Citigroup Global Markets Taiwan Ltd has created an 11-member yield book and fixed-income index team to provide analytical tools and index information for fixed income securities to Asian financial institutional investors, including central banks, insurance companies and banks, a bank executive said yesterday.
“We have begun to see rapid growth in this business in Asia and hope to capitalize on these opportunities,” said Susan Lin (林瑩慧), managing director of international development.
Increasing foreign reserves have also forced the region’s financiers to look for means to better manage their investment portfolios, she said, adding that the Taiwan team would work as a hub in Asia to serve clients in Japan, South Korea and greater China.
The team was established in Taiwan because the nation’s financial talent with analytical expertise and language advantages outperformed their peers in Hong Kong and Singapore, Lin said.
The new team will supplement the US team, which was created alongside the launch of its Yield Book fixed income analytical system in 1989, initially for Salomon Brothers Inc, to facilitate 24-hour services.
The bank’s yield book system, which was priced at a minimum of US$5,000 per month there on an annual contract basis, has attracted 400 clients worldwide including central banks, global insurers and pension funds, she said.
Taiwan’s technology protection rules prohibits Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) from producing 2-nanometer chips abroad, so the company must keep its most cutting-edge technology at home, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. Kuo made the remarks in response to concerns that TSMC might be forced to produce advanced 2-nanometer chips at its fabs in Arizona ahead of schedule after former US president Donald Trump was re-elected as the next US president on Tuesday. “Since Taiwan has related regulations to protect its own technologies, TSMC cannot produce 2-nanometer chips overseas currently,” Kuo said at a meeting of the legislature’s
GEOPOLITICAL ISSUES? The economics ministry said that political factors should not affect supply chains linking global satellite firms and Taiwanese manufacturers Elon Musk’s Space Exploration Technologies Corp (SpaceX) asked Taiwanese suppliers to transfer manufacturing out of Taiwan, leading to some relocating portions of their supply chain, according to sources employed by and close to the equipment makers and corporate documents. A source at a company that is one of the numerous subcontractors that provide components for SpaceX’s Starlink satellite Internet products said that SpaceX asked their manufacturers to produce outside of Taiwan because of geopolitical risks, pushing at least one to move production to Vietnam. A second source who collaborates with Taiwanese satellite component makers in the nation said that suppliers were directly
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EXPORT CONTROLS: US lawmakers have grown more concerned that the US Department of Commerce might not be aggressively enforcing its chip restrictions The US on Friday said it imposed a US$500,000 penalty on New York-based GlobalFoundries Inc, the world’s third-largest contract chipmaker, for shipping chips without authorization to an affiliate of blacklisted Chinese chipmaker Semiconductor Manufacturing International Corp (SMIC, 中芯). The US Department of Commerce in a statement said GlobalFoundries sent 74 shipments worth US$17.1 million to SJ Semiconductor Corp (盛合晶微半導體), an affiliate of SMIC, without seeking a license. Both SMIC and SJ Semiconductor were added to the department’s trade restriction Entity List in 2020 over SMIC’s alleged ties to the Chinese military-industrial complex. SMIC has denied wrongdoing. Exports to firms on the list
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