Approved foreign exchange business in August 2016

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

1.    KGI Bank, Yuanta Commercial Bank, Chang Hwa Commercial Bank, Land Bank of Taiwan and DBS Bank(Taiwan) to engage in electronic transaction businesses involving foreign exchange.

2.    KGI Bank and Bank SinoPac to serve as liquidity providers for foreign currency ETFs listed on Taiwan Stock Exchange.

3.    Yuanta Futures to accept the designation of overseas Chinese and foreign nationals to conduct foreign currency discretionary futures business.

4.    Baring SICE (Taiwan) Limited to act as the domestic trustee of private placement offshore funds to manage the sale of funds to specific clients.

5.    6 branches of 2 banks to operate foreign exchange business. As of the end of August 2016, there were 3,419 authorized banks, including 3,379 domestic banks, 3 Mainland banks and 37 foreign banks.