Disposition measures: how Taiwan exchanges cool down abnormal moves
Disposition is specific to the Taiwan stock market; US, Japanese, and Korean markets have no equivalent. A disposition changes how a stock is matched, not what an exchange thinks a company is worth. Knowing the rule tells you what to check when a symbol appears on the list.
A Taiwan-only mechanism
The rules are the TWSE "Operating Procedures for Publishing or Notifying Attention Trading Information and Disposition Measures", with a counterpart of the same name at the TPEx for over-the-counter stocks. This graduated attention-then-disposition design is particular to Taiwan; other markets have volatility interruptions or trading halts, but they are triggered differently and do not map onto it. Everything on this page therefore applies only to TWSE- and TPEx-listed stocks.
How a disposition is triggered
A stock is first announced on the attention list under clauses covering price move, volume, turnover, and day-trading share. Repeated attention flags within a short window accumulate until they reach the count the procedures specify, at which point the stock is announced as a disposition security. Article 6 sets out the accumulation, with separate thresholds for clause 1 alone and for clauses 1 through 8 combined. TWSE and TPEx publish separately, each with the disposition period and the measure applied.
What changes during the period
The usual measure is a switch to periodic call auction matching, together with advance collection of the full purchase amount or the securities to be sold once an order reaches a set size; margin trading limits or a suspension are also possible. What they share is a lower matching frequency, which can widen spreads, make fills less certain, and affect whether a stop order executes. The specific number of days and the matching interval are set by the procedures and revised from time to time—an amendment in August 2026, for instance, shortened both. Any figure written into an explainer can go out of date, so the exchange's disposition notice for that symbol governs.
Tracking it in Insightr
The disposition monitor refreshes the TWSE and TPEx lists daily and flags the day a period ends. The near-disposition watch estimates a next-day threshold price—the "redline"—from consecutive attention days and the close: how much further a rise would trip clause 1. That estimate covers clause 1's price-move condition only; it does not model ex-rights adjustments, relative-move corrections against the index or the sector, or the various exclusions. Both are research leads, not advice.