Settlement services - Taiwan

19.09.2014

Pre-matching service

The table below summarises CBL's pre-matching service for external settlement instructions, as well as the pre-matching method and start time in the market. For details of CBL's pre-matching services, see Pre-matching services for external settlement instructions.

Service offeredMethod employedStart (local time)
TDCC-eligible securities
Immediate Release Flag availableAutomated electronic TDCC matching facilityOn receipt of instructions
Connectivity mediumInstruction format
CreationOnline and Xact Web PortalTick to enable the "Immediate Release" option.
Xact via SWIFT and Xact File TransferField :22F::STCO/CEDE/IREL

Procedures for domestic counterparties

Procedure for the domestic counterpartyDeadline
Receipt in CBL / Delivery from CBL
Customers delivering/receiving securities to/from the Taiwanese market must request their domestic counterparty to receive/deliver the securities from/to CBL Participant ID 3810, sub-account no. 38100982690 with TDCC as follows:Market deadline
-Delivering/Receiving Agent:
Deutsche Bank A.G, Taipei Branch (BIC: DEUTTWTPXXX)
-Deliverer's/Receiver's custodian:
CBL (BIC: CEDELULL), for/from account 982694000
-Seller/Buyer:
Ordering party's/beneficiary's account number in CBL.

Allowed countervalue difference

Countervalue difference is not applicable as settlement is on a Free-of-Payment (FOP) basis only.

Specific settlement rules / settlement restrictions

There is no physical securities settlement.

Partial settlement is not allowed.

Customers settling within Clearstream can do so free of payment or against payment.

Back-to-back processing

There is no back-to-back service in the Taiwanese market.

Management of failed instructions

Failed trades are rare in the Taiwanese market as securities are delivered/received free of payment to/from the counterparty based on the settlement date.

In the unlikely event that the trade has not settled by the fifth attempted settlement day, the instructions will be automatically cancelled.

New issues settlement

Customers who successfully tender for an international bond issue must instruct their agent to deliver the securities to CBL's account with TDCC. No special information is required other than the normal settlement receipt instruction; regular instruction deadlines apply.