:::
Q&A

Fund Order-Routing Platform show or hide details

  • 1.

    Are there any regulations governing the current onshore and offshore mutual funds order placement through TDCC’s Fund Order-Routing Platform and trade information transmission between onshore and offshore mutual fund firms?

    show or hide details
    1. According to the Regulations Governing Offshore Funds FAQ, the 10th question states: TDCC established a Fund Order-Routing Platform to provide the automated transmission service for onshore mutual fund order placement and transaction confirmation. It also provides the transmission service for offshore information transmission service agencies to transmit the transaction information to offshore mutual fund institutions.
    2. If sub-distributors such as master agents and securities investment trust firms intend to adopt the information transmission service agency’s method for onshore purposes, they should apply through TDCC’s mutual fund trade information transmission platform.
  • 2.

    Currently, which sub-distributors or mutual fund companies have joined the Fund Order-Routing Platform?

    show or hide details

    The latest list of sub-distributors and mutual fund companies using the Fund Order-Routing Platform can be downloaded from TDCC’s website. ((https://www.tdcc.com.tw/portal/zh/download) To find relevant information: Downloads→Participant Section / Funds →All → Sales Institution and Fund Company Overview(Chinese version only)

Information Reporting and Announcement Platforms show or hide details

  • 1.

    What is the purpose of establishing“FUNDCLEAR”?

    show or hide details

    Due to the wide variety of offshore funds, the FSC (Financial Supervisory Commission) implemented the “Regulations Governing Offshore Funds” on November 1, 2004 which stipulates that the master agent shall publicly conduct the announcement and notification persuade to the regulations and complete the reporting and announcement by inputting the information through the designated information transmission system. The FSC has issued a notice appointing TDCC and “FUNDCLEAR” as the designated reporting agency and information transmission system.

  • 2.

    How do investors apply to access the Announcement Platforms on FUNDCLEAR?

    show or hide details

    There’s no need to apply. The Announcement Platforms on FUNDCLEAR are accessible to all investors. Investors just need a personal computer that can connect to the Internet to inquire about relevant information on the platform.

  • 3.

    What information can investors get from checking the Announcement Platform on FUNDCLEAR?

    show or hide details

    Investors can inquire information on master agents, mutual fund overviews, basic organization information, the sub-distributors, indicated NAV, prospectus, investor information summary, public announcements, interest/proceeds and ESG fund information, etc..

  • 4.

    How can investors check the number of mutual funds provided by each bank on the FUNDCLEAR Announcement Platform?

    show or hide details

    The FUNDCLEAR Announcement Platform is currently available in the organization's basic information enquiry area, providing investors with a list of sub-distributor categorized by institution type (such as banks and securities investment firms).

Mutual Fund Trading Platform show or hide details

  • 1.

    What services are provided by TDCC’s Mutual Fund Trading Platform?

    show or hide details

    As a post-trade service provider of the mutual fund market, TDCC provides investors, sub-distributors, securities investment trust firms, futures trust firms, and master agents with onshore and offshore mutual fund transaction services while processing payment operations and information transmission in connection with subscription, redemption, switching, interest/proceeds, and liquidation etc..

  • 2.

    Is it safe for investors to settle the mutual fund transaction through sub-distributors in the name of sub-distributors when buying and selling mutual funds on the Mutual Fund Trading Platform?

    show or hide details
    1. TDCC processes the mutual fund order-routing and payment operation pursuant to Article 33 of the Regulations Governing Offshore Funds and the supervisory authority’s orders. If and when the investor agrees to subscribe to the mutual fund under the name of the sub-distributor, the settlement payment for subscription, redemption, switching, interest/proceeds, and liquidation will be handled through TDCC's dedicated cash account at its designated financial institution. The investor's rights and interests are guaranteed.
    2. In accordance with the other relevant regulations, upon termination of its agency or its offering and sale business for an offshore fund, a sub-distributor shall assist customers with subsequent redemption, switching, or other relevant matters until another fund sub-distributor takes over the operation. If a sub-distributor goes out of business for any reason, the sub-distributor must transfer customer data to other sub-distributor before suspension of business operations. The investor can apply to the successive sub-distributor for redemption after the transfer, and the investor's rights and interests will not be affected.
  • 3.

    What processes need to be completed before purchasing mutual funds?

    show or hide details
    1. Before processing the application for subscription of an offshore fund, the investor must first sign an agreement with the sub-distributor, and retain relevant basic information and financial institution cash account for the subsequent payment for redemption, interest/proceeds, and liquidation.
    2. Investors must also fill out the debit payment agreement and submit it to the sub-distributor for seal verification or otherwise initiate debit authorization online provided by the sub-distributor to effect debit payment.
  • 4.

    What should investors pay attention to when redeem for onshore and offshore funds?

    show or hide details
    1. Investors applying for the redemption must submit the application to the sub-distributors which they subscribed.
    2. The valuation date and net asset value per unit are subject to the information notified by the fund’s master agents, securities investment trust firms or the futures trust firms.
    3. For investors subscribing in NTD, TDCC will handle the redemption payment in NTD; for investors subscribing in foreign currency, t TDCC will process the payment for redemption to the investors in the original foreign currency.
    4. After the calculation of the fund redemption price is settled, TDCC will notify the designated payment bank to deduct the remittance fee from the investor’s redemption amount (the NTD cross-bank transfer fee is between 30 to 210 NTD, and the foreign currency account wire fee is 220 NTD per sum) to the dedicated redemption account at the bank designated by the investor at the time of opening the account with the sub-distributor (the remittance fee is exempt in the case where the dedicated redemption account at the bank designated by the investor is the bank which conducted an agreement with TDCC). If there are insufficient funds for the payable remittance fee, the remittance will be delayed until there are sufficient funds to pay the remittance to the investor.
    5. When the redemption payment is made to the foreign currency account in the designated bank, the investor should still pay attention to whether the bank has remitted related expenses.
  • 5.

    How do investors inquire about the account balance for onshore and offshore funds they invested in?

    show or hide details

    After subscribing to the mutual funds through the sub-distributors on Trading Platform, in addition to get the transaction information through the sub-distributors, because the sub-distributors uses TDCC’s mutual fund platform to process the trade information transmission and payment operation, so investors can find their onshore and offshore fund balance via following channels:

    1. File the application to sub-distributors to access TDCC’s "Account and Fund Information Inquiry System" (https://taq.tdcc.com.tw/QRY/mainc.jsp) webpage. After obtaining an account and initial password, investors can go to the website to find relevant transaction information.
    2. Use TDCC’s e-Passbook app to check the transaction information. If investors haven’t opened up the e-Passbook, they could apply with securities companies to get the permission to the app.

Open-end Beneficiary Certificate show or hide details

  • 1.

    What is the regulation for the issuance of onshore funds (securities investment trust funds and futures trust funds) in dematerialized form?

    show or hide details

    1 Article 32, Item 2 of the Securities Investment Trust and Consulting Act stipulates that beneficial interest certificates may be issued in scripless form and transferred by the book-entry method. In accordance with Article 34, Item 4 of the same law, book-entry transfer or registration should be handled in accordance with the Regulations Governing Book-Entry Operations for Centrally Deposited Securities. 2 Article 59, Item 2 of the Regulations Governing Futures Trust Funds stipulates that beneficial certificates shall be issued in dematerialized form and shall be delivered by registry and book-entry transfer.

  • 2.

    What is the process for subscription and redemption after the issuance of onshore dematerialized mutual funds?

    show or hide details

    After issuing onshore funds in dematerialized form, the application process for subscription and redemption does not change, and the beneficiary can still apply for subscription and redemption through onshore mutual fund issuing firms or sub-distributors. The onshore mutual fund issuing firm can then register with TDCC through a computer connection.

  • 3.

    If the securities investment operator issues funds to the beneficiary subject to beneficiary certification in dematerialized form, how should it be handled (Book-Entry Operations for Centrally Deposited Securities)?

    show or hide details

    In the case of a securities investment trust enterprise that wants to issue dematerialized beneficiary certificates, it shall open a TDCC depository account and sign a contract with TDCC in accordance with the provisions of Article 80-1 of Operating Rules of the Taiwan Depository & Clearing Corporation to enable TDCC to perform book-entry transfer and payment /receipt of funds for the issuance of dematerialized beneficiary certificate.

  • 4.

    After the open-end beneficiary certificate is dematerialized, if the investor does not claim the physical beneficiary certificate, how can they apply for the creation of pledge?

    show or hide details

    The investor (pledger) needs to open a central depository account with the securities firm and apply to the securities investment trust firm for book-entry transfer. The securities investment trust firm facilitates the 671 transaction, transferring the amount of beneficiary certificate units to the investor’s (pledger’s) centralized depository account. Then the securities firm can facilitate the 310 transaction and complete the process of pledge creation.

Other show or hide details

  • 1.

    What is the deadline for placing an order on the Fund Order-Routing Platform?

    show or hide details

    The deadline for placing an order on the Fund Order-Routing Platform is 17:30. However, sub-distributors still need to complete the application process for placing an order before the mutual fund company's actual deadline.

  • 2.

    What are the service hours for Information Reporting and Announcement Platforms on FUNDCLEAR?

    show or hide details

    The "Information Reporting Platform" is open from 7am to 9pm on business days. The " Announcement Platform" is open 24 hours a day.

Regulations Announcement
(Chinese version only)