Taiwan Depository & Clearing Corporation

To align with international financial market information standards and enhance the transmission efficiency of shareholder meeting agenda information in Taiwan, the Taiwan Depository & Clearing Corporation (TDCC) will officially upgrade its Cross-Border Voting Straight-Through Processing (STP) service to the ISO 20022 format from September 30, providing English shareholder meeting agenda information to international proxy voting agencies. This upgrade will make Taiwan's shareholder meeting information more standardized, structured, and automated, while seamlessly aligning with global standards.

Partnering with International Proxy Voting Agencies to Promote Standardization of Shareholder Meeting Agenda Information

Huang Te-ping, Director, Head of Issuer Service Department at TDCC, in response to the recommendations on standardizing shareholder meeting agenda information put forward in the 2023 White Paper by the American Chamber of Commerce in Taiwan (AmCham Taiwan), TDCC has continuously advanced the digitalization of shareholder meeting information and further collaborated with international proxy voting agencies to explore the adoption of ISO 20022. Since July this year, TDCC has engaged in technical discussions regarding the content and transmission methods of ISO 20022 shareholder meeting agenda information with international proxy voting agencies, including Broadridge, ISS, and Proxymity. Following file transmission tests, TDCC has officially provided English shareholder meeting agenda information in ISO 20022 format through its Cross-Border Voting Straight-Through Processing (STP) service starting September 30.

Adopting ISO 20022 to Build a Standardized Cross-Border Voting Information Transmission Mechanism

This update to the English agenda information is based on the ISO 20022 Meeting Notification message standard, utilizing the Extensible Markup Language (XML) file format compliant with ISO 20022 specifications. It leverages the SFTP network protocol for message transmission. Synchronizing and standardizing both message formats and transmission methods greatly facilitate the reception, parsing, and downstream processing of information for international proxy voting agencies.

Strengthening Agenda Information Infrastructure and Enhancing Cross-Border Voting Convenience for Foreign Investors

English shareholder meeting agenda information serve as vital foundational information for foreign investors exercising their shareholder rights. Providing English shareholder meeting agenda information to international proxy voting agencies in the ISO 20022 format not only strengthens information structuring and ensures format consistency, but also significantly improves the efficiency of information reception and processing by international proxy voting agencies. Ultimately, this enhances the international visibility and competitiveness of Taiwan's capital market.