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The concentration custody statistics table for negotiable securities includes listed, OTC, and emerging stocks, beneficiary certificates, depositary receipts, warrant rights, and exchangeable corporate bonds (with a face value of NT100 per share). Unlisted (OTC) securities refer to negotiable securities other than listed (OTC) securities (including delisted, restricted, unlisted, and privately placed negotiable securities). The OTC securities and emerging stocks were included in the concentration custody system in December 1994 and December 2001, respectively. Initial public offerings of stocks and capital increases, bond issuances, and domestic issuance of NT dollar financial bonds by banks were fully dematerialized starting from July 2006. Listed (OTC) securities were fully dematerialized starting from July 2011; the statistical data is for reference only (Taiwan Central Depository & Clearing Corporation).