For government bonds traded over-the-counter, investors and their brokers can agree on their own to settle the transaction within T+2 (two business days after trade day). Payment for settlement can be made via remittance or a Bank of Taiwan check. Delivery of book-entry central government bonds shall be made through the clearing bank system for transfer and registration. Government bonds traded through EBTS system are settled on T+2 on a delivery versus payment basis. RP/RS trades are commonly settled on trade day.
Paperless bonds are registered with the Central Bank through clearing banks and physical bonds are kept by custodian banks.