TAIFEX Announces New U.S. PHLX Semiconductor Sector Futures in Collaboration with CME Group and Nasdaq
Date
11/21/2023 3:28:08 AM
(MENAFN- Think Alliance Group) Taiwan Futures Exchange (TAIFEX), in partnership with CME Group and Nasdaq, is launching the TAIFEX PHLX Semiconductor Sector Futures (SXF) on December 18, 2023. The SXF complements existing TAIFEX Nasdaq-100 Futures, TAIFEX Dow Jones Industrial Average Futures and S&P 500 Futures, making TAIFEX the only exchange outside the United States to list futures contracts on four major U.S. equity indexes.
As referred to the "new oil" of the 21st century, the semiconductor industry serves as a pivotal catalyst for global technological advancement, and the PHLX Semiconductor SectorTM Index is one of the most renowned and widely tracked indexes in the technology sector. The index constituents, including NVIDIA, AMD, Micron, ASML, and Intel, among 30 U.S. tech giants, have strong ties with leading electronic and technology companies in Taiwan, ranging across a wide spectrum of investment themes, such as artificial intelligence, high-speed computing, metaverse, and autonomous driving.
“Our partnership with CME Group and Nasdaq has been a remarkable success, resulting in a triple-win scenario for all involved. We are excited to continue our cooperation with our international partners to broaden choices for investors to manage risks and pursue their investment objectives,” said Tzu-Hsin Wu, Chairman of the TAIFEX. “Furthermore, traders can incorporate the SXF into their trading strategies alongside other TAIFEX products such as Taiwan Semiconductor 30 Futures, Electronics Sector Futures, and TSMC Futures to actively participate in the flourishing semiconductor investment trend.”
“The launch of Taiwan dollar-denominated TAIFEX PHLX Semiconductor Sector Futures contracts opens up new opportunities for Taiwanese investors to better manage their exposure in the semiconductor industry,” said Tim McCourt, Senior Managing Director, Global Head of Financial and OTC Products at CME Group. “We are excited to continue to work closely with TAIFEX in further developing and internationalizing the Taiwanese futures markets.”
“Nasdaq is pleased to partner with TAIFEX and CME Group to offer investors another tool to help manage risk within their investment mix,” said Sean Wasserman, Vice President and Global Head of Index & Advisor Solutions at Nasdaq. “This expansion of our partnership builds upon the successful listing of the TAIFEX Nasdaq-100 Futures in 2019, and we look forward to continuing this partnership and bringing value to the global investment community.”
The TAIFEX PHLX Semiconductor Sector Futures are denominated in New Taiwan Dollars (TWD), eliminating foreign exchange risks. The contract value is around USD 9,500, making it a small contract with trading flexibilities. The trading hours also cover the major US and European market hours, enabling traders to promptly respond to market changes.
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