After Taiwan Shin Securities merged with Yuanta Fuh, its system crashed again: an ordering anomaly caused duplicate trades, reportedly leading to over 1億 yuan credited to the wrong accounts

Taishin Securities and Yuanfu Securities officially completed their merger on April 6. Following the merger, they moved up to become Taiwan’s fourth-largest brokerage. However, after the merger, their electronic trading system repeatedly experienced malfunctions.

According to reports from United News Network and Yahoo Markets, on April 14 the Taiwan stock market’s order-routing system malfunctioned again during intraday trading. Some users reported that after placing orders, they could not confirm trades, leading to repeated orders. Rumors in the market indicated that the mistyped/accounting discrepancy amount exceeded NT$100 million.

Event timeline

Starting at around 9:10 a.m. on April 14, Taishin Securities’ electronic trading platform showed abnormal behavior involving both placing orders and order reports that were delayed beyond expected timeframes. After investors placed orders, the system displayed “communication failure.” Some users mistakenly thought it was a network issue and placed duplicate orders. About an hour later, when the system recovered, all submitted orders simultaneously showed as executed, resulting in unintended duplicate trades.

Multiple investors also reported that during the malfunction period, the order-cancellation function was also down, preventing them from canceling mistakenly placed orders in real time. The customer service hotline was overwhelmed by a large volume of calls, and some users said no one answered the phone.

Not the first incident after the merger

This was not the first time a system problem occurred after Taishin Securities’ merger. On April 7 (the first trading day after the merger), issues such as the app being unable to place orders and incorrect inventory displays emerged, and the problems continued into April 8. At the time, the Financial Supervisory Commission’s Securities and Futures Bureau had already instructed Taishin Securities to report it as a “major incident,” and sent personnel from the Taipei Exchange to conduct a review.

Date / Event April 6 Taishin Securities and Yuanfu Securities formally completed the merger and became effective April 7 First trading day after the merger; the app crashed, unable to place orders, incorrect inventory display April 8 The problem continued; the Financial Supervisory Commission required reporting as a major incident; dispatched Taipei Exchange personnel for review April 14 During the day Taiwan stocks broke through the 36,000-point mark; the order system malfunctioned again, with reports that the mistyped/accounting discrepancy exceeded NT$100 million

Taishin Securities’ response

Taishin Securities said it carried out system checks and corrections immediately. Currently, all trading platforms have resumed normal operations, and real-time accounting data is being restored and supplemented in stages. The company promised to “ensure that each customer’s rights and operational needs are properly handled.” Customers can confirm their trading account status through the customer service hotline or their assigned sales representative.

Regarding reports that the mistyped/accounting discrepancy amount exceeded NT$100 million, Taishin Securities said it is “still investigating,” and that it needs to further review with customers after market close to confirm the specific amount.

Subsequent handling by the Financial Supervisory Commission

Wang Xiuling, Secretary-General of the Financial Supervisory Commission’s Securities and Futures Bureau, said Taishin Securities had reported the major incident on the first trading day after the merger, and the Taipei Exchange is conducting a review. If the review results determine violations of internal control and internal auditing-related regulations, the maximum penalty under the rules could be up to NT$4.8 million. The related review report is expected to be released on April 16.

This article: Taishin Securities’ system again crashes after merging with Yuanfu: order anomaly leads to duplicate trades; reports of accounting discrepancies exceeding hundreds of millions. The earliest appearance was on 链新聞 ABMedia.