The Taiwan Futures Exchange (TAIFEX) has launched three new derivative contracts – a Taiwan Dollar (TWD)-denominated Nifty 50 Futures contract, and two FX futures contracts: EUR/USD FX Futures and USD/JPY FX Futures.
Len-Yu Liu (pictured), chairman of the TAIFEX, says: “We are extremely pleased to be launching these new futures contracts. The Nifty 50 contract is the second foreign equity index product to debut on TAIFEX and aligns with our ongoing effort to introduce more overseas products to the Taiwan futures market.
“The EUR/USD FX Futures and USD/JPY FX Futures further expands the range of foreign currency products available on TAIFEX – an asset class that is proving popular with our customers. We look forward to developing more innovative products to help investors hedge and trade more effectively in the future.”
The Nifty 50 futures contract tracks the Nifty 50 Index, the most widely used Indian benchmark that comprises 50 companies and represents approximately 66 per cent of the free float market capitalisation of the companies listed on India’s National Stock Exchange (NSE). The contract size is TWD50 per index and will trade from 8:45am to 6:15pm Taiwan local time.
The contract sizes of the EUR/USD FX Futures and USD/JPY FX Futures are EUR20,000 and USD20,000, respectively, and will trade from 8.45am to 4.15pm Taiwan local time.