NYSE Euronext and the Taiwan Futures Exchange (TAIFEX) have signed a memorandum of understanding to explore bilateral business opportunities and connect their respective customer bases in Asia, Europe and the US through NYSE Euronext’s order routing system.
This alliance will support the development of the exchanges’ futures and options markets.
The agreement will serve as a framework for closer cooperation between the exchanges in order to develop products, establish a two-way order routing partnership to facilitate reciprocal order flow and explore distribution channels for key products. The exchanges also intend to share information, best practices and resources.
“Taiwan is a major trading market for futures and options in Asia and as a group, NYSE Euronext is actively seeking strategic opportunities that enhance our regional footprint,” says Dominique Cerutti, president and deputy chief executive, NYSE Euronext. “Our pioneering derivatives markets are complemented by our rich and unique global community, which is growing in Asia. This partnership with TAIFEX demonstrates our commitment to unlocking markets and developing innovative solutions that benefit our global customer base and the region.”
“In response to the rapidly changing global financial landscape, collaboration between exchanges has become increasingly important,” says Steve Wang, president of TAIFEX. “We believe TAIFEX and NYSE Euronext will leverage unique knowledge from each other’s market, and the partnership facilitating the future cross-border arrangement will benefit both exchanges and better serve the markets.”
The MOU paves the way for potential joint business initiatives between the two exchanges.