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TAIFEX, the Taiwan Futures Exchange, and Eurex Exchange, the international derivatives marketplace and part of Deutsche Börse Group, today announced their plan to launch the Eurex/TAIFEX Link on 15 May 2014. With this link, Eurex Exchange will list TAIEX futures and options as daily expiring futures on Eurex Exchange. Derivatives on the TAIEX index are one of the most heavily traded Asian equity index contracts.
The cooperation has also been approved by Taiwan’s regulator Financial Supervisory Commission. They stated that they encourage the development of mutually beneficial endeavors of this kind.
Dr. Fan, Chairman of TAIFEX, said: “We are excited about our tie-up with Eurex and the launch of the Eurex/TAIFEX Link, which enables global investors to trade TAIEX futures and options after Taiwanese market hours. The ability to transfer open positions to TAIFEX will also enhance the efficiency and increase the liquidity and depth of Taiwan's derivatives market. This cooperation is a win-win for our two market places.”
Andreas Preuss, CEO of Eurex, commented: “With this link, we further broaden our presence in Asia and complement our global product suite. Our members will benefit from direct access to one of the most successful index derivatives contracts in Asia, while Taiwanese market participants will be able to trade Taiwan’s most liquid index derivatives contracts during Taiwanese after hours. This will also attract new customers for TAIEX products outside of Taiwan.”
The link will further increase the liquidity and efficiency of the Taiwanese derivatives market. In 2013, average daily volume (ADV) of TAIEX was around 95,000 futures contracts and 455,000 options contracts. The options are the fourth most heavily traded index derivatives contract in Asia-Pacific and are ranked no. 6 worldwide in the first ten months of 2013.
About Eurex Exchange
Eurex Exchange is one of the world’s leading derivatives exchanges, serving a growing global distribution network. It offers more than 1,900 products covering all major as well as alternative asset classes. Our marketplace – based on innovative IT infrastructure – is gateway to the most heavily traded euro-denominated equity index and fixed-income derivatives. As part of Eurex Group, we provide access to a global liquidity network with daily trading volumes exceeding 9 million contracts together with the International Securities Exchange (ISE) and the European Energy Exchange (EEX).
Eurex Exchange uses Eurex Clearing, one of the leading central counterparties globally.
Eurex Group is comprised of Eurex Exchange, the International Securities Exchange (ISE), the European Energy Exchange (EEX), Eurex Clearing, Eurex Bonds and Eurex Repo.
Eurex Group is owned by Deutsche Börse AG (Xetra: DB1).
About TAIFEX
Established in 1997, TAIFEX currently offers 18 products, including stock index futures and options, interest rate futures, single stock futures, equity options and gold futures and options. TAIFEX’s flagship products TAIEX futures and TAIEX options are two of the most successful equity index derivatives contracts in Asia. On November 14, 2012, TAIFEX launched weekly TAIEX Options to better meet market demand. Following launch of the weekly product, the average daily volume of TAIEX Options soared 13% compared to the same period last year. According to FOW TRADEdata, for the first 10 months of 2013, TAIEX options were ranked #4 index options contracts in Asia, or #6 in the world. TAIFEX introduced single stock futures (SSFs) on January 25, 2010, aiming to provide stock investors with better hedging tools and reduce tracking errors. According to FOW TRADEdata, TAIFEX’s SSFs were ranked #11 worldwide in the first 10 months of 2013.
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