(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)