Bangkok--9 Apr--SET
The Taiwan Futures Exchange (TAIFEX) and Thailand Futures Exchange (TFEX) today announced the signing of a Memorandum of Understanding (MOU) to strengthen the cooperation for their mutual market development. The agreement aims to foster closer ties and to establish a channel for information exchange in various areas of operations. It also allows both exchanges to explore the business cooperation opportunities which will enhance the liquidity, efficiency and integrity of the both markets. The signing ceremony was held in Bangkok and was witnessed by Ms. Patareeya Benjapolchai, President of the Stock Exchange of Thailand (SET), Ms. Kesara Manchusree, the Managing Director of TFEX and Dr. William Lin, the Supervisor of TAIFEX. The guests of honor included Mr. Tang-Chieh Wu, Director-General of Securities and Futures Bureau of Taiwan (SFB), and Mr. Gordon S. Chen, Chairman of Taiwan Stock Exchange Corp. (TSEC).
Mr. Vijit Supinit, Chairman of TFEX, said, ”The signing of the MOU is an important step for TFEX in the development of our already fruitful relationship with the TAIFEX. We are pleased to work closely in exploring the cooperation opportunity that could be a substantial advantage for investors in both markets.”
Ms. Kesara Manchusree, TFEX ‘s managing Director, added that “TAIFEX is one of the leading markets with an impressive performance in recent years. We are honored to have this agreement with TAIFEX. Based on this agreement, TFEX and TAIFEX have already discussed the framework of our future collaborative plan. Our starting point will be a co-educational project on index option which is expected to be launched in TFEX in late 2007. As TAIFEX is one of the world leaders in index options product, it would be very beneficial to learn from TAIFEX successful experience to promote such product in the Thai market.”
TAIFEX Chairman Dr. Rong-I Wu said, “Globally, exchanges are facing unprecedented challenges, in particular in the area of market integration and organizational changes. As a result, international collaboration and strategic alliance have become urgent issues for exchanges to tackle. The signing of MOU will provide a platform for TFEX and Taifex to share their experiences, explore opportunities for cooperation, and meet such challenges.”
About TAIFEX:
Since the launch of its first product (TAIEX Futures) in 1998, TAIFEX has experienced tremendous growth. According to FIA, as of end of 2006, TAIFEX’s was ranked 18th globally in terms of trading volume. The TAIEX Options, TAIFEX’s flagship product, is the fourth-most actively traded stock index options contract in the world. TAIFEX currently offers 14 products, including futures and options on major Taiwan stock indices, government bond futures, 30-day commercial paper interest rate futures, equity options and gold futures. To further expand the market, TAIFEX has actively taken measures to facilitate internationalization and to boost foreign participation. On March 27 2006, TAIFEX launched three US dollar-denominated products, including TAIFEX Gold Futures, TAIFEX MSCI Taiwan IndexSM Futures and TAIFEX MSCI Taiwan IndexSM Options. In conjunction with the launch of these new products, TAIFEX has taken several market liberalization measures to attract foreign participation. Among other measures, it now allows trading for non-hedging purposes by foreign investors, has introduced omnibus accounts, and accepts US dollar as margin deposit to keep in line with international practices. For more information about the TAIFEX, please contact the Business Development Department at 886-2-2369-56788, or visit website www.taifex.com.tw
About TFEX:
The Thailand Futures Exchange Public Company Limited is a wholly-owned subsidiary of The Stock Exchange of Thailand (SET). TFEX is a fully electronic exchange with an integrated trading and clearing platform developed by OMX technology. TFEX lunched its first contract “the SET50 index futures” in April 2006. It is expected to lunch the SET50 Options in Q3/2007. For more information about the TFEX, please contact the Product & Business Development Department at 662-229-2758, +662-229-2760 or visit website www.tfex.co.th
For more information please contact:
TFEX
Media Contacts:
Ladawan Kantawong +662 229 2036
Sarinluck Jitkawong +662 229 2037
[email protected]
TAIFEX
Media Contacts:
Denise Huang,+886-2-23663157
Sarah Chiu,+886-2-23663242
[email protected]