Overview of Taiwan Futures Market Overview of Taiwan

Overview of Taiwan Futures Market

Overview of Taiwan Futures Market ─ Milestones 1997. 09 Establishment of Taiwan Futures Exchange 1998. 07 Listing of TAIEX Futures 2001. 12 Listing of TAIEX Options 2003. 01 Listing of Single Stock Option (5 stocks) 2004. 01 Listing of 10 -Year Government Bond Futures 2004. 09 Awarded “Best of the Exchange” by Asia Risk Magazine 2005. 03 Listing of Electronic Sector and Finance Sector Index Options 2006. 03 Listing of Gold Futures, MSCI Taiwan Index. SM Futures and Options 2

Current Products of TAIFEX-14 Products Source: TAIFEX * Newly launched on March 27, 2006 3

Overview of Taiwan Futures Market ─ Market Participants Number of FCM: 155 Number of Clearing Members: 34 Source: TAIFEX 4

Overview of Taiwan Futures Market ─ Trading Volume Source: TAIFEX 5

Current Products of TAIFEX ─ 2005 Trading Volume Profile Source: TAIFEX * Launched on March 28, 2005 6

Overview of Taiwan Futures Market ─ Market Participants Source: TAIFEX * In terms of annual trading volume 7

Overview of Taiwan Futures Market ─ Global Rank TXO: The World’s 3 rd largest Stock Index Options Product by Trading Volume (2005) Market Turnov er 　 1998 2, 223 - 1999 1, 077, 672 47 287. 80% 4, 522 103. 39% 2000 1, 926, 789 44 78. 79% 7, 110 57. 23% 2001 4, 351, 390 38 125. 84% 19, 252 170. 77% 2002 7, 944, 254 35 82. 60% 32, 033 66. 40% 31, 874, 93 2003 4 26 301. 23% 128, 067 299. 80% 59, 146, 37 2004 6 20 237, 144 85. 17% 92, 659, 76 57 Growth Rate - Source：FIA 277, 909 World Rank Ave Daily Trading Vol Growth Rate of Avg. Daily Trading Volume 85. 56% 8

Overview of Taiwan Futures Market ─ International Cooperation • Cooperative Exchanges-with MOU Agreements • 2002：Korea Exchange（KRX） • 2003： • Tokyo International Financial Futures Exchange （ TIFFE） • Chicago Board of Trade（CBOT） • 2004: New York Mercantile Exchange （NYMEX） • 2005：National Stock Exchange of India（NSE） 9

Overview of Taiwan Futures Market ─ International Cooperation • International Futures Organizations • 1999：Futures Industry Association（FIA） • 2000： International Options Markets Association（IOMA） • 2002： • Swiss Futures and Options Association（SFOA） • World Federation of Exchanges （WFE） • Cooperation in Product Development (Benchmark providers) • 2003: FTSE-Taiwan 50 Stock Index Futures • 2006： • London Gold Market Fixing Ltd. -Gold Futures • Morgan Stanley Capital International (MSCI)-MSCI Taiwan Index Futures and Options 10