TDCC publishes mid-year report listing achievements
By Ted Chen ,The China Post
June 17, 2014, 12:00 am TWN
TAIPEI, Taiwan -- The Taiwan Depository & Clearing Co. (TDCC, 集保結算所) hosted a media event recently, providing a mid-year progress report outlining numerous improvements in backend operations for Taiwan's financial sector.
In his address at the event, TDCC Chairman Ding Kung-wha (丁克華) listed numerous achievements such as the completion of systems modifications allowing for buy-first-sell-later day trading market orders earlier on Jan. 6 of this year.
In addition, Ding noted that the TDCC has enabled companies to conduct shareholders' voting electronically this year, propelling voting participation among shareholders of listed companies to grow by a factor of 2.65, with the number of shares represented at the polls increasing by a factor of 1.77. As of June 12, the number of listed companies utilizing electronic voting reached 73, with over 130,000 votes cast, representing share values exceeding NT$88.7 billion.
Most notably, Ding pointed to the establishment of partnerships between TDCC and two Europe-based clearing and depository counterparts, Euroclear and Clearstream, in a bid to propel growth in Taiwan's market for foreign bonds and derivatives. As of the end of May this year, over 12.1 billion yuan worth of renminbi-denominated bonds issued by 15 entities are in circulation in the Taiwan market, representing about 4 percent of the pool of 287.5 billion in renminbi deposits held by the investing public.
Furthermore, Ding stated that the TDCC stands ready to enable sell-first-buy-later day trading market orders, which are scheduled to become available beginning on June 30 following regulators' approval.
Ding also noted other achievements including improved security measures protecting the sensitive personal data of the investing public, and training programs to allow graduating students a fast start in the financial sector as they begin their careers. Ding was also elated to announce that the Taiwan Stock Museum (台灣股票博物館) had garnered over 29,000 visitors in the first six months of this year.