TAIFEX’s August Volumes Decline Across the Board, FX, Futures Plunge

August's low volatility helped drive volumes lower at TAIFEX, unable to match its performance from August 2015.

The Taiwan Futures Exchange (TAIFEX) has reported its latest round of trading volumes for August 2016, which offered a mixed overview in terms of its performance – overall this was highlighted by a generally upbeat year-to-date (YTD) trend, according to a TAIFEX newsletter.

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TAIFEX offers a wide range of instruments, including foreign exchange (FX), futures, exchange-traded-funds (ETFs) and other options contracts. In terms of total trading volume in August 2016, the exchange notched a total of 21.0 million contracts, vs. 29.5 million traded back in August 2015. This corresponded to a YoY retreat of approximately -28.8%.

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Looking closer at its August 2016 figures, the largest components of TAIFEX’s volumes were Index Futures and Index Options – specifically Taiwan futures and options that came in at 14.6% and 68.5% respectively as a measure of total volumes. Across the board, no instrument bested its 2015 counterpart, as August’s low volatility sapped the exchange of any meaningful volume growth.

TAIFEX also saw a downtrodden performance across its exchange-traded-funds (ETF) and FX business. Looking at its ETF business, TAIFEX disclosed a figure of only 152,150 in August 2016 across its ETF futures, down -42.2% YoY from 263,283 in August 2015.

Regarding its FX trading, the exchange reported a figure of just 8,912 USD/CNH futures in August 2016, down -59.8% YoY from 22,180 in August 2015. Additionally, TAIFEX saw 42,607 USD/CNT FX futures in August 2016, down a sizable -83.1% YoY from 252,744 in August 2015.

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