The Taiwan Futures Exchange (TAIFEX) has registered impressive growth since its inception in 1998, with the annual trading volume topping 100 million contracts as of Nov. 13, TAIFEX chairman Wu Rong-i (
Wu made the remarks while addressing an international seminar on global futures market development being held at the Taipei International Convention Center under the auspices of TAIFEX and the Chinese National Futures Association (CNFA).
A total of 100,181,866 combined futures and options contracts had been traded as of Nov. 13, with TAIFEX's global ranking in terms of trading volume rising from 57th in 1998 to 18th in June this year, Wu said, adding that the trading volume of Taiwanese index options was ranked third globally.
Wu said that TAIFEX had received the prestigious "Derivatives Exchange of the Year 2004" award from the internationally renowned AsiaRisk magazine for its outstanding achievement.
AsiaRisk, first launched in 1995, is a professional magazine dedicated to financial risk management and consultancy.
Wu urged all TAIFEX staff members and domestic futures dealers to continue working hard with a view to expanding the scale of Taiwan's futures market and speeding up the internationalization of the industry.
Total annual trading volume is expected to reach 120 million contracts by the end of this year, TAIFEX said in a statement.
TAIFEX attributed the impressive business growth mainly to the government's efforts in reducing the transaction taxes, in conjunction with support from CNFA and all the market participants.