Business news

MINSK, 15 January (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) and the Taiwan Futures Exchange (TAIFEX), China have signed a memorandum of understanding, BelTA informs.

The objective of the memorandum is to establish partner relations and cooperation in information sharing, useful experience and advanced technologies in stock and e-trade.

“East Asia is a huge market that makes a significant contribution to the world economy. Developing it alone would be an extremely difficult task, so it was decided to make use of the support from a strong strategic partner who would help us gain a foothold in this region. The choice fell on the Taiwan Futures Exchange TAIFEX, which has the necessary competencies, experience and authority in the business area,” said Chairman of the Board of the BUCE Arkady Salikov.

According to him, cooperation is beneficial to both the parties. “By uniting our efforts, we will be able not only to strengthen our positions in the East Asian and Belarusian markets, but also create favorable conditions for trade growth,” the BUCE head added.

In turn, Chairman of the Board of TAIFEX Len-Yu Liu said that the signing of the memorandum would give start to long-term mutually beneficial cooperation and allow both the organizations to significantly expand the geography of their business contacts. “For BUCE and TAIFEX, it is an opportunity to receive up-to-date data and analytics on the markets. For the last 20 years, TAIFEX has developed a number of sought-after products and made significant success in the derivatives market. I am confident that a regular exchange of information and close interaction in the areas of mutual interest will help BUCE and TAIFEX realize the potential and increase the efficiency of their activities,” he said.

The Taiwan Futures Exchange was founded in 1997. The company organizes and conducts exchange auctions on a wide range of derivative financial instruments, including futures and stock options, price indices, precious metals and currencies. In 2017, TAIFEX implemented more than 265 million contracts.