Published On: Fri, Jul 1st, 2016

Nifty 50 Futures to be listed on Taiwan Futures Exchange

Dr. Len-Yu Liu, Chairman of TAIFEX

Dr. Len-Yu Liu, Chairman of TAIFEX

India Index Services & Products Limited (IISL), a National Stock Exchange (NSE) group company and Taiwan Futures Exchange (TAIFEX) today announce their cooperation plan to introduce Nifty 50 futures based on the leading equity index of NSE to Taiwan investors. The Nifty 50 futures denominated in New Taiwan Dollar (TWD) is scheduled to be launched on TAIFEX in the fourth quarter of 2016, which marks a key milestone for both the exchanges.

TAIFEX has entered into a licensing agreement with IISL, an NSE group company, which owns and manages the Nifty 50 index. The Nifty 50 index, an equity index comprising of securities listed on NSE, is the most widely used Indian benchmark to track the performance of Indian stock market. It includes 50 companies and represents approximately 66% of the free float market capitalization of the companies listed on NSE. In terms of number of contracts traded, Nifty 50 options traded on NSE is ranked number 1 globally and Nifty 50 futures is ranked 7th globally. The offering of TWD denominated Nifty 50 futures will not only expand TAIFEX’ product line, but further increase TAIFEX’ international exposure.

Ms. Chitra Ramkrishna, Chairperson – IISL and MD & CEO – NSE, said “Over the years, Nifty 50 has also become a coveted global brand. IISL is happy to enter into a partnership with TAIFEX to make it available in Taiwan in the form of Nifty 50 futures. India is one of the fastest growing economies in the world and this partnership will enable Taiwan investors to participate in the India growth story. IISL is fully committed to work together with TAIFEX to make this partnership a great success.”

“As world exchanges are seeking strategic alliance in the face of increasingly furious global competition and challenges, TAIFEX spares no efforts on streamlining market practices on one hand and deepening internationalization on the other hand. The cooperation will provide great opportunities for the two exchanges to pursue a reciprocal long-term relationship and to become more global in reach,” said Dr. Len-Yu Liu, Chairman of TAIFEX. “I am excited about our tie-up with NSE group company to launch Nifty 50 futures for Taiwanese investors to participate in the blooming India market without bearing exchange risk. I believe the partnership shall greatly contribute to the bright future of both exchanges and look forward to more joint initiatives between the two exchanges in the near future,” added Dr. Liu.

IISL and TAIFEX will work hand in hand for investor education and global market promotion to attract more potential traders to join the market. Both exchanges believe that this project will deepen the ties between the two and pave the way for future cooperation.

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