TAIPEI: The Taiwan Futures Exchange (TAIFEX) awarded 43 financial institutions for their dedication to promoting growth in futures trading, enabling win-win solutions for risk-averse investors and brokers.
The Taiwan futures exchange has continued to gain momentum year after year thanks to its ever-expanding product lines and longer trading hours that address the massive hedging needs of Taiwan’s institutional and retail investors amid market turbulence. In 2018, the total contracts and average daily trading volume grew by 15.95 percent and 15.48 percent, respectively.
At the award ceremony on Tuesday, TAIFEX Chairman Sheu Yu-jer (許虞哲) said the company remains dedicated to enhancing product variety following the launch of foreign exchange products (GBP/USD, AUD/USD, EUR/USD, USD/JPY, USD/CNT, and USD/CNH FX Futures), foreign index products (TOPIX, Nasdaq-100, S&P 500, and DJIA Futures), and commodity products (Gold Futures, NTD Gold Futures, Brent Crude Oil Futures, and Gold options) in recent years.
Financial Supervisory Commission (FSC) Chairman Wellington Koo (顧立雄) attributed the growth to TAIFEX’s introduction of after-hour trading sessions to avoid sharp price movements. Koo said that night trading accounts for a larger share of daily trading volume: “It was 5.15 percent upon launch in May of 2017, but it hit 30 percent in August of 2019 and was once up to 46 percent amid the U.S.-China trade war pessimism and uncertainty.”
Entering its fifth year, the awards are given out to financial institutions that outperform in trading futures. This year’s include the following:
Yuanta Futures, KGI Futures, President Futures, KGI Securities, SinoPac Securities, Capital Securities, Optiver Futures, IBF Securities, JPMorgan Chase, Mega Futures, Morgan Stanley Securities (Taiwan), Hua Nan Securities, JihSun Securities, First Securities, Fubon Financial, FH Trust, Cathay Securities, Taishin Securities, HSBC, CTBC Bank, Shanghai Commercial and Savings Bank, DBS Bank, Cathay Life, Chunghwa Post, and Bank of China Taipei Office.