TAIFEX’s January Volumes Suffer Sizable Decline, FX Bottoms Out

FX trading collapsed over a YoY interval, with USD/CNH volumes retreating to new lows.

The Taiwan Futures Exchange (TAIFEX) has reported its latest round of trading volumes for January 2017, 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 January 2017, the exchange notched a total of 12.5 million contracts, vs. 17.0 million contracts traded back in December 2016.

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This corresponded to a month-over-month retreat of approximately -26.5 percent. Looking at a yearly interval, TAIFEX’s latest total volumes also dipped by 46.1 percent year-over-year from 23.2 million contracts in January 2016.

Looking closer at its January 2017 figures, the largest components of TAIFEX’s volumes were Index Futures and Index Options – specifically Taiwan futures and options that came in at 13.8 percent and 69.5 percent respectively as a measure of total volumes. Across the board, no instrument managed to overtake its 2016 counterpart in terms of volume.

TAIFEX also saw a lower performance across its exchange-traded-funds (ETF) and FX business. In terms of its ETF figures, TAIFEX disclosed a figure of only 120,560 in January 2017 across its ETF futures, down -32.3 percent year-over-year from 178,014 contracts in January 2016.

Regarding its FX trading, the exchange reported a figure of just 8,535 USD/CNH futures in January 2017, down -9.0 percent year-over-year from 9,381 in January 2016. Additionally, TAIFEX saw 11,995 USD/CNT FX futures in January 2017, down a sizable -83.4 percent year-over-year from 72,202 in August 2015.

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