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Taiwan's TAIFEX overtakes CME to win Global Exchange of the Year.

The Taiwan Futures Exchange (TAIFEX) wrapped up 2017 with exceptional international awards and another record-breaking trading volume of futures contracts, which exceeded 265 million contracts in 2017 alone.

The exchange took home the 'Global Exchange of the Year' at FOW in December 2017, becoming the first regional market to scoop the award after years of impressive growth and innovation, including the launch of the world's first offshore RMB options, two RMB futures contracts (USD/CNT and USD/CNH FX futures), Nifty futures and Taiwanese dollar denominated S and P and DJIA futures, and an after-hours trading session to boost capacity and cut latency.

TAIFEX overtook Hong Kong, Singapore, Japan and other major regional exchanges in the Asia-Pacific region at the first run, and then saw off its prestigious counterparts in Europe and America, including European Energy Exchange and Chicago Mercantile Exchange, to clinch the top award. It is said to be the first regional exchange to make it this far.

The exchange recently launched two new FX futures contracts - GBP/USD and AUD/USD-to expand its product diversification to better serve customers, offering up to eight futures on different currency pairs. The exchange also rolled out the dynamic price banding mechanism designed to stabilize price fluctuations applicable to the spot month and next calendar month contracts of TAIEX and mini-TAIEX, and that is set to expand to other stock index futures in 2018.

In a press briefing on Tuesday, TAIFEX Chairman Liu Len-yu said he has high hopes for the exchange, saying the company will continue its efforts by adding a variety of new products and bringing trading mechanisms more in line with global markets. Liu also announced plans for 2018 that include the launch of RHF and RTF Index Futures, Nasdaq Index Futures, and having more futures products available at after-hours trading sessions.

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Publication:Taiwan News (Taipei, Taiwan)
Date:Jan 30, 2018
Words:342
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