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TAIFEX to launch first offshore Nasdaq-100 Index futures contract

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The Taiwan Futures Exchange (TAIFEX) is to launch the world’s first offshore Nasdaq-100 index futures contract on 30 September 2019.

Denominated in Taiwan dollars, this new futures contract is based on the Nasdaq-100 index, which is sub-licensed by CME Group for listing on TAIFEX.  One of the world’s most frequently-cited technology indexes, the Nasdaq 100® tracks the 100 largest non-financial companies listed on Nasdaq, complementing closely with the strong technology-focus of TAIFEX’s most popular trading products, including TAIEX Futures and TAIEX Options.
 
The launch of the new contract is TAIFEX’s second collaboration with CME Group, following the launch of futures contracts based on the S&P 500 and Dow Jones Industrial Average (DJIA) indexes sub-licensed by CME Group for listing on TAIFEX in 2017, and marks its inaugural collaboration with Nasdaq where the Nasdaq-100 index futures is listed for the first time outside of the United States.
 
The Nasdaq-100 index futures is cash-settled, with a smaller contract size – a multiplier of TWD50 (approx. USD1.6) per index will be available for trading during TAIFEX’s regular and night sessions (8.45am to 1:45pm and 3.00pm to 5.00am of the next day, Taiwan time), covering both Taiwan and U.S. trading hours. The contract value is around USD12,500
 
Bing-Jing Huang, CEO of TAIFEX, says: “We are delighted to be launching Taiwan’s third equity index futures contract tracking the US market. The launch of the Nasdaq-100 futures contract further strengthens our ability to cater to the growing demand in Taiwan and the Asia-Pacific for offshore technology-sector exposure, including the popular FAANG stocks. Tracking the global tech sector and related supply chains is a ‘round the clock’ job, and TAIFEX is now the best place in the region for local and overseas investors to access the best choice of hedging tools.”
 
“The launch of the Taiwan dollar-denominated Nasdaq-100 index futures contract by TAIFEX has given Taiwanese investors new trading opportunities to better manage their equity index exposure,” says Tim McCourt (pictured), Managing Director and Global Head, Equity Products and Alternative Investments, CME Group. “We continue to focus on providing our customers access to new products and markets to help them with their evolving risk management needs.”

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