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9 months ago
CORRECTED-Taiwan to launch more forex futures contracts in November -exchange official
October 17, 2016 / 10:46 AM / 9 months ago

CORRECTED-Taiwan to launch more forex futures contracts in November -exchange official

2 Min Read

(Corrects third paragraph to read Sinopac Financial Holdings instead of Mega Financial Holding Co)

TAIPEI, Oct 17 (Reuters) - Taiwan will begin trading two additional foreign exchange futures contracts next month, the euro against the U.S. dollar and the U.S. dollar against the yen, as a way to expand the island's currency derivatives market, a senior exchange official said Monday.

The two new currency futures contracts will be launched on November 7 and the move will give firms in Taiwan, many of them trade-oriented, more hedging tools, Liu Len-yu, chairman of the Taiwan Futures Exchange, told Reuters.

The banking and securities arms of Sinopac Financial Holdings Co ; the securities arm of Yuanta Financial Holdings Co ; KGI Securities, part of China Development Financial Holding Corp ; and Capital Futures Corp will be market makers for the two new contracts, Liu said.

The contract size for the EUR/USD forex futures will be 20,000 euros, while the contract size for the USD/JPY forex futures will be $20,000, according to exchange plans.

The exchange currently offers futures trading in the U.S. dollar against the Chinese yuan. (Reporting by Roger Tung; Writing by J.R. Wu; Editing by Greg Mahlich)

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