Taiwanese Securities Firm Joins Calastone Network
Officials say the automation process has moved along quickly.
Yuanta Securities is the first securities broker to select Calastone in order to automate its offshore funds transmission through the Taiwan Depository and Clearing Corporation (TDCC) fund automation service, mainly used by bank distributors until now.
"Automating fund transactions was a key priority for us as we wanted our clients to get the same dealing experience which they have already been enjoying when trading into traditional stocks," according to officials from Yuanta Securities. "We have been impressed with both the speed of joining and the smooth implementation process. In just a matter of weeks we have been able to automate 50 percent of our transactions, and expect to reach over 70 percent in the next few weeks. The continuing high quality service from Calastone has made this an effortless process."
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