Taiwan Depository & Clearing Corporation

Short-Term Bills Service

TDCC provides various services for the Negotiable Certificates of Deposit (NCD), Commercial Paper I (CPI), Commercial Paper II (CPII), Banker's Acceptance (BA), Beneficial Securities and Asset-Backed Commercial Paper (ABCP), Municipal Notes and other short-term bills approved by the competent authorities. TDCC's services include physical securities depository, registration and book-entry delivery for dematerialized securities, clearing and settlement for both payments and securities, book-entry service for pledged bills, presentation notice and redemption for maturity bills.

Bills dealers and investors executes trading, settlement and pledge operations via TDCC's transmission interface.Settlement service for bill dealers and investors' transactions is listed here.

Taiwan Bills Index Rate (TAIBIR)

Domestic interest rate derivatives of Taiwan, such as IRS, Notes Issuance Facilities (NIF), Fixed Rate Commercial Paper (FRCP), loans, bank debentures, corporate bonds and other financial products are mostly related to floating rate in general. The floating rate is linked to the known as standard short-term bills interest rate index.

TAIBIR is acknowledged by The International Swaps and Derivatives Association (ISDA) in December 2010 and has been written in the ISDA 2006 Definitions.

Construction and Operation of TAIBIR lists as follows:

The contributing panels of TAIBIR consists 20 members of BFA. Addressing the panel’s contributors in particular.

1. Bill Finance Corporation is the most qualified contributors.
2. Banks or securities firms engage significant.
3. Transaction volumes of over certain % in short-term bills market.
4. Well-capital Local Commercial banks.
5. Any foreign bank that has conducted short-term bills transactions in the most recent year.

A.Index Rate Events

B.Primary and Secondary Index Rate

C.The System

D.Input Rate Schedule

E.Index Compilation

F.Calculation

On-Line Monitoring

Reference

• Announcements on TDCC website(www.tdcc.com.tw).
• Contact information: 886-2-2719-5805

NTD-Denominated Bonds Services Overview

Negotiable Trades effected Over-the-Counter

For Negotiable Trades effected Over-the-Counter, TDCC offers Outright Trade and repo trades services.

Interest and Redemption Payment services

When the issuer deals with the payment of interest and redemption, TDCC will create a list of holders on behalf of the issuer by taking the following steps:

For issuers entrusting TDCC as their paying agent to deal with principal/interest redemption, the operation procedures are stated as following: