Exchanges Enter Into Agreement To Connect Trading Communities
NYSE Euronext and Taiwan Futures Exchange Sign Memorandum of Understanding
London, Taipei- 16 October 2012 – NYSE Euronext (NYX) and the Taiwan Futures Exchange (TAIFEX) today signed a Memorandum of Understanding (MOU) to explore bilateral business opportunities and connect their respective customer bases in Asia, Europe and the U.S. through NYSE Euronext’s order routing system. This alliance will support the development of the exchanges’ futures and options markets.
The agreement will serve as a framework for closer cooperation between the exchanges in order to develop innovative products, establish a two-way order routing partnership to facilitate reciprocal order flow and explore distribution channels for key products. The exchanges also intend to share information, best practices and resources.
Taiwan is a major trading market for futures and options in Asia and as a group, NYSE Euronext is actively seeking strategic opportunities that enhance our regional footprint,” said Dominique Cerutti, President and Deputy CEO, NYSE Euronext. “Our pioneering derivatives markets are complemented by our rich and unique global community, which is growing in Asia. This partnership with TAIFEX demonstrates our commitment to unlocking markets and developing innovative solutions that benefit our global customer base and the region.”
In response to the rapidly changing global financial landscape, collaboration between exchanges has become increasingly important,” said Steve Wang, President of TAIFEX. “We believe TAIFEX and NYSE Euronext will leverage unique knowledge from each other’s market, and the partnership facilitating the future cross-border arrangement will benefit both exchanges and better serve the markets.”
The MOU paves the way for potential joint business initiatives between the two exchanges. Steve Wang, TAIFEX president, Dominique Cerutti, President and Deputy CEO NYSE Euronext , and executives from both exchanges finalized the MOU at a signing ceremony in Taipei.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets - the New York Stock Exchange, NYSE Euronext, NYSE MKT, NYSE Alternext and NYSE Arca - represent one-third of the world’s equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index. For more information, please visit: http://www.nyx.com.
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext's 2011 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
Established in 1997, TAIFEX currently offers 19 products, including stock index futures and options, interst rate futures, single stock futures , equitiy options and gold futures and options. TAIFEX has striven to introduce products and measures that meet market needs while fulfilling its commitment to strenghthening risk management mechanisms and further aligning its practices with international standards.
For more information, please visit: www.taifex.com.tw