Taiwan Exchange to Launch EUR/USD and USD/JPY Futures in November

The Taiwan Futures Exchange (TAIFEX) will introduce new FX futures products from next month to complement the currency derivatives offering and provide investors with more hedging tools, a senior exchange official told Reuters.

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TAIFEX unveiled Monday the two new currency futures contracts will be launched on November 7, 2016 and include the euro against the U.S. dollar (EUR/USD) and the U.S. dollar against the yen (USD/JPY).

The two new futures contracts are a follow-up to Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term products launched by the TAIFEX in recent months including two yuan-denominated futures contracts (USD/CNT and USD/CNH) that were introduced by the exchange to the local market last year. The move was aimed at expanding Taiwan's futures market as the country has signaled its ambition to become an offshore yuan trading canter.

Established in 1997 as the sole futures exchange in Taiwan, TAIFEX offers trading in futures and options across several asset classes including equities, indices, FX, interest rates and commodities.

The Market Makers Market Makers Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Read this Term for the new offering include Sinopac Financial Holdings Co, Yuanta Financial Holdings Co, KGI Securities and Capital Futures Corp.

The island's futures exchange is planning the EUR/USD and USD/JPY instruments to be with contract sizes of EUR 20,000 and USD 20,000 respectively.