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TDCC Achieves Outstanding Operational Performance through Active Digital Innovation in 2023

2024/01/19

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In 2023, the financial markets demonstrated stable growth, and TDCC leveraging its diverse services, continued digital innovation and strengthened operational resilience, yielding fruitful business outcomes.

TDCC's organizational culture, characterized by diversity and innovation, played a pivotal role in advancing market transformation, earning trust from investors and regulatory authorities. Chairman Bing-Huei Lin emphasized the continuous efforts in digital innovation, excellent operational performance, and the establishment of robust financial infrastructure, aligning with sustainable development in the financial market under the guidance of the Financial Supervisory Commission (FSC) and collaborative efforts with industry stakeholders.

In 2023, TDCC actively optimized its core business functions, such as securities registration, centralized custody, book-entry transfers, and clearing and settlement. Significant achievements in innovative services included:

1. Rapid Growth of Shareholder eServices

The introduction of the eNotice platform in 2023 garnered enthusiastic responses from investors. Over the six months, nearly a thousand issuing companies signed up, representing 70.3% of companies issuing stock dividends and cash dividends.

The eVoting platform achieved the target of a 60% electronic voting rate within three years, setting new records in the number of companies, votes, and shares.

The eMeeting platform for virtual shareholder meetings, provides shareholders a convenient way to attend shareholder meetings, was adopted by 96 companies in 2023, marked a 33.3% growth compared to the previous year.

2. Launch of Onshore Fund Centralized Clearing Platform

The establishment of the Onshore Fund Centralized Clearing Platform provides centralized processing mechanisms for transaction information and fund payments such as subscriptions, redemptions, and income distributions for onshore funds. Establishing standardization and automation mechanisms in the fund market. 14 investment trust companies and 7 distribution agencies have joined, achieving a fund market share of 56%. Distributing institutions and investment trust companies have seen an average reduction of 74% in the number of transactions processed through the platform, significantly enhancing the efficiency of fund payments.

3. Open Securities Services Online

TDCC launched new services for open securities public data inquiries. Securities, futures, and mutual fund industries had all started using this service. Collaborating with three third-party service providers (TSP), TDCC delivered convenient and diverse inquiry services for investors.

4. Expansion of Open Banking

Continuous expansion of the linkage between the TDCC ePassbook App and banks allowed investors to check the deposit balances and transaction details of 16 financial institutions. This coverage accounted for over 90% of the deposit balances of the top 20 financial institutions in Taiwan. It is the first-ever domestic single app asset integration service.

5. Significant ESG Benefits from ePassbook App

The ePassbook App experienced rapid growth, serving over 4.5 million users. It offered a one-stop inquiry service for securities, deposits, funds, and other diverse assets, providing users with a convenient, fast, and real-time experience. The app effectively reduced the cost of paper passbooks and operational costs for securities firms, demonstrating significant ESG benefits.

6. Upgrade of ESG IR Platform

The Investor Relations Integration Platform (ESG IR Platform) not only discloses corporate governance evaluations for Taiwanese companies but also includes ratings from six global ESG rating agencies for over 600 TWSE-listed and TPEx-listed companies in Taiwan. In 2023, TDCC published the "Code of Conduct for ESG Ratings Providers". Additionally, "Voting Disclosure Service on Each Separate Proposal for shareholders’ meeting" was introduced, enhancing rating transparency and international alignment.

7. Optimization of TDCC Fund Clear

The Fund Clear, with approximately 1.79 million visits in 2023. In order to enhance visualization and user-experience, the Fund Clear underwent phased upgrades to present content in specialized sections, including ESG funds, data and statistics, and investment education. It optimized search functionality and introduced interactive charts, while promoting dollar cost averaging investment, retirement planning, and anti-fraud education.

8. Promotion of Inclusive Finance by FundRich

TDCC's subsidiary, FundRich, continued to implement inclusive financial policies, providing a user-friendly wealth management platform and promoting correct financial management concepts. The platform had attracted 250,000 account openings, with fund assets exceeding NT$120 billion, both reaching new highs.

Looking ahead, TDCC aims to deepen its four major visions: innovation, resilience, sustainability, and financial inclusion. It plans to expand the application of AI, promote digital finance, and develop a dual-track of digital development and cybersecurity reinforcement to construct the country's digital financial infrastructure. Through these efforts, TDCC aims to enhance operational resilience and embrace market changes and sustainable finance trends.