TAIFEX total trading volume in 2015 hits record rising 30% YoY; exploring RMB options for 2016


Just released today from Taiwan Futures Exchange (TAIFEX) shows trading volume at the Asia-Pacific exchange ended 2015 with a total of 264,495,660 contracts (last high recorded in 2014: 202,411,093 contracts), an all-time high since the open of business and its first time to exceed the 1 million benchmark in average daily trading volume (1,083,999 contracts).

Comparing to 2014, total trading volume and average daily trading volume in 2015 posted growths of 30.67% and 32.81%, respectively. In terms of product types, total trading volume of futures in 2015 increased 43.94% from 2014, while for options it was an increase of 26.31%. Among the four major products – TAIEX Options (TXO), TAIEX Futures (TX), Mini-TAIEX Futures (MTX) and Single Stock Futures, MTX showed the greatest growth of 58.22% from 2014 (total trading volume in 2015: 21,021,527 contracts), while Single Stock Futures (including ETF Futures) marked the second, with a growth of 50.6% (total trading volume in 2015: 14,319,305 contracts).

The year of 2015 was a vigorous one for TAIFEX, in which TAIFEX introduced a number of new products and mechanisms including the launch of RMB FX Futures, Tokyo Stock Price Index (TOPIX) Futures, ETF Options, and the extension of trading hours on ETF Futures and Options linked to China stock indices.

  • The Launch of Taiwan’s First FX Futures – RMB FX Futures: The 2 RMB Futures (USD/CNT and USD/CNH FX Futures) launched in July 2015 furthered TAIFEX’ growth in trading volume. In less than 6 months, the 2 products combined recorded a total of 1,153,203 contracts traded in 2015 (average daily trading volume: 9,942 contracts).
  • The Launch of Taiwan’s First Foreign Equity Index Futures – TOPIX Futures: To diversify its product offerings, in December 2015, TAIFEX launched a New Taiwan Dollar-denominated index futures contract tracking the performance of Tokyo’s stock market, the Tokyo Stock Price Index, as part of the ongoing cooperation between TAIFEX and the Japan Exchange Group.
  • ETF Futures, ETF Options and the Extension of Trading Hours: Starting from a total of 3 when first introduced in October 2014, in 2015 TAIFEX added 4 more ETF Futures to its Single Stock Futures family. Trading volumes of the current 7 ETF Futures (of which 6 are linked to China stock indices) showed a growth of 10 times from 2014 (total trading volume in 2015: 2,129,871 contracts), while the number of contracts traded during the extension of trading hours represented 30% of the daily volume. To facilitate investors’ trading strategy and risk management, TAIFEX went on and launched 7 ETF options in December 2015.

The following graph shows the total trading volume of TAIFEX in the recent 5 years:

 

Stepping into 2016, TAIFEX plans to initiate the following strategic moves, in addition to the ongoing fulfillment of its corporate social responsibilities:

  • Study Feasibility on RMB FX Options: To offer participants with more trading tools and strategies, TAIFEX is studying the feasibility of listing RMB FX Options contracts.
  • Study Feasibility on introducing more Foreign Equity Indices Contracts: TAIFEX continues to be in talks with several foreign exchanges for future cooperation opportunities.
  • Modify Gold Futures and Options Contracts: TAIFEX aims to make adjustment to its Gold Futures and Options, the sole commodity in its Commodity Futures and Options product line-up, to better cater to the needs of the market.
  • New Generation Trading System: TAIFEX plans to make transition to a Linux-based platform in 2016.
  • Study Price Stability Mechanism: TAIFEX is studying the implementation of price stability mechanism on its TOPIX Futures.

Looking into the future, TAIFEX states it will continue its growing strength and propel its market into a new era in 2016 by fulfilling its hedging and price discovery functions and achieving its mandate of invigorating futures trading while serving the real economy.

To view the official release click here (PDF).

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TAIFEX total trading volume in 2015 hits record rising 30% YoY; exploring RMB options for 2016

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