Taiwan’s first ever RMB futures contract heads onto TAIFEX today


The Taiwan Futures Exchange (TAIFEX) today launched two RMB FX futures contracts – USD/CNT FX Futures and USD/CNH FX Futures. The launch represents a further development of Taiwan’s offshore RMB market and internationalization of Taiwan’s futures market.

The introduction of the Chinese currency not only represents an inaugural journey for Taiwan, but also highlights the industry-wide drive toward exchange-traded FX which is currently occurring.

“Taiwan has rapidly become one of the most attractive markets in the world to issue RMB bonds and keep RMB deposits. This makes the introduction ofChairman Dr. Len-Yu Liu.

“Taiwan is one of the biggest sources of direct foreign investment in China and has run a large trade surplus for a long while. TAIFEX is in a uniquely competitive position to take a leading role in the development of new ways for domestic and international investors to hedge their RMB assets” concluded Dr. Liu.

The USD/CNT FX Futures contract is the first futures contract to be based on the Taiwan interbank and spot market for the RMB published by the Taipei Foreign Exchange Market Development Foundation.

Its introduction is a milestone in the development of a local offshore RMB market in Taiwan (the ‘CNT market’), and paves the way for Taiwan to become an international financial center. The USD/CNH FX Futures contract will be based on the interbank and spot market for the RMB published by the Treasury Markets Association of Hong Kong.

The contract sizes of the USD/CNT FX Futures and USD/CNH FX Futures are from 8.45am to 4.15pm Taiwan local time.

Dr. Len-Yu Liu concluded: “TAIFEX will continue to be an active player in the ongoing expansion and internationalization of Taiwan’s futures and CNTs. We remain committed to developing new and innovative futures and options products that closely meet the evolving demands of both individual and institutional investors in Taiwan and around the world.”

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Taiwan's first ever RMB futures contract heads onto TAIFEX today

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