Taiwan Depository & Clearing Corporation

In 2024, the revenue of Taiwan's three major financial industries (banking, insurance and securities, futures, and investment trust) exceeded NT$1 trillion, setting a historical record. Additionally, the daily average trading value of TWSE-listed, TPEx-listed, and emerging stocks reached NT$528.1 billion, another historical high, growing by 46%, reflecting the prosperity of the capital market. The total custody market value of financial assets, including stocks, bonds and bills, ETFs, cross-border custody, and onshore funds, exceeded NT$107.4 trillion, an increase of 25.8% over the previous year.

Moreover, 2024 marked the 35th anniversary of TDCC, which introduced a new corporate logo featuring a blue-green gradient overlap. This symbolizes diverse development and a fresh outlook, representing innovation and sustainability in capturing the pulse of global finance.

TDCC Chairman Bing-Huei Lin stated that, driven by a dynamic market, TDCC actively optimized its core businesses and achieved stable growth. It has also provided various innovative value-added services, enhancing digital experiences for investors, strengthening information and cybersecurity resilience, and proactively expanding and deploying information infrastructure to accommodate future growth in operational capacity, ensuring the stable operation and sustainable development of the market.

In 2024, TDCC actively optimized and steadily grew its core business functions, including securities registration, centralized custody, book-entry transfer, clearing, and settlement. The company also achieved excellent results in its innovative services. Key initiatives include:

1.Strengthened the Fund Market Ecosystem

TDCC made remarkable achievements in the fund business in 2024. To improve the efficiency of fund market payment and receipt, TDCC's "Onshore Fund Centralized Clearing Platform" provided over half of the onshore fund payment and receipt services. Additionally, the payment and receipt service for investment trusts companies’ direct clients, launched in December 2024, further reduced transaction costs for both investment trust companies and investors.

In serving investors and investment trust companies, and in response to the ETF investment boom and investors' high demand for ETF data and dividend information, TDCC integrated information from the front-end, back-end, and the Securities Investment Trusts and Consulting Association (SITCA) to establish the " ETF Information Hub ," offering a one-stop ETF information query service. Furthermore, the "ETF eNotice" electronic notification service, launched last year, not only saved investment trust companies the cost of printing and mailing ETF dividend distribution notices but also greatly enhanced convenience for investors in accessing information.

In assisting regulatory authorities with market supervision, starting from 2024, TDCC has been entrusted by the Financial Supervisory Commission (FSC) to handle the first phase of onshore fund declaration effectiveness review cases. In 2025, TDCC will continue to expand its role to handle the second phase of both onshore and offshore fund declaration effectiveness review cases, and will also take on the responsibility of conducting audits for investment trust enterprises.

2.Core Business Integrated with Innovative Thinking

In 2024, TDCC established the "Delivery Instruction Transmission Platform" between investment trust companies and custodians and assisted securities firms in building the "TDCC Back Office Operations Center," effectively helping them integrate resources and enhance operational efficiency. In March 2024, TDCC launched the "SyncOnline" service, integrating real-time settlement information for bonds and bills, which facilitated smoother and more efficient settlement in the bills market. Additionally, under the guidance of the FSC, TDCC established the "Real World Asset (RWA) Tokenization Task Force," collaborating with financial institutions to explore the feasibility of financial asset tokenization.

To meet the growing demand from investors for sub-brokerage overseas investment through securities firms, TDCC has signed cross-border custody agreements with 15 sub-brokerage securities firms, forming a "Team Taiwan" to enhance local custody services and efficiency through TDCC’s standardized and automated operations, strengthen investor protection, and create a new era of market cooperation and mutual benefit.

3."Shareholder e-Services" Integrated with "TDCC e-Passbook" to Achieve ESG Goals

TDCC has implemented inclusive finance through the "TDCC e-Passbook" App, which surpassed 5.64 million users in 2024. In respond to the FSC's promotion of Open Banking 2.0 policies, TDCC developed a diversified asset integration and inquiry service, allowing investors to check their holdings in stocks, bonds, onshore and offshore funds, as well as deposit balances and transaction details from 16 financial institutions. Moreover, the "TDCC e-Passbook" App integrates the eNotice service, enabling investors to check dividend payment amounts or stock dividend quantities, allowing them to keep track passive income and cash flow at all times.

The "eFastChannel Platform ", launched at the end of 2024, allows investors to convert all their paper securities passbooks into mobile passbooks online, eliminating the need to visit the securities firms counter. This provides a better digital experience and encourages more investors to adopt and use the e-Passbook App. The initiative drives financial innovation in Taiwan’s securities market and supports paperless, carbon-reduction efforts in response to the net-zero emissions and sustainable finance goals.

Future Outlook

To implement major policies and strengthen market infrastructure, TDCC will fully support the Asia Asset Management Hub policy in 2025 by building the Taiwan Individual Savings Account (TISA) information reporting and investor inquiry platform, and will continue to enhance shareholder e-services and fund market services. Internally, TDCC will actively adopt AI technology and expand its applications to further support the stable development of the market.

TDCC will focus on two main development pillars: "Innovation" and "Sustainability." It will deepen three key visions: "Enhance the Financial Asset Depository Platform," "Lead Digital Innovation in Financial Services," and "Promote the Sustainable Development of Financial Markets." TDCC will agilely develop innovative services, actively respond to policies and market demands, and expand its service scope and applications, incorporating sustainability principles to lead the financial industry toward altruism and mutual benefit.