Taiwan Futures Exchange
| Taiwan Futures Exchange (Taifex) | |
| |
| Founded | 1997 |
|---|---|
| Headquarters | Taipei, Taiwan |
| Key People | Tony C. Fan, Chairman; Peter Chiu, President |
| Products | Futures and options on equity indexes; options on equities; futures on government bonds and interest rates, and gold futures |
| Website | www.taifex.com |
The Taiwan Futures Exchange (TAIFEX) is a 100 percent electronic trading marketplace that currently offers futures and options on major Taiwan stock indices, government bond futures, equity options and 30-day commercial paper interest rate futures.[1] It offers interface compatibility for foreign FCMs to connect to the market. Foreign investors can participate in the TAIFEX futures market through direct accounts and omnibus accounts. The TAIFEX Clearing House is a department of the exchange.
The Taiwan Futures Exchange ranked as the world's 17th largest derivatives exchange by volume in 2018. Total volumes for the year were 308 million contracts, up 15% from a year earlier, according to the Futures Industry Association's latest volume rankings.[2]
History[edit]
TAIFEX was established in 1997 and began trading in July 1998.
TAIFEX was issued a Part 30 exemption by the Commodity Futures Trading Commission on March 23, 2007, which allows foreign boards of trade to solicit and accept orders from U.S. customers without registering with the CFTC.[3] The exemption allows designated TAIFEX members to market TAIFEX products in U.S. directly to the U.S. investors and indicates that TAIFEX has met with the international standards. In October 2011, TAIFEX became a full member of the World Federation of Exchanges.[4]
In October 2012, the exchange signed a memorandum of understanding (MOU) with NYSE Euronext to connect their respective customer bases in Asia, Europe and the U.S. through NYSE Euronext’s order routing system and to explore additional ties.[5]
In February 2013, TAIFEX entered into a deal with Germany's Eurex to establish a link between the two exchanges, beginning with the ability to trade and clear derivatives based on the TAIEX equity index. [6] Then, on December 27, 2013, Eurex assumed a five percent stake in TAIFEX with the purchase of 12.92 million shares of the exchange from Yuanta Financial Holdings. The deal was valued at $42 million.[7] In May of 2014 Eurex and TAIFEX began listing daily futures based on futures and options on the Taiwanese blue-chip index TAIEX for the first time after Taiwanese trading hours at Eurex Exchange.[8]
Annual Volumes[edit]
| Year | Total Annual Volume | Percent Change |
| 2018 | 308,302,535 | 15.9% |
| 2017 | 265,705,669 | 9.9% |
| 2016 | 241,678,556 | (-)8.6% |
| 2015 | 264,495,660 | 30.7% |
| 2014 | 202,227,653 | 32.0% |
| 2013 | 153,225,238 | (-)2.2% |
| 2012 | 156,731,912 | (-)14.4% |
| 2011 | 182,995,171 | 30.9% |
| 2010 | 139,792,891 | 3.5% |
| 2009 | 135,125,695 | (-)1.2% |
Products[edit]
- TAIFEX TAIEX Futures
- TAIFEX Electronic Sector Index Futures
- TAIFEX Finance Sector Index Futures
- TAIFEX MiNi-TAIEX Futures
- TAIFEX Taiwan 50 Futures
- TAIFEX 10-Year Government Bond Futures
- TAIFEX 30-Day Commercial Paper Interest Rate Futures
- TAIFEX Gold Futures
- TAIFEX NonFinance NonElectronics Sub-Index Futures
- TAIFEX GreTai Securities Market Stock Index Futures
- TAIFEX NT Dollar Gold Futures
- TAIFEX Single Stock Futures
- TAIFEX ETF Futures
TAIFEX plans to launch two RMB FX futures contracts, the USD/CNT FX futures (RTF) and the USD/CNH FX futures (RHF) on July 20, 2015. RTF and RHF will have contract sizes of USD 20,000 and USD 100,000 respectively. Trading hours for both contracts will be from 8:45am to 4:15pm to cover the trading hours of the Taiwanese interbank spot FX market.
ESG at TAIFEX[edit]
Information about TAIFEX's corporate commitment to ESG can be found on its website here.
Key People[edit]
- Chien-Lung Chou, CEO
- Tony C. Fan, Chairman
- Peter Chiu, President
References[edit]
- ↑ About Us. Taiwan Futures Exchange.
- ↑ 2018 Annual Volume Survey. Futures Industry.org.
- ↑ Foreign Part 30. TAIFEX.
- ↑ Taiwan Futures Exchange Becomes Full Member Of The World Federation Of Exchanges. MondoVisione.
- ↑ NYSE Euronext and Taiwan Futures Exchange Sign Memorandum of Understanding. TAIFEX.
- ↑ TAIFEX broadens international reach with Eurex deal. The Trade News.
- ↑ Taiwan Futures Exchange Gets International Boost with Eurex Shareholding. Forex Magnates.
- ↑ Eurex Acquires Stake in Taiwanese Futures Exchange TAIFEX. Mondovisione.