我國近年積極推動金融中心，而且各項會計制度都需和國際接軌，因此對於金融商品的評價所需要的指標利率更顯重要，在過去台灣的結構債事件，由於債券評價的不透明，造成了投資人的損失也重傷了投信債券基金，這些事件更突顯了公司債市場指標利率的欠缺。
針對此一現象，OTC櫃檯買賣中心於2007年推出公司債參考殖利率曲線，邀請20家報價券商負責報價，進而建構出台灣的公司債各信用評等的參考殖利率曲線。在經過三年的運作，OTC公司債參考殖利率曲線成為台灣公場債公平價值的重要參考依據，但仍未有人將此一曲線資料拿來與公司債定價及日常交易驗證。
本研究收集了AAA級的公司債初級定價資料和每日的公債、利率交換利率收盤資料，經過統計分析及針對交易商問券調查後，發現交易商在公司債初級市場定價和公司債次級市場議價時，大多直接參考次級市場公司債利率，但在每日對OTC進行參考利率報價時，則是同時參考公債及公司債次級市場的波動來調整。在公司債初級市場定價時，以OTC參考殖利率較為貼近。而在公債、利率交換及OTC參考利率的每日波動資料來看，各年期的OTC參考利率之間相關性最高，但各年期OTC參考利率與公債、利率交換市場的連動性卻偏低，而這三種利率日波動幅度平均值的成對檢定結果顯示並無顯著不同。

In recent years, actively promoting China's financial center, and the items are subject to the accounting system and international standards, so for the evaluation of financial products required benchmark rate is more important, the structure of debt in the last event in Taiwan, due to the opaque bond rating, resulting in the investment The losses were seriously injured Asset Management bond funds, these events also highlighted the company's lack of bond market interest rates.
To this phenomenon, OTC OTC corporate bonds launched in 2007 reference yield curve, is responsible for inviting 20 brokerages offer quotations, and then construct Taiwan's corporate bond credit rating of the reference yield curve. After three years of operation, OTC corporate bond yield curve to become Taiwan's reference to public debt fair market value of important reference, but this has not been used for a curve and bond pricing data and daily transaction authentication.
The collection of AAA-grade corporate bond pricing data and daily primary bonds, interest rates close information exchange, through statistical analysis and investigation for securities dealers to ask, it was found the primary dealers in corporate bonds and corporate bonds secondary market pricing market bargaining, the most direct reference to the secondary market corporate bond interest rates, but in the daily reference rate quoted on the OTC for the time, it is also refer to government bonds and corporate bonds in the secondary market volatility to adjust. In the primary market when pricing corporate bonds, to yield relatively close to the reference OTC. In bonds, interest rate swaps and OTC daily reference rate volatility statistics show that the OTC each year the highest correlation between the reference rate, but the reference rate for each year and the bonds of OTC interest rate swap market, with relatively low mobility and the volatility of the three interest rate on the average of paired test showed no significant difference.

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