Total volume of 100,000 contracts exceeded
On 6 October 2014, Daily Futures on TAIEX Options and Futures contracts traded on Eurex Exchange have recorded over 100,000 contracts in total since launch in May 2014 (total volume 100,242 contracts). The Eurex/TAIFEX Link has been developed by the international derivatives market Eurex and Taiwan Futures Exchange, TAIFEX.
“The Eurex/TAIFEX Link extends the trading time of TAIEX futures and options to European and U.S. core trading hours and creates an overnight market for our market participants. International traders can access the highly liquid Taiwanese equity derivatives market via the Link. Additionally, the transfer of open positions to TAIFEX not only increases the breadth and depth of Taiwan derivatives market but also strengthens the linkage between the two markets,” said Peter Chiu, President of TAIFEX.
“We are very delighted that our idea of creating an overnight market for TAIEX index derivatives has been well received by international investors and traders. The Eurex/TAIFEX Link provides market participants with hedging opportunities for TAIFEX positions and with additional trading possibilities as the global market fluctuates,” said Michael Peters, member of the Eurex Executive Board.
Both partners are encouraged by the quick market acceptance and have since elaborated further on additional cooperation formats which would be mutually beneficial.
Volumes are expected to rise further as TAIFEX and Eurex continue to develop the after-hours market for these contracts. The number of active end-customers as well as participating Eurex and TAIFEX members continues to expand. At the launch, 19 TAIFEX and 11 Eurex Exchange members were able to trade the Eurex TAIFEX products; today, the total number has increased to 33. A promising number of further members are currently preparing to participate in the Link.
In September 2014, the average daily volume (ADV) in the Eurex TAIFEX Products was 1,235 contracts.
