Account Opening and Changes

Introduction

  1. TDCC’s "Participant" refers to any of the following who have established a book-entry transfer account or an issuance registration account with the TDCC: 1.1.Bills dealers. 1.2.Investor custodian banks. 1.3.Issuers. An issuer who intends to issue the dematerialized short-term bills shall engage a bills dealer to deliver application forms and documentations to TDCC for opening an issuance registration account. Issuer is responsible of the accuracy of all information provided. Should correction or update be needed, proof of authentication is required when submitting to TDCC for revision.

  2. A participant that applies to the TDCC to establish a book-entry transfer account or an issuance registration account shall submit an application to open an account along with its company seal and related documents.

  3. To conduct short-term bills central depository, book-entry, and related operations, a bills dealer or an investor custodian bank shall use a deposit account opened by itself or by a designated bank with its Central Bank's accounts to handle payments and receipts. If the bills dealer is a securities firm that concurrently operates a bills financing business, it shall select an agent clearing bank at which it shall establish a deposit account, and engage the agent clearing bank to undertake payment and receipt of funds on its behalf for New Taiwan Dollar ("NTD") denominated short-term bills.

  4. An issuer that issues dematerialized short-term bills shall engage a bills dealer to deliver the issuance and registration documents to the TDCC for processing of the issuance and registration. When a bank issues NCDs, the bank may itself deliver the issuance and registration documents to the TDCC for processing of the issuance and registration.

  5. When a bills dealer applies to the TDCC to change the basic identification data for its book-entry account, either of the following methods may be used: 5.1. Notify the TDCC through the Bills Clearing and Settlement System (BCSS). 5.2.Fill out an application form for opening/closure/changes of a book-entry account and submit it to the TDCC.

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Regulations Announcement
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