄) said that the practice — which a few times each year leads to Taipei being the only equity market in the world that is open for trading — could be halted as soon as next year, depending on the opinions of the Taiwan Securities Association’s (券商公會) member brokerages.
A decision by the brokerage industry and regulators should begin to form toward the end of October, Koo said on the sidelines of a financial technology forum in Taipei.
“While most countries have national holidays that put a halt on trading, Taiwan’s Saturday trading sessions are peculiar and need to be examined to be more in line with global norms,” Koo said. [FULL STORY]