Taiwan set to automate fund processing

Members of the newly formed Taiwan Fund Operation Group will hold their first meeting in early March to establish best practices for automating cross border mutual fund orders and confirmations using SWIFT message protocols. Members of the group include some of the most active distributors in the country such as Chinatrust Commercial Bank, Taishin Bank and First Commercial Bank, as well as large fund houses such as Fidelity, Invesco, Schroders and Alliance Capital.