The Taiwan Monthly

Jul. 2018

Market & ETP Overview

First Index Futures Warrants Listed on TWSE in May 2018

The Financial Supervisory Commission (FSC) of Taiwan has approved the issuance of Index Futures Warrants and is open to receive the application from the securities companies starting 28th May 2018.


As of the end of May, Yuanta Securities, KGI Securities and JihSun Securities had applied to the competent authority for issuing 5, 10 and 2 Index Futures Warrants respectively. These 17 Index Futures Warrants were all listed on the TWSE on 31st May, linked to the TAIEX futures with different exercise prices.


Warrants were first listed and traded on the TWSE in 1997. After evolving for 20 years, the underlying subjects of the warrant can be single stocks, domestic and foreign indices, ETFs and TDRs. To further expand warrant product line, the TWSE initiated the research on the feasibility of developing Index Futures Warrants in 2016. On 9th February 2018, the authority approved the related rules and regulations. The minimum duration of Index Futures Warrants is 3 months, comparing to 6 months of Stock Warrants.


The listing of Index Futures Warrants will give an impulse to the diversification of tradable products on the Taiwan stock market, meeting the needs of local securities firms to expand their commercial opportunities.


For further information, please contact Cindy Lin (Email:; Tel: +886 2 81013094)