I O N A S S O C I A T S E C U R I T I E S 中華民國一百年四月出版 100 T A I W A N 100

3 29 200 99

100- CONTENTS 100 03 10 14 17 20 II 24 31 37 41 47 51 54 58 62 64 67 70 71 76 79

3 7100 3 29 3 7 3 29 100 26 530 1 2,4525 6 2,260 (100) 1 27 5 Ⅱ

3-4 1 6,000 3 2 100%ETF ETF Ⅲ

100 - Ⅳ

100-- 2011 (2010) 10.82% (Double Egg) (sell side) (buy side) (CFD)

2 2011 TAIWAN SECURITIES ASSOCIATION

100 3 ( )30 70 3 7 99 10 28 ( ) 97 97 3 ( ) 97 7 98 1 100 3 26 (TDR)6 114 10 TDR7 ( ) 78

2011 TAIWAN SECURITIES ASSOCIATION 4 ( ) 90165 102()2,680 1,340 ( ) 94 ( ) ( ) ( ) 99 12 22 ( ) 10 1060% 30% 10% 55% 2 ( ) ( ) ( ) ( ) ( ) ( ) ( )

100 5 146 100 3 18 ( ) ( ) ( ) ( ) ( ) ( ) 1. 100 9 30 100 12 31 100 100 12 31 100 12 31 2. 3 612 11 5 7 100 2 25 100 3 22 ( ) ( ) 100500 ( ) 2 91 2 6436 438 ( )

6 2011 TAIWAN SECURITIES ASSOCIATION 99 9 1 ( ) ( ) TDR ( ) TDR TDR TDR TDR ( ) TDR TDR TDR 100 ( ) TDR

100 7 (IFRSs) 98 5 14 IFRSs (Roadmap) 102 IFRSs 101 104 IFRSs 102 IFRSs IFRSs IFRSs IFRSs IFRSs XBRL ( ) 99 9 XBRL99 1,536 ( ) 100 4 99 XBRL XBRL XBRL IFRS XBRL 98 9 28 100 2

2011 TAIWAN SECURITIES ASSOCIATION 8 (100) 99 3 2 9 7 9 14 100 2 22 FIX4.2 FIX4.3 FIX4.4 TMP TMP2 5,000-1 2,000 PVC( ) 7,500 ECFA

100 9 ( 40%) (10% 30%) (ETF) 99 9 3 ( ) KYC KYP

10 2011 TAIWAN SECURITIES ASSOCIATION (NYSE Euronext)(Double Egg) (sell side) (buy side) - (IPO) 2010 12 12 ( )2010IPO 12 9 S-chips( )IPO12 19 IPO 2010 11 () 20% 2010 12 20 (HDR) 12 20 2011 2010 12 IPO IPO 12 14 IPO () 2010 784 ( TDR)32 4.08%

100 11 (A) (B) (A/B) AIM 45 224 1,196 4% NYSE 86 513 2,318 4% NASDAQ 169 295 2,800 6% TSE 2 12 2,291 0% KRX 12 17 1,792 1% HKEx 264 17 ( 2) 1,397 19% SGX 157 ( 1) 317 784 20% Bloomberg Yahoo Finance WFE AIM WFE AIM 1. SGX 2010 11 157111 (10) 2. 2010 9 23 10 18 61 2011 1 10 201120 TDR 2 17 S-chips 2008 2008 TDR2008 7 2009 TDR IPO ( ) 2009 4 28 TDR ( ) 2009 12 31 TDR 2010 TDR IPO (IML) 2010 5 18 IPO ( ) 2010 9 8 TDR (TPK) 2010 10 29 IPO 2011 TDR IPO ( ) 2011 2 25 TDR 2011 3 26 27 (TDR) TDR 2011 15 237 15 351 25 73

12 2011 TAIWAN SECURITIES ASSOCIATION 2007 2008 2009 2010 % % % 2,273 421 18.52 3,011 415 13.78 2,327 495 21.27 2,317 513 22.14 3,307 719 21.74 3,096 681 22.00 3,088 618 20.21 2,966 604 20.36 2,414 25 1.04 2,390 16 0.67 2,335 15 0.64 2,292 12 0.52 * 1,241 9 0.73 1,261 10 0.79 1,319 11 ( 2) 0.83 1,413 17 ( 2) 1.20 762 290 38.06 767 312 40.68 773 314 40.62 778 317 40.75 1,757 2 0.11 1,793 4 0.22 1,788 10 0.56 1,798 17 0.95 698 5 0.72 722 4 0.55 755 14 1.85 784 32 4.08 WFE(http://www.world-exchanges.org) 1. 2. 2009961 72.86% WFE11 % ( ) (IFRS) 10 10 (TDR) TDR ( )

100 13 IT 2010 51.8% 2010 10 28 IT 15 2013 9

14 2011 TAIWAN SECURITIES ASSOCIATION ( ) 99 99 564 ( )1 9,846 5 6,336 224 98546 1 9,1425 2,386 209 99 98 99 285 8,086 2,381 9.5 98 223 5,1761,687 6.7 9998 996 3,331 98% 985 9,353 6.70% 99 76 7,157 52 9,890 23 7,267 98

100 15 71 8,894 6.71% 99 ( ) 8,84198 7,68015.12% (Service) (Openness) (Efficiency) (Innovation) (Trust) (Co-petition) 100 1567 =>12 =>8 => 19 =>9 =>5 => 14

16 2011 TAIWAN SECURITIES ASSOCIATION IPO IPO

100 17-1998 201012 1999107 20101 3,979 128 () 2010 () (TX) (MTX) (TXO) 96% ( ) 99% 2003 1 20 2010 1 25 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 1,078 1,927 4,351 7,944 31,875 59,146 92,660 114,603 115,151 136,720 135,126 139,793 1999-2010

18 2011 TAIWAN SECURITIES ASSOCIATION 1% 1% 18% 1% 1% 10% 68% 2010 ( ) (Contract For Difference, CFD) ( ) (CFD) 40

100 19 ( )

20 2011 TAIWAN SECURITIES ASSOCIATION (1) (2) (QE2) QE3 (3) (4) ECFA(100) 1 1 (5) 32 (6) (7) ( ) ETF

99 21 ( ) ETF ( ) ECFA 32 ECFA 32 5 51 ETF ( ) 7.66 LED 50% 10% 25% 17% 32 ECFA ( ) ( ) ( ) 98 7 9970% 96.7%100 3 4 97.65% 97.17%( ) 100% ( ) ETF ( ) ( ) 99 12 25

22 2011 TAIWAN SECURITIES ASSOCIATION 98.9%( 520) 1.1% 7 4 ( ) 8 ( ) 21 13 9998 82% 6,000 ( ) 101 100 ( ) ( ) e ECFA ( )

2010 (AUM) (PE)

2011 TAIWAN SECURITIES ASSOCIATION 24 10 (Asset (CFP) Under Management, AUM) 2006 2008 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 Mar-06 Sep-06 Mar-07 Sep-07 Mar-08 Sep-08 Mar-09 Sep-09 Mar-10 Sep-10 NTD

100 25 2010 2005 7 2008 (Introducing Broker, IB) IB 0 200 400 600 800 1,000 1,200 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 NTD

2011 TAIWAN SECURITIES ASSOCIATION 26 (2000-2010 ) 227 (2010758 ) 2010 28.892000 7% 2.6 1.8 1,023 2.4( 2011 2 ) 758 741 531 584 638 669 697 691 688 698 718 300 400 500 600 700 800 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 0 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

100 27 Michael E. Porter 1980( ) ( ) ( ) ( ) AUM ( ) ( ) ( ) ( ) Michael E. Porter

28 2011 TAIWAN SECURITIES ASSOCIATION ( ) ( ) ( ) 2010 44 200072% 195 2015 315 10 60% 35% Osama Abbasi ( ) ( ) 1. 2009 30% 47.7( 100 ) 2. 300 2009 3,000 19,600 500-3,000 240,900 100-500 2,761,900 -

100 29 3. MOU (Lanchester s Law) ( ) 1998 2002 IT + 24 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 24 ( ) ( ) ( ManAHL )

2011 TAIWAN SECURITIES ASSOCIATION 30 ( ) 2008 ( ) 2011 2014 CFP AUM ( )

100 31 (Derivative Financial Products) (

32 2011 TAIWAN SECURITIES ASSOCIATION ) ( ) ( ) 2 3 Bank of International Settlement(BIS) (/0.98 1.37 )2008 22 2008 ( )4,000 40 ( ) 17 640 ( ) 4 ( ) 2 16 6 2 3 200922.980.282008 35.05 0.84 4

100 33 0.000125-0.6 1-6 0.000125-0.0025 0.000125-0.6 1-6 6-40 17 ( ) ( )

34 2011 TAIWAN SECURITIES ASSOCIATION 5 ( ) ( ) 5 (2010) 576 42

100 35 ( ) ( ) ( ) ( ) (Organization for Economic Co-operation and Development, OECD) 2001 1. (Neutrality and Equity) 2. (Simplicity and Lower Compliance Costs) 3. (Certainty) 4. (Robustness)

2011 TAIWAN SECURITIES ASSOCIATION 36 ( 40% 60% 20%) ( ) ( ) 2009 3 10 ( - )

100 37 2009 4 2660 (MOU) 2010 6 29(ECFA) (Private Equity(PE)Venture Capital(VC) ) 2011-2015 PE PE 1 PE 1

38 2011 TAIWAN SECURITIES ASSOCIATION 2 2009 PE PE 3 2009 7 PE (Limited Partner, LP) PE / / PE PE (General Partner, GP) 2010 8 () 9 ( ) () 2 3 43

100 39 5 ( ) () PEPE PE PE QFLP QFLP(Qualified Foreign Limited Partner )QFLP 30PE PE QFLP PE PE PE PE PEIPO-- 2010 10 2008 2010

2011 TAIWAN SECURITIES ASSOCIATION 40 35.94 2010 10 14 360127 715 152 34 927.11 66.11 2010 35.94 2009 10 302010 9 30 1 1,948.64 52.8 9.53 2.133.32 2010 9 30 123 1162008 94.30 2009 58 8.23 6.6 2008 5.76 14.58 PE ( )

100 41 ( ) ( ) (Algorithmic Trading) ( ) ()

42 2011 TAIWAN SECURITIES ASSOCIATION ( ) 1 (High Frequency Trading HFT) ( Flash Order)(Millisecond) (Co-Location) (Proximity Hosting Services) (Latency) () Christian A. Katz 2 2010 56% 38% 35 200 2010 5 6 (Flash Crash) (SEC) 1 99.12.10 (IOSCO)2010 25-27 2 99.12.06 26 31 9

100 43 SEC CFTC (Stub Quote) 2010 6 28 (Call Auction) ( ) 2010 6 28 20 (Continuous Trading) ( ) (Algorithmic Trading) (High-Frequency Trading ) (Co-Location) (Proximity Hosting Services)

2011 TAIWAN SECURITIES ASSOCIATION 44 (Latency) (20 ) ( ) ( ) (Millisecond) (Latency) ( ) () 2010 6 23 51 5253 53 ()

100 45 ( ) () ()

20 7912,682 2,485 96 97

100 47 () 51 2 9 70 80 77 5 19 ( ) 77 79 77 4,400 79 2 12,682 26. 78 19 79 2 2 12,00010 2,485 10,000

2011 TAIWAN SECURITIES ASSOCIATION 48 80 77 84 10%. 77 ( ) 77 85

100 49 86( ) ECFA ( ) (ROE) ( ) 95 97 8794 ( ).

50 2011 TAIWAN SECURITIES ASSOCIATION 7779 ( )

100 51

52 2011 TAIWAN SECURITIES ASSOCIATION 1. 2. 3. 4. 5. 6. 7. 8. 1. 2. 3. 4. 5. ( )

100 53 ( )

54 2011 TAIWAN SECURITIES ASSOCIATION ( ) ( ) 99 12 28100 1 10 ( ) 15 100 3 30 100 5 ( ) 100 2 21 78 ( ) 99 9 3

100 55 100 3 28 ( ) 100 3 3 100 2 13 3 ( ) 100 1 6 ( ) 100 1 18 ( ) 18 100 2 1 ( ) IPO TDR 99 12 22( ) ( )(IPO) 30% 60% (TDR) 35%

56 2011 TAIWAN SECURITIES ASSOCIATION 50% 100 6 1 ( ) IPO 75% ( ) () 100 2 14 ( ) IPO 99 12 22( ) 30% ( ) 100 100 1 28 ( ) 99 12 21 ( ) () 56 ( ) 100 2 16 1000005270 1. 1100 119 2. 2 100

100 57 100 3 10 1000007196 100 3 18 1000005114 10 20 ( ) ( ) 100 1 271 26 ( ) 100 1 2509900739072 ( ) 100 1 21 19 100 2 25 1. 46 2. 514 16 3. 8 4. 12 ()

58 2011 TAIWAN SECURITIES ASSOCIATION ( ) () () ( ) ( ) ( ) 943 ( ) - ( ) () ( ) 15 1 ( )

100 59 ( ) ( ) ETF ETF ( ) TDR ( ) ( ) ( ) 10% ( ) 97 99 ( ) 33 ( 142 ) 75% ( ) 19 ( ) 50%

60 2011 TAIWAN SECURITIES ASSOCIATION ( ) TDR TDR 100% TDR TDR TDR TDR 100% ( ) 1. 2. ( ) () ( ) 15 (ECB) 99 7 13 0990020823

100 61 ETF 19-22

62 2011 TAIWAN SECURITIES ASSOCIATION ( ) 100 1 18 100 2 22 ( ) 1. 2. ( ) 100 3 29 99 1. 99 99 ECFA 99 99 9 3227 IPO

100 63 99 56 99 2. 99 99 99

64 2011 TAIWAN SECURITIES ASSOCIATION 1 1829 14 15 2 661 5653 2218 27 () 3 22 314 9144 1 182795 3 13 0950001096 (1) 96,526 ( ) () () 300 (2) 100% FB BVI (3) (4) 98 79 ( )2 4 98 3 (5)

100 65 4 97 6 1798 9 14 111 5 56314 311 96 797 12 6 6 22 3713 98 5 15 7 5622 4 1231 1 42 111121 7 (1) (2) (3) (4) 97 11198 10 5 8

66 2011 TAIWAN SECURITIES ASSOCIATION 9 22 98 99 3 10 22 3713 312 121 1821 19 4 221 15 296 7 11 09600340632 95 3 13 0950001096 (1) (2) (3) (4) 100% 98 99

100 67 01 04 01 14 01 20 01 21 01 26 01 28 01 30 02 08 02 09 02 11 02 14 (100)60 91 (TDR) 20 100 1 17 15 TDRTDR TDR TDR 10%20% TDR TDR TDR () 100 852 100 7 100% (ECFA) QFII (100) 6 1IPO TDR

68 2011 TAIWAN SECURITIES ASSOCIATION 02 22 02 24 02 24 03 01 03 01 03 01 03 01 03 03 03 10 03 11 03 15 03 15 ( ) 100 (101) (99) ISO20000 ISO/IEC ISO20000ISO20000 TDR 30 60 59 10 10 (IOSCO) A

100 69 03 16 03 28 03 29 03 30 TDR TDRTDR (100) 1 26 100 3 15 / -- 100 1 18 -- 100 1 18 -- 100 1 18 100 1 18

70 2011 TAIWAN SECURITIES ASSOCIATION 01 04 01 07 01 13 02 15 02 16 02 21 03 14 03 15 03 16 2011 J.P. Morgan() Morgan Stanley( ) 0.25 2.75% 7 11 219 (NYSE Euronext) (Deutsche Boerse AG) 15 28% (FTA)4 10 94% ()0.5 G20 19.5-20% 12 5,000 2013 11 8.9()14 12 1510.6% 1 3 2 4 20

100 71 ( ) ( ) 100 1 100 2 100 3 100 1 1 30,983,061,791 21,906,757,994 36,097,304,108 88,987,123,893 2 518,561,450 290,217,917 593,072,644 1,401,852,011 3 10,225,863,408 7,417,100,808 7,425,690,965 25,068,655,181 4 5,677,804,222 3,157,583,524 5,028,656,213 13,864,043,959 5 14,708,065 1,110,630 15,771,758 31,590,453 6 2,428,793,171 2,083,203,785 2,162,919,566 6,674,916,522 7 0 0 0 0 8 794,961,883 349,886,883 585,242,811 1,730,091,577 9 248,511,628 1,407,796,272 1,238,580,876 2,894,888,776 10 0 0 0 0 11 0 0 0 0 12 0 0 0 0 13 0 0 0 0 14 0 0 0 0 15 3,186,192 30,875 790,753 4,007,820 16 0 0 0 0 17 5,969,522,749 3,483,449,689 4,829,427,060 14,282,399,498 18 37,930,480 16,431,672 21,690,766 76,052,918 19 3,646,910,740 2,403,938,985 6,309,244,003 12,360,093,728 20 257,592,572 279,660,137 583,029,760 1,120,282,469 21 55,752,857 51,584,140 45,846,027 153,183,024 22 81,188,023 34,644,200 38,950,851 154,783,074 23 1,874,745,087 1,441,483,015 4,135,892,386 7,452,120,488 24 犇 0 0 0 0 25 220,104 0 3,517,844 3,737,948 26 0 0 0 0 27 766,562 514,504 4,649,026 5,930,092 28 267,467,923 128,134,453 258,523,560 654,125,936 29 0 0 0 0 30 0 0 0 0 31 33,178,863 47,506,280 77,715,501 158,400,644 32 0 0 0 0 33 0 0 0 0 34 3,189,256 1,232,435 3,644,778 8,066,469 35 0 0 0 0 36 5,507,309,021 1,068,521,359 1,228,178,353 7,804,008,733 37 6,206,423 5,224,988 7,595,414 19,026,825 38 0 0 0 0 39 5,774,948,013 3,923,544,842 6,118,953,489 15,817,446,344 40 15,173,206 26,816,285 8,638,155 50,627,646 41 4,378,082,973 2,600,606,078 4,408,539,537 11,387,228,588 42 3,971,560,422 2,722,065,829 3,697,868,422 10,391,494,673 43 8,027,881,829 5,482,216,867 6,711,151,375 20,221,250,071 NT$90,805,078,913 NT$60,331,264,446 NT$91,641,086,001 NT$242,777,429,360

72 2011 TAIWAN SECURITIES ASSOCIATION ( ) ( ) 100 1 100 2 100 3 100 1 378,207,047.41 297,310,610.15 375,923,370.79 1,051,441,028.35 34,788,723.31 33,721,347.59 37,357,285.06 105,867,355.96 0.00 0.00 0.00 0.00 ETF 408,433,761.56 263,241,372.98 467,280,275.71 1,138,955,410.25 4,889.90 397,124.82 12,716.73 414,731.45 6,253,895.68 6,492,731.58 9,882,439.39 22,629,066.65 77,271.90 29,280.00 120,004.26 226,556.16 18,128,335.85 2,639,036.30 10,653,701.72 31,421,073.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ETF 0.00 0.00 7,920.03 7,920.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15,747,721.23 11,342,246.84 10,211,073.62 37,301,041.69 158,825,902.25 4,228,918.70 8,478,121.39 171,532,942.34 0.00 0.00 0.00 0.00 ETF 785,612.33 1,118,458.29 1,466,270.60 3,370,341.22 0.00 29,224.07 102,662.43 131,886.50 170,259.54 0.00 63,292.13 233,551.67 0.00 0.00 0.00 0.00 0.00 0.00 98,895.25 98,895.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ETF 0.00 0.00 0.00 0.00 6,433,726.94 3,549,548.87 6,414,282.75 16,397,558.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 100,075.00 0.00 0.00 100,075.00 0.00 0.00 279,890.48 279,890.48 0.00 0.00 0.00 0.00 ETF 0.00 0.00 0.00 0.00 1,087,774,764.29 748,883,366.81 1,242,689,414.71 3,079,347,545.81 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 21,940,914.73 9,179,437.20 8,979,072.22 40,099,424.15 1,286,021.26 866,917.49 1,117,293.21 3,270,231.96 0.00 0.00 0.00 0.00 ETF 2,519,930.94 1,433,552.10 3,974,804.51 7,928,287.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

100 73 100 1 100 2 100 3 100 1 19,267,475.32 9,019,643.43 7,214,374.81 35,501,493.56 11,000,596.74 861,072.87 1,781,964.99 13,643,634.60 0.00 0.00 0.00 0.00 ETF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 388,234,073.43 256,611,625.08 464,960,835.41 1,109,806,533.92 832,360.54 24,879,510.00 25,884,080.97 51,595,951.51 0.00 0.00 0.00 0.00 ETF 89,407,194.93 29,321,846.22 79,993,115.76 198,722,156.91 372,632,255.06 256,851,893.60 271,879,760.70 901,363,909.36 0.00 0.00 0.00 0.00 6,315,463.15 3,405,580.07 4,827,911.62 14,548,954.84 13,245,924.39 12,290,302.96 25,286,283.11 50,822,510.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ETF 116,496.63 0.00 0.00 116,496.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 22,040,475.09 32,984,911.32 24,374,229.91 79,399,616.32 0.00 0.00 87,440.00 87,440.00 0.00 0.00 0.00 0.00 ETF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9,229,661.08 11,793,095.22 14,016,050.55 35,038,806.85 0.00 0.00 515,000.00 515,000.00 0.00 0.00 0.00 0.00 ETF 74,625.00 0.00 0.00 74,625.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 792,525.10 186,732.83 739,214.52 1,718,472.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ETF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

74 2011 TAIWAN SECURITIES ASSOCIATION 100 1 100 2 100 3 100 1 1,251,596.02 2,250,547.08 393,528.70 3,895,671.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ETF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9,807,969.61 2,332,915.97 5,144,911.08 17,285,796.66 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ETF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 77,583.94 918,846.60 77,108.72 1,073,539.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ETF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,262,329.22 1,262,329.22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ETF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 US$3,085,805,130.13 US$2,028,171,697.04 US$3,113,550,927.06 US$8,227,527,754.23 628,361 637,665 647,480 741 744 747 1,457 1,500 1,561 630,559 639,909 649,788

100 75 ( ) ( ) 100 1 100 2 100 3 100 1 ETF 378,207,047.41 297,310,610.15 375,923,370.79 1,051,441,028.35 18,128,335.85 2,639,036.30 10,653,701.72 31,421,073.87 15,747,721.23 11,342,246.84 10,211,073.62 37,301,041.69 0.00 0.00 98,895.25 98,895.25 100,075.00 0.00 0.00 100,075.00 21,940,914.73 9,179,437.20 8,979,072.22 40,099,424.15 19,267,475.32 9,019,643.43 7,214,374.81 35,501,493.56 388,234,073.43 256,611,625.08 464,960,835.41 1,109,806,533.92 13,245,924.39 12,290,302.96 25,286,283.11 50,822,510.46 22,040,475.09 32,984,911.32 24,374,229.91 79,399,616.32 9,229,661.08 11,793,095.22 14,016,050.55 35,038,806.85 792,525.10 186,732.83 739,214.52 1,718,472.45 1,251,596.02 2,250,547.08 393,528.70 3,895,671.80 9,807,969.61 2,332,915.97 5,144,911.08 17,285,796.66 77,583.94 918,846.60 77,108.72 1,073,539.26 0.00 0.00 1,262,329.22 1,262,329.22 898,071,378.18 648,859,950.98 949,334,979.63 2,496,266,308.79 34,788,723.31 33,721,347.59 37,357,285.06 105,867,355.96 158,825,902.25 4,228,918.70 8,478,121.39 171,532,942.34 0.00 0.00 279,890.48 279,890.48 1,286,021.26 866,917.49 1,117,293.21 3,270,231.96 11,000,596.74 861,072.87 1,781,964.99 13,643,634.60 832,360.54 24,879,510.00 25,884,080.97 51,595,951.51 0.00 0.00 87,440.00 87,440.00 0.00 0.00 515,000.00 515,000.00 206,733,604.10 64,557,766.65 75,501,076.10 346,792,446.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 408,433,761.56 263,241,372.98 467,280,275.71 1,138,955,410.25 0.00 0.00 7,920.03 7,920.03 785,612.33 1,118,458.29 1,466,270.60 3,370,341.22 2,519,930.94 1,433,552.10 3,974,804.51 7,928,287.55 89,407,194.93 29,321,846.22 79,993,115.76 198,722,156.91 116,496.63 0.00 0.00 116,496.63 74,625.00 0.00 0.00 74,625.00 501,337,621.40 295,115,229.59 552,722,386.61 1,349,175,237.60 4,889.90 397,124.82 12,716.73 414,731.45 0.00 29,224.07 102,662.43 131,886.50 6,433,726.94 3,549,548.87 6,414,282.75 16,397,558.56 1,087,774,764.29 748,883,366.81 1,242,689,414.71 3,079,347,545.81 372,632,255.06 256,851,893.60 271,879,760.70 901,363,909.36 1,466,845,636.19 1,009,711,158.17 1,521,098,837.32 3,997,655,631.68 6,253,895.68 6,492,731.58 9,882,439.39 22,629,066.65 170,259.54 0.00 63,292.13 233,551.67 6,424,155.22 6,492,731.58 9,945,731.52 22,862,618.32 77,271.90 29,280.00 120,004.26 226,556.16 6,315,463.15 3,405,580.07 4,827,911.62 14,548,954.84 6,392,735.05 3,434,860.07 4,947,915.88 14,775,511.00 US$3,085,805,130.13 US$2,028,171,697.04 US$3,113,550,927.06 US$8,227,527,754.23

76 2011 TAIWAN SECURITIES ASSOCIATION ( ) 90 52 163 3 7 91 113 211 2 4 92 126 128 1 2 93 205 130 2 7 94 102 92 0 9 95 111 99 0 11 96 185 122 0 13 97 86 61 1 1 98 127 101 0 1 99 190 140 0 3 100Q1 52 40 0 0 ( ) 1001 ( ) ( ) (%) 1 900 12 10,800,000 100.01.04 1.97 2 360 57 20,520,000 100.01.04 0.32 3 942 28 26,376,000 100.01.05 0.77 4 1,275 35 44,625,000 100.01.05 1.38 5 789 120 94,680,000 100.01.05 0.65 6 1,455 64 93,120,000 100.01.05 1.22 7 1,083 19 20,577,000 100.01.06 1.41 8 2,550 10 25,500,000 100.01.07 4.31 9 2,700 10 27,000,000 100.01.10 4.20 10 425 115.80 49,215,000 100.01.10 0.56 11 510 62 31,620,000 100.01.11 0.43 12 2,700 70 189,000,000 100.01.18 1.70 13 TDR 8,550 11.20 95,760,000 100.01.18 8.31 14 1,530 16 24,480,000 100.01.20 1.60 15 1,700 16.50 28,050,000 100.01.20 1.78 16 595 58 34,510,000 100.02.01 0.47 17 3,400 58.50 198,900,000 100.02.10 1.81 18 340 53 18,020,000 100.02.14 0.52 19 2,550 30 76,500,000 100.02.14 3.95 20 2,210 26 57,460,000 100.02.17 2.08

100 77 ( ) ( ) (%) 21 828 52 43,056,000 100.02.17 0.71 22 1,700 21.50 36,550,000 100.02.17 1.92 23 1,180 36 42,480,000 100.02.17 1.41 24 850 20 17,000,000 100.02.18 1.59 25 TDR 19,000 21.30 404,700,000 100.02.21 18.19 26 1,800 35 63,000,000 100.02.21 1.16 27 TDR 10,800 11.70 126,360,000 100.02.21 8.69 28 1,041 36 37,476,000 100.02.22 0.91 29 1,563 78 121,914,000 100.02.22 1.27 30 TDR 12,350 18.65 230,327,500 100.03.03 11.57 31 2,610 40 104,400,000 100.03.10 1.70 32 720 80 57,600,000 100.03.10 0.47 33 1,659 68 112,812,000 100.03.15 1.26 34 1,590 45 71,550,000 100.03.15 1.15 35 837 23.10 19,334,700 100.03.18 4.71 36 1,275 49 62,475,000 100.03.21 8.20 37 8,500 12.31 104,635,000 100.03.23 43.09 38 678 31.8 21,560,400 100.03.23 1.04 39 327 150 49,050,000 100.03.29 0.32 40 850 235 199,750,000 100.03.31 1.15 ( )1001 1 3,023 2,234 99.12.29-100.01.03 115-125 2 4,450 3,175 99.12.29-100.01.03 30-40 3 3,611 2,669 99.12.29-100.01.03 26-29 4 5,509 4,054 99.12.29-100.01.03 60-68 5 4,142 3,059 99.12.30-100.01.04 18.80-22 6 6,000 5,400 100.01.03-100.01.04 101-110% 7 50,000 45,000 100.01.03-100.01.04 101-115% 8 6,000 5,700 100.01.04-100.01.05 101-105% 9 1,740 1,230 100.01.04-100.01.07 55-62 10 8,000 7,050 100.01.05-100.01.07 101-110% 11 15,000 14,250 100.01.05-100.01.07 101-110% 12 12,000 10,800 100.01.05-100.01.07 101-105% 13 3,000 2,603 100.01.10-100.01.11 101-110% 14 2,000 1,800 100.01.10-100.01.11 101-110%

78 2011 TAIWAN SECURITIES ASSOCIATION 15 3,500 3,100 100.01.10-100.01.12 101-105% 16 1,500 1,350 100.01.11-100.01.12 101-110/% 17 ( ) 8,000 6,917 100.01.11-100.01.12 103-110% 18 ( ) 4,000 3,600 100.01.11-100.01.12 101-110% 19 9,100 6,400 100.01.11-100.01.14 65-80 20 TDR 90,000 76,950 100.01.11-100.01.14 10-12 21 5,000 4,283 100.01.14-100.01.17 101-110% 22 5,000 4,600 100.01.17-100.01.18 101-105% 23 3,500 3,325 100.01.21-100.01.25 101-105% 24 7,500 6750 100.01.24-100.01.25 101-110% 25 2,500 2,250 100.01.24-100.01.26 101-110% 26 3,000 2,598 100.01.26-100.01.28 101-110% 27 5,000 4,250 100.02.08-100.02.09 101-110% 28 3,174 2,346 100.02.10-100.02.15 48-54 29 TDR 80,000 61,200 100.02.14-100.02.17 11-13 30 TDR 200,000 171,000 100.02.14-100.02.17 19.50-26 31 6,596 4,796 100.02.14-100.02.17 34.11-35 32 ( ) 3,000 2,700 100.02.15-100.02.16 101-110% 33 6,000 5,300 100.02.15-100.02.16 101-110% 34 5,367 3,804 100.02.15-100.02.18 75-80 35 3,991 2,950 100.02.15-100.02.18 32-40 36 3,000 2,684 100.02.16-100.02.16 101-110% 37 ( ) 5,000 4,500 100.02.16-100.02.17 101-110% 38 25,000 21,250 100.02.16-100.02.18 105-125% 39 TDR 130,000 11,150 100.02.23-100.03.01 18.50-20 40 10,000 8,500 100.03.01-100.03.02 101-110% 41 9,099 6,489 100.03.03-100.03.08 39-45 42 33,120 30,470 100.03.04-100.03.09 57.70-63.30 43 10,000 8,500 100.03.08-100.03.09 110-115% 44 5,800 4,141 100.03.08-100.03.11 68-90 45 5,829 4,239 100.03.08-100.03.11 42-45 46 3,000 2,550 100.03.10-100.03.14 101-110% 47 2,200 1,980 100.03.11-100.03.14 101-110% 48 9,364 8,527 100.03.11-100.03.16 23.10-35 49 ( ) 4,000 3,700 100.03.16-100.03.17 101-105% 50 ( ) 1,000 900 100.03.17-100.03.18 101-105% 51 2,596 1,918 100.03.16-100.03.21 31.20-38 52 1,252 925 100.03.22-100.03.25 148-155

100 79 ( ) (100 1-3 ) ( ) (%) EPS ( ) ROE (%) (%) ( ) 84 108,095,959 100,856,512 7,239,447 343,380,449 495,160,895 6.70 0.211 1.46 100.00 14.420 47 105,754,649 99,307,119 6,447,530 330,428,056 468,058,601 6.10 0.195 1.38 97.83 14.165 37 2,341,310 1,549,393 791,917 12,952,393 27,102,294 33.82 0.611 2.92 2.17 20.925 67 101,080,243 95,306,474 5,773,769 323,034,239 452,719,285 5.71 0.179 1.28 93.51 14.015 34 100,237,411 94,588,345 5,649,066 313,451,846 436,363,297 5.64 0.180 1.29 92.73 13.921 33 842,832 718,129 124,703 9,582,393 16,355,988 14.80 0.130 0.76 0.78 17.069 17 7,015,716 5,550,038 1,465,678 20,346,210 42,441,610 20.89 0.720 3.45 6.49 20.860 13 5,517,238 4,718,774 798,464 16,976,210 31,695,304 14.47 0.470 2.52 5.10 18.670 4 1,498,478 831,264 667,214 3,370,000 10,746,306 44.53 1.980 6.21 1.39 31.888 20 20 96,658,741 90,942,782 5,715,959 279,314,637 396,056,643 5.91 0.205 1.44 89.42 14.180 20 57.16 1). 151 89 62 (2). 84 (3). Year-To-Month 100 1-3 100 4 15 (4). 3 ISM61.220 50 38.8% 367.5 3 11 9.0 3 PMI53.4 CPI 5.4% 4 5 CPI (5). 100 1-3 (TSE:1,293 /OTC:215 )99 (TSE:1,182 /OTC:255 ) 84EPS 0.211 0.1445826 8,599 8,6830.98% 100 1-3 EPS 0.195 0.611 EPS 0.720 EPS0.179 EPS 0.180 EPS 0.130 EPS 1.980 EPS 0.470 (6). 100 1-320 EPS 0.205 15 EPS0.418 20ROE 1.44%1.46% (7). EPS 7.453.333.03 犇 EPS -1.47-0.68-0.34 (8). 100 1-3 738693 19.5% 21.8% 2 M1B M2 3 126

80 2011 TAIWAN SECURITIES ASSOCIATION ( ) (100 1-3 ( ) ( ) ( ) () () ( ) 1 11,894,319 1 1,956,185 1 7.454 2 10,138,834 2 777,540 2 3.334 3 9,491,281 3 632,877 3 3.028 4 9,193,814 4 559,165 4 1.860 5 8,065,330 5 393,515 5 1.456 6 7,942,591 6 378,364 6 1.224 7 7,743,727 7 306,466 7 0.986 8 6,448,961 8 303,334 8 0.789 9 5,648,762 9 232,762 9 0.546 10 5,511,571 10 184,219 10 0.488 ( ) ( ) ( ) () () ( ) 1 11,894,319 1 1,956,185 1 3.028 2 10,138,834 2 777,540 2 1.860 3 9,491,281 3 632,877 3 1.456 4 9,193,814 4 559,165 4 1.224 5 8,065,330 5 393,515 5 0.986 ( ) ( ) ( ) () () ( ) 1 642,012 1 378,364 1 7.454 2 392,964 2 163,985 2 3.334 3 352,761 3 117,956 3 0.789 4 139,719 4 23,722 4 0.381 5 110,741 5 18,243 5 0.378 5.10% 1.39% 0.78% 92.73% 11.03% 9.22% 1.72% 78.03% 2.500 2.000 1.500 1.000 0.500 0.000 0.180 0.130 0.470 1.980 ()

100 81 ( ) (100 1-3 ( ) (%) EPS( ) ROE(%) (%) ( ) 1040 174,647 124,343 50,304 3,000,000 3,352,336 28.803 0.168 1.50 0.162 11.17 1090 1,437,899 1,314,491 123,408 4,509,765 5,377,489 8.583 0.274 2.29 1.330 11.92 1160 5,511,571 5,205,105 306,466 11,572,128 21,590,378 5.560 0.265 1.42 5.099 18.66 1260 308,957 317,128-8,171 4,568,388 4,389,329-2.645-0.018-0.19 0.286 9.61 1360 327,245 261,988 65,257 533,000 1,445,735 19.941 1.224 4.51 0.303 27.12 1400 35,569 57,556-21,987 150,000 1,092,362-61.815-1.466-2.01 0.033 72.82 1440 334,418 274,396 60,022 1,700,000 2,842,863 17.948 0.353 2.11 0.309 16.72 1470 276,488 204,804 71,684 1,468,210 2,022,718 25.927 0.488 3.54 0.256 13.78 1480 328,866 209,273 119,593 395,000 4,389,452 36.365 3.028 2.72 0.304 111.13 1530 264,912 162,596 102,316 550,000 2,118,171 38.623 1.860 4.83 0.245 38.51 1560 117,499 134,372-16,873 1,450,000 1,503,248-14.360-0.116-1.12 0.109 10.37 1570 2,356,656 2,327,935 28,721 1,010,000 1,589,959 1.219 0.284 1.81 2.180 15.74 1590 295,985 152,551 143,434 1,455,000 3,772,676 48.460 0.986 3.80 0.274 25.93 1650 353,410 169,191 184,219 1,265,000 2,411,635 52.126 1.456 7.64 0.327 19.06 2180 1,278,606 1,156,597 122,009 7,137,143 10,668,375 9.542 0.171 1.14 1.183 14.95 5050 129,703 156,754-27,051 2,325,836 3,533,897-20.856-0.116-0.77 0.120 15.19 5110 25,393 30,106-4,713 760,000 630,327-18.560-0.062-0.75 0.023 8.29 5180 170,515 199,395-28,880 4,165,000 2,639,200-16.937-0.069-1.09 0.158 6.34 5260 184,755 279,393-94,638 2,788,691 4,415,419-51.224-0.339-2.14 0.171 15.83 5270 11,894,319 11,500,804 393,515 23,057,225 28,615,804 3.308 0.171 1.38 11.003 12.41 5380 1,485,744 1,459,564 26,180 6,400,000 7,763,948 1.762 0.041 0.34 1.374 12.13 5510 10,138,834 9,988,965 149,869 13,969,020 22,855,609 1.478 0.107 0.66 9.379 16.36 5720 8,065,330 8,080,658-15,328 14,290,660 21,021,885-0.190-0.011-0.07 7.461 14.71 5820 553,923 611,656-57,733 10,827,764 10,541,962-10.423-0.053-0.55 0.512 9.74 5850 6,448,961 6,268,310 180,651 12,319,334 21,010,185 2.801 0.147 0.86 5.966 17.05 5920 9,491,281 9,258,519 232,762 14,965,926 20,003,877 2.452 0.156 1.16 8.780 13.37 6010 犇 135,839 213,325-77,486 1,137,554 1,597,894-57.043-0.681-4.85 0.126 14.05 6160 236,104 184,844 51,260 5,357,140 6,078,295 21.711 0.096 0.84 0.218 11.35 6480 52,656 66,835-14,179 2,000,000 1,858,510-26.928-0.071-0.76 0.049 9.29

82 2011 TAIWAN SECURITIES ASSOCIATION ( ) (100 1-3 ( ) (%) EPS( ) ROE(%) (%) ( ) 6530 433,188 429,162 4,026 3,911,918 4,850,639 0.929 0.010 0.08 0.401 12.40 6910 102,304 110,738-8,434 1,375,500 1,453,359-8.244-0.061-0.58 0.095 10.57 7000 3,835,547 3,532,213 303,334 11,600,000 15,217,480 7.908 0.261 1.99 3.548 13.12 7030 109,593 148,336-38,743 2,040,600 3,205,590-35.352-0.190-1.21 0.101 15.71 7790 1,877,286 1,925,127-47,841 8,270,789 9,616,484-2.548-0.058-0.50 1.737 11.63 8150 109,195 111,047-1,852 2,280,000 2,588,702-1.696-0.008-0.07 0.101 11.35 8450 1,292,151 1,378,716-86,565 6,816,422 7,967,457-6.699-0.127-1.09 1.195 11.69 8560 191,677 116,801 74,876 1,372,110 2,099,109 39.064 0.546 3.57 0.177 15.30 8700 82,274 69,421 12,853 3,000,000 3,589,941 15.622 0.043 0.36 0.076 11.97 8840 284,016 240,493 43,523 3,060,000 3,702,171 15.324 0.142 1.18 0.263 12.10 8880 1,475,189 1,418,835 56,354 3,700,000 4,379,501 3.820 0.152 1.29 1.365 11.84 8890 653,667 625,274 28,393 3,000,000 3,779,353 4.344 0.095 0.75 0.605 12.60 8960 90,249 69,417 20,832 1,000,000 1,137,191 23.083 0.208 1.83 0.083 11.37 9200 9,193,814 8,416,274 777,540 32,072,362 48,523,901 8.457 0.242 1.60 8.505 15.13 9300 2,273,334 2,156,958 116,376 8,111,743 11,908,569 5.119 0.143 0.98 2.103 14.68 9600 7,743,727 7,110,850 632,877 15,130,500 31,890,347 8.173 0.418 1.98 7.164 21.08 9700 7,942,591 7,383,426 559,165 21,385,195 29,034,136 7.040 0.261 1.93 7.348 13.58 9800 5,648,762 3,692,577 1,956,185 46,953,133 61,981,133 34.630 0.417 3.16 5.226 13.20 1380 392,964 228,979 163,985 220,000 1,265,551 41.730 7.454 12.96 0.364 57.53 1520 642,012 263,648 378,364 1,135,000 5,700,259 58.934 3.334 6.64 0.594 50.22 5320 65,481 47,238 18,243 478,555 1,061,471 27.860 0.381 1.72 0.061 22.18 5460 8,431 9,853-1,422 312,000 359,424-16.866-0.046-0.40 0.008 11.52 5600 58,785 52,104 6,681 400,000 833,414 11.365 0.167 0.80 0.054 20.84 5660 18,037 13,762 4,275 203,400 404,555 23.701 0.210 1.06 0.017 19.89 5690 15,407 12,012 3,395 280,000 548,346 22.035 0.121 0.62 0.014 19.58 5860 16,504 8,582 7,922 268,438 563,260 48.000 0.295 1.41 0.015 20.98 5870 21,912 14,360 7,552 200,000 570,569 34.465 0.378 1.32 0.020 28.53 5960 31,959 20,449 11,510 361,538 795,323 36.015 0.318 1.45 0.030 22.00

100 83 ( ) (100 1-3 ( ) (%) EPS( ) ROE(%) (%) ( ) 6210 9,617 12,759-3,142 235,400 288,935-32.671-0.133-1.09 0.009 12.27 6380 49,918 42,490 7,428 440,783 704,041 14.880 0.169 1.06 0.046 15.97 6450 44,301 31,094 13,207 419,528 774,259 29.812 0.315 1.71 0.041 18.46 6460 139,719 115,997 23,722 900,000 1,490,987 16.978 0.264 1.59 0.129 16.57 6620 3,168 3,416-248 200,000 112,371-7.828-0.012-0.22 0.003 5.62 6660 8,375 9,904-1,529 200,000 231,579-18.257-0.076-0.66 0.008 11.58 6950 19,962 15,239 4,723 255,000 493,329 23.660 0.185 0.96 0.018 19.35 7020 11,802 9,598 2,204 200,000 333,026 18.675 0.110 0.66 0.011 16.65 7070 10,146 7,485 2,661 200,000 375,470 26.227 0.133 0.71 0.009 18.77 7080 14,088 21,273-7,185 250,000 284,823-51.001-0.287-2.52 0.013 11.39 7120 2,786 6,525-3,739 200,000 107,457-134.207-0.187-3.48 0.003 5.37 7530 44,589 37,729 6,860 400,000 823,179 15.385 0.172 0.83 0.041 20.58 7670 18,587 17,254 1,333 300,300 417,026 7.172 0.044 0.32 0.017 13.89 7690 7,560 6,299 1,261 200,000 251,438 16.680 0.063 0.50 0.007 12.57 7750 23,637 24,869-1,232 269,451 350,434-5.212-0.046-0.35 0.022 13.01 7780 31,558 26,845 4,713 368,000 533,800 14.934 0.128 0.88 0.029 14.51 7900 7,898 9,375-1,477 238,000 321,133-18.701-0.062-0.46 0.007 13.49 8380 35,557 29,341 6,216 370,000 699,968 17.482 0.168 0.89 0.033 18.92 8440 352,761 234,805 117,956 1,495,000 2,998,305 33.438 0.789 3.93 0.326 20.06 8490 9,934 8,322 1,612 200,000 318,619 16.227 0.081 0.51 0.009 15.93 8520 15,756 12,590 3,166 200,000 481,837 20.094 0.158 0.66 0.015 24.09 8660 4,568 5,991-1,423 230,000 227,631-31.151-0.062-0.63 0.004 9.90 8710 23,281 22,661 620 302,000 275,161 2.663 0.021 0.23 0.022 9.11 8770 6,980 6,711 269 200,000 262,527 3.854 0.013 0.10 0.006 13.13 8800 39,744 32,563 7,181 320,000 793,861 18.068 0.224 0.90 0.037 24.81 8850 22,785 23,439-654 200,000 266,735-2.870-0.033-0.25 0.021 13.34 8900 110,741 103,832 6,909 520,000 782,191 6.239 0.133 0.88 0.102 15.04

268 8 2 (02)2737-4721 (02)2735-0822 http://www.twsa.org.tw

2 18 ECFA 3 2628 2011 2 8

熱誠. 專業. 效率. 創新 中華民國證券商業同業公會 TAIWAN SECURITIES ASSOCIATION 台北市復興南路二段 268 號 8 樓之 2 TEL: 02-2737-4721 FAX: 02-2735-0822 http://www.twsa.org.tw