Settlement services - Taiwan
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 offered | Method employed | Start (local time) | |||
| TDCC-eligible securities | |||||
Immediate Release Flag available | Automated electronic TDCC matching facility | On receipt of instructions | |||
| Connectivity medium | Instruction format |
Xact Web Portal | Tick to enable the "Immediate Release" option. |
Xact via SWIFT and Xact File Transfer | Field :22F::STCO/CEDE/IREL |
Procedures for domestic counterparties
| Procedure for the domestic counterparty | Deadline | |||
| 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.