Taiwan Futures Exchange

From MarketsWiki
Revision as of 16:53, 28 April 2011 by AlanDiNovo (Talk | contribs)

Jump to: navigation, search

Template:RTS adbox

Taiwan Futures Exchange (Taifex)
Taipex pic.jpg
Founded 1997
Headquarters Taipei, Taiwan
Key People Steve Wang, president; Joseph Tsai, chairman
Products Futures and options on equity indexes; options on equities; futures on government bonds and interest rates, and gold futures
Website http://www.taifex.com.tw/eng/eng_home.htm

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 CP 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 2010, moving up one position from the previous year. Total volumes for the year were up 3.5% from 2009, according to the Futures Industry Association's latest volume rankings for 2010.[2] The FIA report, published in March of 2011, states that the total amount of futures and options traded on the exchange was over 139.79 million contracts.

History

TAIFEX was established in 1997 and began trading in July 1998.

TAIFEX was issued a Part 30 Exemption by the CFTC on March 23, 2007.[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.

TAIFEX accepts two types of orders for execution - market orders and limit orders. However, an FCM may accept orders other than these two types at its own discretion, such as market-if-touched, stop, stop-limit, one-cancels-the-other, market-on-close, straight cancel, and cancel replace orders.[4]

Annual Volumes

2009

The Taiwan Futures Exchange ranked as the world's 18th-largest derivatives exchange by volume in 2009 but fell 1.2% on 2008's volume figure, according to the Futures Industry Association's volume rankings for 2009.[5] The FIA report, published in early April 2010, notes that that TAIFEX's largest contract by volume, Taiex Options, fell 22.3% in 2009 to 72.08 million.


Products

Five TAIFEX products have been granted no-action letters by Commodity Futures Trading Commission (CFTC) and are permitted to offer and sell in the U.S. These products are TAIEX Futures, Mini-TAIEX Futures, Electronic Sector Index Futures, Finance Sector Index Futures and TAIFEX MSCI Taiwan IndexSM Futures.

References

  1. About Us. Taiwan Futures Exchange.
  2. 2010 Annual Volume Survey. Futures Industry.com.
  3. TAIFEX Granted Part 30 Exemption by the CFTC. TAIFEX.
  4. Taiwan Futures Exchange. Association of Futures Markets.
  5. 2009 Annual Volume Survey. FIA magazine.