The TWCX (www.twcx.org) has introduced a sliding scale fee system for currency futures as well as fees being capped for significant volume contracts.
(1888PressRelease) May 01, 2014 - Both measures are designed to lure larger currency future contracts on to the exchange, and compete against the traditional OTC (over the counter) FEC's (Forward Exchange Contracts).
The new fee structure decreases fees across contracts larger than 1000 - ranging from a 15% reduction for contracts over 1000 to a significant 50% reduction for contracts of 15 000 and above. Each contract is worth 1000 units of foreign underlying currency.
"The fee reduction should allow banks to aggressively target corporate business - larger volumes traded should substantially boost the growth in the currency future market," said Donald Preston, General Manager of Trading, TWCX. "The demand for currency futures in Taiwan is pushing the market towards higher-volumes and lower costs. We are also set to launch currency options later this year which will further boost trading volumes on the exchange."
The currency futures market is the biggest financial market in the world, turning over more than $3 trillion a day. Currency futures have enjoyed incredible success in the Asian markets. "If the international picture is anything to go by, then our market is just a fraction of what it could be," concludes Mr. Preston.
The new fee system comes against the backdrop of significant volume growth at the TWCX's currency futures market in the short time since the exchange started a market in these instruments. While the bulk of activity in the forward currency market still takes place off the exchange, currency futures have seen a substantial growth.
About TWCX
Taiwan Commodity Exchange (TWCX) (http://www.twcx.org) is a world class commodities exchange based in Taipei. It has operated as a market place for the trading of financial products to connect buyers and sellers in four different markets: commodities, equities derivative, foreign currency trading and interest rate products.
TWCX is one of the top exchanges in the world in terms of Market Capitalization. TWCX is the market of choice for local and international investors looking to gain exposure to the leading capital markets in Southeast Asia and the broader Asian continent.
The TWCX (www.twcx.org) has introduced a sliding scale fee system for currency futures as well as fees being capped for significant volume contracts. 
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