Yuanta seeking to issue ETFs that track U.S. dollar futures

Focus Taiwan
Date: 21:50:58
By: Tien Yu-pin and Frances Huang

Taipei, June 1 (CNA) Yuanta Securities Investment Trust Co. (元大投信), a subsidiary of Yuanta Financial Holding Co. (元大金控), is seeking to issue exchange traded funds (ETFs) that track U.S. dollar futures, according to the Taiwan Stock Exchange (TWSE).

The TWSE, which operates the local main board, said Wednesday that Yuanta has applied for recognition of the S&P U.S. Dollar Futures Index (ER), the S&P U.S. Dollar Futures 1x Inverse Daily Index (ER), and the S&P U.S. Dollar Futures 2x Leverage Daily Index (ER).

Once the three indexes are recognized by the TWSE, Yuanta is expected to take next step, issuing ETFs that track the three indexes.

Yuanta’s application is the eighth submitted so far this year by local securities investment trusts or asset management firms to gain recognition of foreign indexes, in preparation for the issuance of more ETFs in Taiwan, as the local ETF market becomes more popular among investors, the TWSE said.     [FULL  STORY]

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