Through its Taipei Branch, Credit Suisse First Boston (CSFB) will trade future and option contracts listed on the Taiwan Futures Exchange for qualified foreign and domestic clients.
Alexander Lin, managing director and head of equity derivatives trading at CSFB, said: This business plays an important role in CSFB’s equity derivatives strategy in the Pacific region. We expect the listed derivatives market in Taiwan to continue to grow rapidly as the use of these products for hedging and investment purposes become more widespread.
Taiwan formed a futures exchange in 1998 as part of the reorganization of its financial industry. The average daily volume of Taiwan-listed derivative contracts increased substantially in 2004, making Taiwan’s Futures Exchange the fifth largest in Asia, behind Korea, Shanghai, Japan and India.
