In the past, after bond dealers and their clients negotiated the buying and selling of bonds, they had to dispatch a courier to deliver or mail the bond trade confirmation, and the delivery statement(hereinafter referred to as trade confirmation slips), or bond passbooks to the clients for safekeeping. In the event of early termination of a bond trade, the bond dealer would first need to reclaim the bond passbook from the client and then proceed with the subsequent settlement operations, which was time-consuming and labor-intensive.

In response to the impact of COVID-19 on the global industry and the acceleration of digital transformation in the financial sector, TDCC and the Taiwan Securities Association have, since 2020, jointly planned the electronic delivery services for negotiated trade confirmation slips and bond passbooks. After bond dealers and their clients negotiate the buying and selling of bonds, they can conduct identity authentication through certificates, sign documents electronically, and then complete transmission to the counterparty through TDCC’s system. In addition, the range of trade confirmation slip targets covers financial bonds, corporate bonds, and local government bonds in TDCC’s custody, as well as central government bonds not in TDCC’s custody.

Furthermore, TDCC has built the “TDCC iQuery.” platform The user-friendly interface allows investors to receive documents through email links or log in to the platform at any time to view electronic documents via computer, mobile phone, or tablet. In the event of early termination of a bond trade, the client can also confirm the early termination content online, thereby fully resolving fixed-income product market’s pain point of dispatching a courier or mailing settlement documents for the past three decades.

Since the launch of the services mentioned above, the total number of trade confirmation slips, and issued bond passbooks that are sent electronically has exceeded 200,000 per year. This efficient operation has received positive feedback from the practitioners and has concretely achieved environmental protection, energy efficiency, and carbon reduction. TDCC will continue to extend the application of digital finance, expand the diversity of services, and expect to implement ESG together with market participants.