TAIFEX and S&P Dow Jones co-launch Taiwan’s first RMB futures indices

The first S&P/TAIFEX co-branded indices are expected to add growth momentum for the country’s futures and spot markets

TAIPEI (Taiwan News) – Taiwan Futures Exchange (TAIFEX) announced the launch of the S&P/TAIFEX RMB Indices in collaboration with the world’s leading index provider S&P Dow Jones Indices, the first of its kind in the market, to track listed renminbi (RMB) futures in Taiwan, set to add growth momentum for Taiwan’s futures and spot markets.

According to a joint statement made by TAIFEX and S&P Dow Jones Indices on Monday, the first S&P/TAIFEX co-branded indices include the S&P/TAIFEX RTF RMB Index and the S&P/TAIFEX RHF RMB Index, which seek to track the performance of RTF or RHF futures contracts traded on the TAIFEX. The indices are calculated on a daily basis. The RTF and RHF futures contracts are quoted in RMB per USD, while the S&P/TAIFEX RMB Indices are denominated in USD.

S&P Dow Jones Indices is a division of S&P Global, which provides essential intelligence for individuals, companies, and governments to make decisions with confidence, and is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®.

Tianyin Cheng, Director of Strategy and ESG Indices, at S&P Dow Jones Indices said that the launch of the S&P/TAIFEX RMB index family provides market participants with more diversified market benchmarks that will enable more effective management of exposure to Yuan currency risk.

TAIFEX said that the launch of the S&P/TAIFEX RMB Indices mark a new milestone for the country’s futures market, and domestic financial service providers can accordingly launch products pegged to the indices, offering more diversified RMB products for institutional and individual investors in Taiwan.

According to Chao-Shun Yang, executive vice president of Taifex, the company is seeing greater demand for “diverse and innovative products” from investors in Taiwan.

“We are very pleased to have partnered with S&P Dow Jones Indices to launch the new futures indices. We look forward to further expanding opportunities for Taiwanese investors,” he says.

RTF refers to US dollar/offshore yuan futures contracts traded in Taiwan. RTH are US dollar/offshore yuan contracts traded in Hong Kong.

Source Reference:  https://www.asiaasset.com/news/SPDJI-gte-08.aspx
;  https://www.taiwannews.com.tw/en/news/3424012,  SP_TAIFEX RMB Indices_Press Release_Eng
https://asia.spindices.com/indices/strategy/sp-taifex-rtf-rmb-index-usd-er

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07
May
2018