Taiwan futures markets merger back on the cards

21 Aug 2006

A merger between Taiwan Stock Exchange (TSEC) and Taiwan Futures Exchange (Taifex) along with Taiwan Depository and Clearing Corporation and the country's Gretai Securities Market OTC trading market...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.