Taiwan Depository & Clearing Corporation

To promote payment operation service efficiency of the fund transaction platform and enhance the competitivenes of customer services, since January 2017, TDCC has been able to credit investors’ redemptioin proceeds conducted before 2 pm into their bank accounts on the same day. Investors can receive the redemption proceeds one business day earlier, and therefore the efficiency of capital utilization is improved.

As Chairman & CEO of TDCC, Mr. Sherman Lin points out, the company has been dedicated to enhancing the efficiency of each payment processing procedure. In addition to current system connections to over ten financial institutes, recently TDCC has built up another one between Chunghwa Post, and the connection to Taiwan Cooperative Bank is scheduled to go into effect in early 2017. This cooperative scale has marked the largest domestic mutual fund payment flow service system. There have been 800,000 investors opening accounts, and there are approximately 1,500,000 transactions on TDCC Fund Transaction Platform. The increased efficiency will create direct and tangible benefits for investors.

Besides, with a view to cutting down related costs for investors, TDCC has compiled positions of subscribers who purchased offshore mutual funds dominated in NTD and has made efforts to acquire more privileged foreign exchange rates from banks to benefit investors. TDCC has also adjusted the operation procedure and time point to complete currency exchange during banks’ business hours. The new operation not only avoids currency fluctuation due to large FX Swaps during fund transaction but also increases transparency of foreign exchange for investors for the compliance with authority’s policy of stabilizing exchange rate management on the foreigh exchange market.

With more than a decade’s experience in mutual fund industry, TDCC continues to implement a range of infrastructure services, including non-physical beneficiary certification registration, fund transaction platform, declaration and announcement of offshore and futures trust funds to assist the development of domestic mutual fund industry. As Chairman & CEO Mr. Sherman Lin emphasized, under authority’s FinTech policy this year, TDCC and mutual fund institutes made reinvestment and started up FundRich, expanding into the field of front-desk fund sales. In the future, TDCC plans to combine experiences in both front desk and back office, stand in users’ shoes, and launch highly efficient and secure services to be the strongest support for fund companies, sub-distributors, and investors for steady and continuous growth in the fund industry.