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TSE to launch dual listings with Tokyo Stock Exchange

Taiwan Stock Exchange Corp (TSE, 台灣證交所) plans to launch dual-listings of exchange traded funds with Tokyo Stock Exchange Inc by the end of the first half of the year, a company executive said yesterday.

"The Tokyo Stock Exchange has expressed an interest in dual-listing with us. More details will be ironed out during TSE president Su Song-chin's [蘇松欽] visit to Tokyo next Tuesday and Wednesday," TSE senior executive vice president Stanley Chu (朱士廷) said by phone yesterday.

TSE chairman Wu Rong-i (吳榮義) said yesterday that the stock exchange would continue to work on its proposed merger with three other exchanges -- the Taiwan Futures Exchange (期交所), the GRETAI Securities Market (櫃買中心) and the Taiwan Depository and Clearing Corp (集保結算所) -- to create financial holding company through share swaps.

"The Financial Supervisory Commission has approved the TSE's proposed cooperation with Chunghwa Telecom Co (中華電信) to set up a new computer center in Banciao, Taipei County, to enhance the TSE's international competitiveness, with an investment valued at about NT$2 billion [US$62.15 million]," Wu told a news conference yesterday.

Aside from the merger of the markets, attracting foreign-based Taiwanese businesses to return and list on the local bourse would also be a priority, he said.
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