Yuanta Financial Holdings said consolidated brokerage revenue for October hit NT$12.8 billion, beating the internal plan its executives filed before the National Stabilization Fund’s tenth deployment began touching the cash market.
The group attributed the beat to heavier retail turnover in the final ten sessions of October, when the Taiwan Weighted Index whipsawed between biotechnology losses and memory-chip rebounds. Subsidiary Yuanta Securities carried most of the lift, while KG Securities and Masterlink added smaller share gains as cross-selling desks pushed margin-trading top-ups.
Where the commissions landed
Chief Financial Officer Dennis Hsu told reporters on a Monday briefing that cash equity commissions rose 14 percent month on month, while futures and options fees climbed at a slower 6 percent pace because the Financial Supervisory Commission’s new short-sale throttle kept day-trading velocity in check. Wealth-management fee income was flat as foreign-exchange hedging costs ate into structured-note margins.
October’s average daily turnover on the Taiwan Stock Exchange reached NT$409 billion, according to exchange data Yuanta cited in its filing. That was the highest since late September but still below the NT$480 billion peak dealers saw before the biotechnology subindex sold off.
Funding costs and dividend talk
Hsu said the parent’s cost of funding held near 1.62 percent on Taiwanese-dollar deposits, giving brokerage units room to keep promotional rates on revolving margin loans unchanged through November. Board members did not announce a revised dividend policy, though investors asked whether the stronger October book could support a higher 2026 payout ratio if foreign selling eases.
Yuanta shares closed up 1.2 percent on the day of the briefing, lagging the broader financial subindex as traders waited for Cathay Financial and Fubon Financial to report their own October metrics later in the week.
What desk strategists are watching
Analysts at two local houses said the key test for Yuanta’s fourth quarter is not another revenue beat but whether clients keep trading after the TWSE enforces its 3 percent short-sale volume cap on individual issues. If turnover fades while stabilization buying withdraws, commission growth could flatten even when the index stabilizes.
Hsu said Yuanta is staffing its options education hotline through year-end and will publish a bilingual guide on the new shorting rules before the December futures roll. The company plans to release full third-quarter earnings on November 14.