CME Group and TAIFEX Sign Letter of Intent for Greater Collaboration
CME Group and the Taiwan Futures Exchange (TAIFEX) signed a Letter of Intent (LOI) regarding the potential listing on TAIFEX of U.S. equity index-based contracts, and the exploration of cross-border collaboration opportunities and models, and forge greater collaboration between both exchanges.
“We are seeing strong growth in Asia, most recently with 2014 fourth quarter volumes up 51 percent compared to the previous year,” said CME Group Executive Chairman and President, Terry Duffy. “This letter of intent comes at an important time as we continue to look for growth in that region. We look forward to working closely with TAIFEX.”
“We are pleased to sign this LOI with TAIFEX,” said Phupinder Gill, CME Group Chief Executive Officer. “Through this collaboration, we hope to explore opportunities to better serve the Taiwanese financial markets, and further extend CME Group’s reach into north Asia. Enabling Taiwan-listed U.S. equities index contracts can serve as an important step in the development of the Taiwanese markets.”
“In response to a fast changing global financial landscape, collaboration between exchanges has become increasingly important,” said Len-Yu Liu, TAIFEX Chairman. “We are pleased to further develop our cooperative relationship to better serve the markets of Taiwan and the US.”
The LOI signing ceremony was held in Boca Raton, Florida, on the sidelines of the FIA International Futures Industry Conference 2015.
Source: CME Group