INTERVIEW- Taiwan seeks ETF dual listings in Singapore, HK, Tokyo, Dubai -GreTai

INTERVIEW- Taiwan seeks ETF dual listings in Singapore, HK, Tokyo, Dubai -GreTai

	Published : Tue, 27 Nov 2007 11:13 By : Agencies Print this Story

TAIPEI (XFN-ASIA) - After reaching an accord with Singapore on the dual listing of exchange-traded funds (ETFs), Taiwan's GreTai Securities Market says it is looking for similar understandings with Hong Kong, Tokyo, Dubai, India and other stock exchanges.

'Our goal is to promote the global presence of Taiwan's ETFs,' GreTai chairman Lu Daung-yen said in an interview with XFN-Asia.

'And by introducing foreign ETFs into the local market we can provide diversified products to meet investor demand,' he added.

The GreTai is a Taiwan's junior market for companies with less capital than required for a listing on the main board of the Taiwan Stock Exchange.

Lu said GreTai's efforts to get exchanges in the region and beyond interested in swapping listings of ETFs are beginning to pay off.

A recent accord with Singapore cleared the way for the listing of Taiwan's Polaris Taiwan Top 50 Tracker Fund and Singapore's STI ETF.

Lu said the Polaris Fund, which tracks an index of 50 leading Taiwan firms, is free to apply at any time for a listing in Singapore, while the STI ETF can apply to list on either GreTai or the main board of the Taiwan Stock Exchange once it completes the adjustment of its constituent lineup by the end of January 2008.

GreTai expects the Global Semiconductor Industry ETF to launch with it some time between March and May next year.

'The Semiconductor ETF will track an index of 50 global semiconductor leaders among wafer foundries, integrated circuit design houses, and integrated circuit packaging and testing companies,' Lu said.

Once it is trading in Taiwan, GreTai will encourage the Semiconductor ETF to seek a dual listing overseas.

Lu said the second half of next year may see the debut of the ISO CG ETF, tracking an index of 50 GreTai-listed stocks that are recognized for the quality of their corporate governance.

adela.lin@afxasia.com

by Adela Lin

xfnal/xfjamesa

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