Taiwan
18 June 2013
Reporter: Georgina Lavers
Securities Lending default image

Union Bank of Taiwan sign with Calastone


Union Bank of Taiwan, a financial services provider and fund distributor in Taiwan, is the second distributor to sign up with Calastone through the new Taiwan Depository & Clearing Corporation (TDCC) fund service.

The announcement follows last month’s successful implementation of Far Eastern International Bank on Calastone’s TDCC service with 10 offshore fund houses distributing in Taiwan including Aberdeen, Alliance Bernstein, Barings, Fidelity, JP Morgan Asia, Pinebridge, Schroders, Old Mutual and Threadneedle.

Hann-Tsau Tsai of Union Bank of Taiwan said: “Calastone was the obvious choice for us, given their outstanding offshore fund manager and transfer agent coverage and their proven track record in automating fund transactions globally."

Low Hon Yu, chief operating officer at Aberdeen Asia said: “Automating our first distributor via the TDCC service in Taiwan is another step in our strategy to increase our automation rates in the region, following a similar roll-out for funds we manage in Australia and Singapore. The response to Calastone’s initiative has been very positive, and we expect with Union Bank and Far Eastern’s lead other distributors will soon join the TDCC service.”

Sebastien Chaker, head of Asia for Calastone said: “With several million manual orders being processed annually, Taiwan is the top automation priority for our global fund manager clients and in response Calastone has made significant investments in technology and human resources to tailor our service for the Taiwan market.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Murex to run MX.3 platform on AWS cloud
13 December 2017 | Paris | Reporter: Becky Butcher
Murex has collaborated with Amazon Web Services to allow its clients to deploy, test and optimise its MX.3 platform on the cloud
Northern Trust appoints Edwin Chan
13 December 2017 | London | Reporter: Becky Butcher
Edwin Chan has joined Northern Trust to head up sales across the alternatives fund sector in Europe, the Middle East and Africa
Firms remain open to exposures from manual processes
13 December 2017 | New York | Reporter: Becky Butcher
Only 2 percent of capital markets companies have a fully automated compliance support programme, leaving firms open to risk from manual processes, according to a survey by Aite Group and Cordium
Oslo Connect receives regulatory upgrade
12 December 2017 | Stockholm | Reporter: Becky Butcher
Baymarkets Technology is to upgrade Oslo Børs’s OTC system, Oslo Connect, to support regulatory demands such as those under the second Markets in Financial Instruments Directive (MiFID II)
Italian custody win for BNP Paribas
12 December 2017 | Milan | Reporter: Jenna Lomax
BNP Paribas will provide Sara Assicurazioni with global custody services for €1.3 billion in Italian and foreign assets
Fundsquare and i-Hub bring KYC service to funds
12 December 2017 | Luxembourg | Reporter: Becky Butcher
Fundsquare and i-Hub have signed a commercial partnership for the introduction of i-Hub’s know-your-customer (KYC) platform to the funds industry
Zedra hires Lisa Tan
12 December 2017 | Singapore | Reporter: Becky Butcher
Zedra has appointed Lisa Tan as head of corporate services, based in the firm’s Singapore office
More news