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Eight Highlights from TDCC in 2023, Setting a Historic High in Custodial Market Value

2024/01/03

Amidst global market volatility last year, Taiwan's stock market demonstrated impressive performance, closing at 17,931 points by the end of 2023, marking a remarkable 26.8% increase. Benefiting from a robust fundamental landscape, continuous corporate governance improvement, and industry-related fluctuations, Taiwan's stock market outshone. The total market value of securities, including stocks, bonds, bills and funds, held in custody by TDCC reached an unprecedented NT$85.37 trillion by the end of 2023, showing a substantial increase of 24.5% compared to the previous year, setting a new historical record.

Bing-Huei Lin, Chairman of TDCC, expressed the organization's commitment to service resilience and sustainable development under the guidance of the Financial Supervisory Commission (FSC) and support from the financial industry. Embracing a core philosophy of altruism and common good, TDCC leverages technology to construct market infrastructure, offering diversified services across domains to realize the corporate value of "financial infrastructure, digital collaboration."

Key highlights of TDCC's business achievements in 2023 include:

Open Securities Services - All Three Industries Online

TDCC launched new services for open securities public data inquiries. By the end of 2023, 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.

Electronic Notifications for Shareholder Services - Investors Responded Enthusiastically

The eNotice platform for shareholder services was launched at the end of June 2023, providing electronic notifications for dividend payments of issuing companies. Over the past six months, nearly a thousand companies signed up, with millions of shareholders agreeing to adopt the service. Notably, 87% of investors applied through the TDCC ePassbook app, showcasing strong investor response and contributing to net-zero emissions.

Virtual Shareholders' Meeting Platform - Enhancing Digital Convenience

TDCC upgraded its eMeeting platform in 2023, facilitating hybrid or purely virtual shareholders' meetings. Shareholders can use the platform for check-ins, live streaming, text-based inquiries, and participation in motions voting. This digital service was adopted by 96 companies last year, a growth of 24 from the previous year.

Electronic Voting for Shareholders' Meetings - Transforming Corporate Governance

In 2023, a total of 2,092 TWSE-listed, TPEx-listed, and emerging companies adopted TDCC's eVoting service within the "Shareholder eService." The electronic voting rate reached 60.51%, setting historical records for the total number of companies, electronic voting transactions, and shares voted. This transformation is reshaping Taiwan's shareholder service landscape and promoting shareholder activism.

ESG IR Platform - Pioneering Sustainable Future

TDCC's 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 December 2023, TDCC published the "Code of Conduct for ESG Ratings Providers" based on IOSCO standards, enhancing rating transparency and international alignment. Additionally, services like "Voting Disclosure Service on Each Separate Proposal for shareholders’ meeting" and a series of ESG investment screening features were introduced, marking a milestone in responsible investment practices in Taiwan.

Onshore Fund Centralized Clearing Platform - Facilitating Transformation

TDCC established the Onshore Fund Centralized Clearing Platform in June 2023, providing centralized processing mechanisms for transaction information and fund payments such as subscriptions, redemptions, and income distributions for onshore funds. 14 investment trust companies and 7 distribution agencies have joined, achieving a fund market share of 56%.

TDCC ePassbook App - Driving Green Innovation Economy

Since its launch, the TDCC ePassbook app has rapidly grown, with over 4.4 million users. It offers a one-stop inquiry service for securities, deposits, funds, and more. The exclusive services "Link to Banks" and "Shareholder eService" have received acclaim in the market, contributing significantly to green digital finance. The app was honored with the Best Popular Brand Category in the 2023 National Brand Yushan Award.

FundRich Inclusive Finance - Achieving Service Excellence

TDCC's subsidiary, FundRich, continues to implement inclusive finance policies by providing a secure and user-friendly wealth management platform. By the end of 2023, the platform had garnered 250,000 account openings, and fund assets exceeded NT$120 billion, reaching new highs. In alignment with the FSC's Capital Market Roadmap, TDCC established the Pension Platform, combining retirement investment and insurance protection. The Pension Platform currently offers a total of 52 funds with an accumulated fund size of nearly 3 billion. In addition, it collaborates with 15 insurance companies to provide insurance products, enhancing the convenience and accessibility of financial services."

Looking ahead, embracing change and advancing sustainability are the goals of TDCC. The focus of development includes strengthening digital finance and implementing inclusive finance. TDCC will continue to optimize core operations, expand digital innovation services and applications, and explore various digital financial market innovations. The aim is to provide comprehensive services that meet the needs of investors in the new era, enhancing financial depth and international competitiveness.

TDCC