TAIFEX chief to jump ship for CTBC Securities?
13 February 2014
Category: News, Asia, Global, Taiwan
By Asia Asset Management
Fan Chich-Chiang, chairman of the Taiwan Futures Exchange (TAIFEX), is poised to join CTBC Securities as managing director, according to a report from Taiwan’s Economic Daily News.
Local reports suggest Tsun-Siou Li, who is on TAIFEX’s board of directors, is being groomed to replace Mr. Fan.
Under Mr. Fan’s leadership, TAIFEX has scored well on new product development in recent years, including the introduction of binary options on equities, short-duration and mini-sized products. In addition, the bourse won approval to launch Weekly Mini-TAIEX Futures in February 2013, which is a product that can reduce basis risk for hedgers and open up new inter-commodity strategies.
CTBC Securities is the securities offshoot of CTBC Financial Holdings. The CTBC Group is controlled by the family of former Straits Exchange Foundation chairman, Koo Chen-fu.