Source: Transaction Network Services (TNS)
Yuanta Core Pacific Securities, Taiwan's leading securities broker by market capitalisation, has appointed Transaction Network Services (TNS) to provide its clients with electronic access to its trading systems.
TNS' Secure Trading Extranet will give Yuanta's clients fast, secure and reliable access to the broker's extensive network of financial services.
With over eight per cent of the market, Yuanta processes the largest share of daily turnover in Taiwan's equity markets. Yuanta stands among the top three futures brokers there and provides access to securities trading, research, investment banking, online trading, mutual funds, fixed income and derivative products.
William Moomaw, institutional equity sales, Yuanta, said: "We had long been familiar with TNS' systems and capabilities. The TNS network will complement the investment we've already made in designing, building and maintaining our own advanced in-house brokerage system that's set the benchmark for this market.
"Clients worldwide are demanding electronic access to this market and to service this demand we require a company with a worldwide presence and a reputation for good service and reliability. A recommendation from one of our customers led us to choose TNS to support our rapid growth plans.
"We're always looking at ways to develop and improve trading facilities for our clients, and we felt TNS had the perfect combination of innovation, advanced technology and industry expertise to help us do this."
The new deal will allow TNS' customers, who are already on TNS' extranet, to access Yuanta's brokerage network.
John Pilch, sales director (Asia Pacific) with TNS, said: "Yuanta has achieved remarkable success since venturing into electronic trading three years ago. Using our connectivity for transaction authorisation and processing will enable Yuanta to concentrate on growing its business and on building stronger client relationships. We look forward to supporting Yuanta in maintaining its leadership position in the securities industry in Taiwan.
"Since its inception in the US, TNS has expanded internationally, boasting a presence in 28 countries and providing in-country operations wherever the market requires innovative and proven connectivity. Our global activity reflects the increasingly international nature of the transactions market.
"Online trading is a much smaller proportion of the total volume in Taiwan, than the US for example, and we believe there is enormous growth potential in this field. We're excited to be helping the Taiwanese online market realise its full potential."