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Taiwan and London to exchange listings of exchange-traded funds

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The Taiwan Stock Exchange and London Stock Exchange are to swap listings of exchange-traded funds to provide Taiwanese and British investors with access to more investment choices, Taiw

The Taiwan Stock Exchange and London Stock Exchange are to swap listings of exchange-traded funds to provide Taiwanese and British investors with access to more investment choices, Taiwan’s Central News Agency has reported.

The proposal was first launched last October.

Schive Chi, chairman of the Taiwan Stock Exchange Corporation, was quoted as saying: “The ETF listing exchange is expected to begin in the first half of this year at the earliest if everything goes smoothly.”

Chi, accompanied by Taiwan’s representative to the UK Chang Siao-yue, last week visited the London Stock Exchange, where he met with Antonella Amadei, head of international relations at the exchange’s strategy division, and other officials, the agency says.

Currently, 11 ETFs are listed on the Taiwan Stock Exchange and at least 200 on the London Stock Exchange. According to Chi, Taiwanese investors spend an average of USD40bn on overseas funds per year and have become increasingly interested in ETFs

Chi also told the agency Taiwan has a great opportunity to have its financial market status upgraded from “advanced emerging” to “developed” on the Financial Times Stock Exchange Group’s market rankings.

He met with Mark Makepeace, chief executive and company founder of the FTSE Group, and was told that South Korea is set to be upgraded to a “developed” market this year, with promising prospects for Taiwan to be next. The FTSE Group routinely conducts surveys every February for its compilation of country classifications. South Korea’s upgrading is expected to be formally announced in September.

The FTSE Group, an independent company that originated as a joint venture between the Financial Times and the LSE, is a provider of more than 120,000 equity, bond and alternative asset class indices.

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