Taiwan Certificate Authority Inc (TWCA, 台灣網路認證) and Taiwan Clearing House (台灣票據交換所) on Thursday launched TWID, an identification authentication service aimed at increasing convenience for consumers through improved online services.
TWID provides a secured method for consumers to link their brokerage accounts to their bank accounts online, saving them a visit to a bank branch.
The service began operations in November last year and has been used to verify the identification of financial institutions after the Ministry of the Interior gave its approval for integration with the government’s Citizen Digital Certificates system.
Two local brokerages have adopted the service to establish links with bank accounts, while 11 have been using the service to facilitate trading data inquiries and stock auctions, as well as shareholder voting in corporate matters and elections, TWCA said.
In addition, 13 local life insurers have adopted the service to further their efforts to go paperless and yield cost savings, it said.
Securities and futures brokerages, as well as securities investment trusts and consulting companies, have also employed the service to expand their online account setup capabilities, hoping to attract consumers to new offerings and boost market turnover, TWCA said.
Taiwan Stock Exchange chairman Shih Jun-ji (施俊吉) said on the sidelines of the TWID launch event that Taiwan needs to make a critical transition to a more advanced trading mechanism on the local bourse.
While most brokerages have agreed to adopt the trade-by-trade mechanism that would speed up matching of market orders and allow investors to take advantage of improved pricing information, a number of smaller brokerages have opposed the change, he said.
The change is to proceed, despite the opposition from the few holdouts, Shih said, adding that governing bodies would provide funding and technical support to help brokerages make the transition.
SETBACK: Apple’s India iPhone push has been disrupted after Foxconn recalled hundreds of Chinese engineers, amid Beijing’s attempts to curb tech transfers Apple Inc assembly partner Hon Hai Precision Industry Co (鴻海精密), also known internationally as Foxconn Technology Group (富士康科技集團), has recalled about 300 Chinese engineers from a factory in India, the latest setback for the iPhone maker’s push to rapidly expand in the country. The extraction of Chinese workers from the factory of Yuzhan Technology (India) Private Ltd, a Hon Hai component unit, in southern Tamil Nadu state, is the second such move in a few months. The company has started flying in Taiwanese engineers to replace staff leaving, people familiar with the matter said, asking not to be named, as the
The prices of gasoline and diesel at domestic fuel stations are to rise NT$0.1 and NT$0.4 per liter this week respectively, after international crude oil prices rose last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to rise to NT$27.3, NT$28.8 and NT$30.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to rise to NT$26.2 per liter at CPC stations and NT$26 at Formosa pumps, they said. The announcements came after international crude oil prices
SinoPac Financial Holdings Co (永豐金控) is weighing whether to add a life insurance business to its portfolio, but would tread cautiously after completing three acquisitions in quick succession, president Stanley Chu (朱士廷) said yesterday. “We are carefully considering whether life insurance should play a role in SinoPac’s business map,” Chu told reporters ahead of an earnings conference. “Our priority is to ensure the success of the deals we have already made, even though we are tracking some possible targets.” Local media have reported that Mercuries Life Insurance Co (三商美邦人壽), which is seeking buyers amid financial strains, has invited three financial
CAUTION: Right now, artificial intelligence runs on faith, not productivity and eventually, the risk of a bubble will emerge,’ TIER economist Gordon Sun said Taiwanese manufacturers turned more optimistic last month, ending a five-month streak of declining sentiment as concerns over US tariffs, currency volatility and China’s overcapacity began to ease, the Taiwan Institute of Economic Research (TIER) said yesterday. The manufacturing business confidence index rose 1.17 points from June to 86.8, its first rebound since February. TIER economist Gordon Sun (孫明德) attributed the uptick to fading trade uncertainties, a steadier New Taiwan dollar and reduced competitive pressure from Chinese producers. Taiwan’s semiconductor industry is unlikely to face significant damage from Washington’s ongoing probe into semiconductors, given the US’ reliance on Taiwanese chips to power artificial
RSS