The iBoxx Asia Taiwan is designed to measure the performance of TWD-denominated sovereign and sub-sovereign bonds in Taiwan, with a minimum amount outstanding of TWD 30,000,000,000 for sovereign bonds and TWD 3,000,000,000 for sub-sovereign bonds. Securities must have a minimum initial time to maturity of 18 months at issuance and a remaining time to maturity of at least one year at rebalancing. While central government debt does not require a rating, sub-sovereign bonds must be rated investment grade. Eligible bonds must be domestic bonds tradable in the local market, and issuers or guarantors must be domiciled in Taiwan.