Tokyo Stock Price Index (TOPIX) futures are now being traded in Taiwan. On Monday, they became the first foreign equity index futures to be listed in the Taiwan Futures Exchange (TAIFEX).
The move is a joint effort between TAIFEX and the Japan Exchange Group, Inc. (JPX). JPX Group CEO Akira Kiyota was in Taipei for a reception to mark the occasion. He said he hoped the move can attract investors interested in Japan’s stock market and add new momentum to the futures markets in both countries.
TAIFEX Chairman Liu Len-yu said now is the best time to introduce TOPIX futures in Taiwan.
“TOPIX is listed on the Tokyo Stock Exchange (TSE). It contains over 1,900 stocks and is listed on TSE’s First Section," said Liu.
"TOPIX’s performance can reflect the economic situation of Japan, which is the world’s third largest economy. The launch came at the right time as Japan’s economy is also improving.”
Meanwhile, the chairman of Taiwan’s Financial Supervisory Commission (FSC), William Tseng, said he hopes that the total trade volume of Taiwan’s futures market in 2016 can exceed 300 million lots. He was referring to the standardized quantity of a financial instrument as set out by the exchange.