JPX and Taiwan Futures Exchange initiate the product cooperation by listing TOPIX futures in Taiwan 

Japan Exchange Group, Inc. (JPX) and Taiwan Futures Exchange (TAIFEX) today announce their cooperation plan to introduce TOPIX futures based on the leading stock index of JPX to Taiwan investors. The TOPIX futures denominated in New Taiwan Dollar (TWD) is scheduled to launch on TAIFEX in December, 2015, which would be a key milestone to both exchanges.

As a major indicator used to evaluate overall trends in the Japanese stock market, the Tokyo Stock Price Index (TOPIX) contains over 1,800 stocks and is calculated based on all common stocks listed on the Tokyo Stock Exchange (TSE) First Section. The listing of TWD-denominated TOPIX futures can therefore facilitate Taiwan investors’ exposure to Japanese equity market without bearing foreign exchange risk. It can also provide international investors with more trading opportunities between Taiwanese and Japanese derivatives markets.

Mr. Akira Kiyota, Group CEO of JPX, said “We are very pleased to be looking at the upcoming launch of TWD-denominated TOPIX futures on TAIFEX. Through this cooperation, JPX hopes Taiwan investors have more interests in Japanese market. We look forward to further deepening the ties between the Taiwanese and Japanese capital markets as partners in Asia.”

“In response to the rapidly changing and globalised financial market environment, cooperation and partnerships are becoming ever more important,” said Dr. Len-Yu Liu, Chairman of TAIFEX. “We are excited about our tie-up with JPX to launch TOPIX futures, which enables Taiwan investors to trade one of the heavily traded equity indices in Asia. I believe this project is just the beginning of cooperation with JPX. I look forward to more joint initiatives and projects between the two exchanges.”

The launch of TOPIX futures is the first time for TAIFEX to introduce a foreign equity index futures to its investors while JPX extends the Asian reach of its leading index. In facing an increasingly fierece global competition, the cooperation will create win-win relationships by successfully integrating the resources and strengths of the two exchanges.

In line with this cooperative plan, TAIFEX enters into Information Sharing Agreement with Osaka Exchange, Inc. and Japan Exchange Regulations, subsidieary organizations of JPX, to ensure market integrity and operations.

Source: Japan Exchange Group (JPX)

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