The Taiwan Depository & Clearing Corporation (TDCC) has partnered with technology provider Calastone in preparation for the launch of its fund order routing service in Taiwan next week.
TDCC will use Calastone's technology to provide fund managers with automated order flow processing.
"Calastone has provided automated fund transaction processing to us around the region and in Europe for the past three years," says Low Hon Yu, chief operating officer at Aberdeen Asset Management Asia. "Since 2011 it has been helping to bring automation to some of our Taiwan distributors, where the majority of trades are still processed manually. Now that successful testing with the TDCC is complete, we are hopeful that the whole industry will quickly embrace automation, bringing cost and operational efficiencies to the entire process chain."
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