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Japan Exchange Group, Inc. (JPX) and Taiwan Futures Exchange (TAIFEX) today announce their cooperation plan to introduce TOPIX futures based on the leading stock index of JPX to Taiwan investors. The TOPIX futures denominated in New Taiwan Dollar (TWD) is scheduled to launch on TAIFEX in December, 2015, which would be a key milestone to both exchanges.
As a major indicator used to evaluate overall trends in the Japanese stock market, the Tokyo Stock Price Index (TOPIX) contains over 1,800 stocks and is calculated based on all common stocks listed on the Tokyo Stock Exchange (TSE) First Section. The listing of TWD-denominated TOPIX futures can therefore facilitate Taiwan investors’ exposure to Japanese equity market without bearing foreign exchange risk. It can also provide international investors with more trading opportunities between Taiwanese and Japanese derivatives markets.
Mr. Akira Kiyota, Group CEO of JPX, said "We are very pleased to be looking at the upcoming launch of TWD-denominated TOPIX futures on TAIFEX. Through this cooperation, JPX hopes Taiwan investors have more interests in Japanese market. We look forward to further deepening the ties between the Taiwanese and Japanese capital markets as partners in Asia."
"In response to the rapidly changing and globalised financial market environment, cooperation and partnerships are becoming ever more important," said Dr. Len-Yu Liu, Chairman of TAIFEX. "We are excited about our tie-up with JPX to launch TOPIX futures, which enables Taiwan investors to trade one of the heavily traded equity indices in Asia. I believe this project is just the beginning of cooperation with JPX. I look forward to more joint initiatives and projects between the two exchanges."
The launch of TOPIX futures is the first time for TAIFEX to introduce a foreign equity index futures to its investors while JPX extends the Asian reach of its leading index. In facing an increasingly fierece global competition, the cooperation will create win-win relationships by successfully integrating the resources and strengths of the two exchanges.
In line with this cooperative plan, TAIFEX enters into Information Sharing Agreement with Osaka Exchange, Inc. and Japan Exchange Regulations, subsidieary organizations of JPX, to ensure market integrity and operations.
Taiwan Futures Exchange (TAIFEX), established in 1997, provides a wide range of products, including stock index futures and options, interest rate futures, single stock futures, equity options, gold futures and options, and currency futures. TAIFEX has continuously enhanced its technology and services in trading, clearing and settlement to ensure a fair and orderly marketplace. With a vision to be a world-class exchange befitting the fast-evolving marketplace, TAIFEX is poised to extend its global reach and stands as a primary derivatives exchange in Asia. For further details, please visit:
Japan Exchange Group, Inc., one of the leading exchange groups in the world, is a holding company established on January 1, 2013 as a result of a business combination between Tokyo Stock Exchange, the largest stock exchange in the Asia-Pacific region, and Osaka Exchange, a major derivatives exchange, which has a history of close interaction following the signing of a Memorandum of Understanding with TAIFEX in 2006. JPX listed its stock on TSE on January 4 of the same year.
The TSE stock market reached approximately USD 4.8 trillion in market capitalization (JPY 580 trillion) as of the end of October 2015 while OSE provides markets for major Japanese derivatives such as Nikkei 225 futures, TOPIX futures, JPX-Nikkei Index 400 futures and JGB futures.
For further information about JPX and its products, please visit our website.
Contact
Taiwan Futures Exchange Business Development Department
TEL:+886 2 2366 3263
Japan Exchange Group, Inc. Corporate Strategy
TEL:+81 3 3666 1361
