Approved foreign exchange business in September 2017

central bank of the republic of china (taiwan)

press release                                               release date: october 12, 2017                            

approved foreign exchange business in september 2017

in line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the bank approved the following:

1.   ctbc bank to engage in the trial operation of foreign currency automatic exchange machines and to install foreign currency automatic teller machines (atm).

2.   ctbc bank to engage in electronic transaction businesses involving semi-discretionary individually managed money trust business denominated in foreign currencies.

3.   yuanta securities to engage in principal protected and non-principal protected structured products composed of foreign currency trust fund options linked to foreign currency principals.

4.   ctbc bank to be an investor clearing bank of foreign currency bonds and bills.

5.   pioneer global investments (taiwan) ltd. to conduct the foreign currency discretionary investment business.

6.   aberdeen international securities investment consulting company ltd. to act as the domestic trustee of private placement offshore funds to manage the sale of funds to specific clients.

7.   four branches of two banks to operate foreign exchange business. as of the end of september 2017, there were 3,441 authorized banks, including 3,403 domestic banks, 3 mainland banks and 35 foreign banks.