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Alternative Market Briefing

Eurex to acquire stake in Taiwan Futures Exchange

Tuesday, December 31, 2013

Bailey McCann, Opalesque New York:

The Taiwan Futures Exchange (TAIFEX) is becoming more global with the help of Eurex. Eurex which operates the Eurex Exchange is taking a significant stake in TAIFEX, following a transaction with Yuanta Financial Holdings, one of Taiwan’s largest companies. According to a statement from Yuanta, 12.92 million shares were sold to Eurex Zurich AG in a deal valued at over $42m.

The transaction is still awaiting regulatory approval, but Eurex has already partnered with TAIFEX on a number of other projects. According to The China Post, the transaction may be due to share limits imposed by regulators. Since Yuanta's acquisition of Polaris Securities and its futures business, the company has exceeded a regulatory cap prohibiting more than 5% of a companies shares being in circulation at any time.

If Eurex is successful in acquiring the stake in TAIFEX, the deal will also reflect recent trends in exchanges both consolidating and becoming more international. Eurex already has similar exchange deals in the works in Brazil and India and the NYSE Euronext was acquired by ICE earlier this year.

Yuanta, along with a number of local Taiwan banks were the primary shareholders in TAIFEX. According to Forex Magnate......................

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