JPX and TWSE Enhance Regional Cooperation with New Cross-listing Products
by
Andy Traveller
With two new ETFs and new futures contracts, investors on both sides benefit from more international exposure and diversified portfolios.
Japan’s leading financial trading bourse, the Japan Exchange Group (JPX), and the main trading venue in Taiwan, the Taiwan Stock Exchange (TWSE), are teaming up to enhance their international product offerings and to increase regional connectivity by cross-listing a number of index products. The move highlights the importance of diversified investment products as investors look beyond single stock instruments.
New ETFs in Taiwan
Firstly, TWSE will increase its current supply of ETFs available to retail and institutional investors with the impending listing of the 'Fubon TOPIX Leveraged 2X Index ETF' and the 'Fubon TOPIX Inverse -1X Index ETF' on 10 September 2015, both of which will be issued by Fubon Asset Management.
The two ETFs are the first to track the Japanese stock market, providing investors on the Taiwanese market with an excellent channel to access its East Asian neighbour. Indeed, the two new ETFs are modeled on the 'TOPIX Leveraged 2X Index ETF' and the 'TOPIX Inverse -1X Index ETF', which are currently managed by the Tokyo Stock Exchange. Both of these track the Tokyo Stock Price Index (TOPIX), a major indicator used to evaluate overall trends in the Japanese stock market.
ETFs are regarded as useful add-ons to traditional investments as they give investors exposure to a basket of products, thus limiting individual instrument risk. The new products add further variety to Taiwan’s growing ETF landscape.
Indeed, a statement released by JPX notes: “With the listing of new ETFs and ETF trading volumes on the rise in Taiwan, the introduction of the TOPIX leveraged/inverse ETFs will add further momentum to the market, while also expanding international links to Taiwan's securities market. “
New TAIEX Futures Contracts in Osaka
Secondly, the two exchanges have also agreed that Osaka Exchange (OSE), a subsidiary of JPX and the operator of the largest derivatives market in Japan, will list futures contracts on Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX).
TAIEX is a stock index calculated according to all common stocks listed on TWSE, and is used as a benchmark for investment in Taiwanese stocks.
TAIEX futures are currently expected to debut on OSE in mid-2016 and will become the first equity index futures tracking the TAIEX index outside of Taiwan.
The new products enhance cooperation between the two exchanges, building on a Memorandum of Understanding, which was signed in 2000. As such, investors on both sides of the East China Sea can look forward to greater international exposure and a more diversified product range.
Akira Kiyota, Group CEO of JPX, said: "We are very pleased to be looking at the upcoming listing of TOPIX-related ETFs on TWSE and to have concluded the license agreement regarding TAIEX. We look forward to further deepening the ties between the Taiwanese and Japanese capital markets as partners in Asia."
The sentiment was echoed by Sush-Der Lee, Chairman of TWSE, who said: "TWSE is proactively building alliances with international exchanges ...to encourage the Taiwan financial sector to explore new markets in Asia. The cross-listing of financial products with JPX is a significant milestone for closer regional cooperation. Both TWSE and JPX will continue to expand cooperation, particularly in the areas of cross-listing and market promotion."
Japan’s leading financial trading bourse, the Japan Exchange Group (JPX), and the main trading venue in Taiwan, the Taiwan Stock Exchange (TWSE), are teaming up to enhance their international product offerings and to increase regional connectivity by cross-listing a number of index products. The move highlights the importance of diversified investment products as investors look beyond single stock instruments.
New ETFs in Taiwan
Firstly, TWSE will increase its current supply of ETFs available to retail and institutional investors with the impending listing of the 'Fubon TOPIX Leveraged 2X Index ETF' and the 'Fubon TOPIX Inverse -1X Index ETF' on 10 September 2015, both of which will be issued by Fubon Asset Management.
The two ETFs are the first to track the Japanese stock market, providing investors on the Taiwanese market with an excellent channel to access its East Asian neighbour. Indeed, the two new ETFs are modeled on the 'TOPIX Leveraged 2X Index ETF' and the 'TOPIX Inverse -1X Index ETF', which are currently managed by the Tokyo Stock Exchange. Both of these track the Tokyo Stock Price Index (TOPIX), a major indicator used to evaluate overall trends in the Japanese stock market.
ETFs are regarded as useful add-ons to traditional investments as they give investors exposure to a basket of products, thus limiting individual instrument risk. The new products add further variety to Taiwan’s growing ETF landscape.
Indeed, a statement released by JPX notes: “With the listing of new ETFs and ETF trading volumes on the rise in Taiwan, the introduction of the TOPIX leveraged/inverse ETFs will add further momentum to the market, while also expanding international links to Taiwan's securities market. “
New TAIEX Futures Contracts in Osaka
Secondly, the two exchanges have also agreed that Osaka Exchange (OSE), a subsidiary of JPX and the operator of the largest derivatives market in Japan, will list futures contracts on Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX).
TAIEX is a stock index calculated according to all common stocks listed on TWSE, and is used as a benchmark for investment in Taiwanese stocks.
TAIEX futures are currently expected to debut on OSE in mid-2016 and will become the first equity index futures tracking the TAIEX index outside of Taiwan.
The new products enhance cooperation between the two exchanges, building on a Memorandum of Understanding, which was signed in 2000. As such, investors on both sides of the East China Sea can look forward to greater international exposure and a more diversified product range.
Akira Kiyota, Group CEO of JPX, said: "We are very pleased to be looking at the upcoming listing of TOPIX-related ETFs on TWSE and to have concluded the license agreement regarding TAIEX. We look forward to further deepening the ties between the Taiwanese and Japanese capital markets as partners in Asia."
The sentiment was echoed by Sush-Der Lee, Chairman of TWSE, who said: "TWSE is proactively building alliances with international exchanges ...to encourage the Taiwan financial sector to explore new markets in Asia. The cross-listing of financial products with JPX is a significant milestone for closer regional cooperation. Both TWSE and JPX will continue to expand cooperation, particularly in the areas of cross-listing and market promotion."
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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