Taiwan's first US index futures contracts appeared for trading on the Taiwan Futures Exchange (Taifex) on Monday.
Futures on the S&P 500 and Dow Jones Industrial Average were launched in response to growing demand for overseas exposure from Taiwanese investors, according to the chairman of the exchange.
“Taifex's launch of Taiwan dollar-denominated equity index futures contracts opens up new opportunities for Taiwanese investors to better manage equity index exposure,” said Sean Tully, an executive at CME Group, an international partner to the exchange.
The listings came as Taifex began offering after-hours trading sessions. The US index futures are among 11 products eligible to be traded in a session beginning in the afternoon and ending at five in the morning, Taiwan time.
Late trading, “will offer market participants more efficient hedging opportunities”, said Len-Yu Liu, Taifex chairman.
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