News

Taiwanese exchange launches oil futures for first time

Oil_pumps_commoditiesThe Taiwan Futures Exchange has listed oil futures in a bid to make it easier for local investors to reduce risk in energy portfolios. The contracts are based on the ICE Brent Index and denominated in Taiwanese dollars. They are the first energy futures contracts to appear on the exchange. “Our new product allows investors to pay their margins directly in Taiwanese dollars without any currency conversion, and greatly facilitates the trading and hedging needs of investors,” said Len-Yu Liu, chairman of the exchange. He added: “This allows investors to respond to policy changes and price movements in volatile energy markets, which occur mostly in the European or US time zones.” The Taiwan Futures Exchange (Taifex) listed US index futures contracts for the first time last year. ©2018 funds global asia

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