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Yuanta Futures retains title as Taiwan's top Europe contract trader

2012/09/20 16:08:38

Taipei, Sept. 20 (CNA) Yuanta Futures, the futures trading arm of Yuanta Financial Holdings, said Thursday that it had retained its title as the largest trader among local futures firms in terms of futures contract trading in Europe for August.

Citing statistics compiled by the Taiwan-based Chinese National Futures Association, Yuanta Futures said its trading volume in the four major futures exchanges in Europe totaled 13,074 contracts, accounting for 53.96 percent of the total reported by local traders in terms of their European transactions.

According to the statistics, KGI Futures came in second with trading volume of 4,706 contracts, which represented 19.42 percent of the total, while Capital Futures ranked third with 2,432 contracts, accounting for a 10.04 percent share.

It was the second consecutive month in which Yuanta Futures grasped a more-than 50 percent share of the total trading volume, the company said.

In July, it completed 11,051 contracts in the four major European exchanges, making up 51.63 percent of the total Europe trading volume by local firms.

The four major exchanges are the International Currency Exchange, London Metal Exchange, Eurex and NYSE-Liffe, Yuanta Futures said.

The company said the rising trading volume of European futures contracts reflected the company's intensive campaign to promote the European market, which remains an unknown quantity to some extent among many local investors.

The futures trader said that judging from the massive trading volume in Europe, there is ample room for local investors to trade there.

In the first half of this year, the trading volume in the European futures market totaled 2.32 billion contracts, making up 20.9 percent of the global total, trailing the Asia-Pacific market (35.6 percent) and the North America market (33.8 percent), according to Yuanta Futures.

The firm said it provides local investors with an Internet trading platform for futures in the Eurex on underlying securities such as Germany's government bonds with maturities of up to 30 years, and futures in the NYSE-Liffe on underlying 10-year U.K. government bonds.

(By Wei Shu and Frances Huang)