Page 45 - Taiwan Futures Exchange 2019 Annual Report

4. Market Education and Promotions TAIFEX organized 32 educational seminars in 2019 supporting: the launch of Nasdaq-100 Futures and TPEx 200 Futures; the addition of TAIEX Options and foreign equity index futures to the Dynamic Price Banding Mechanism; the addition of gold products to the block-trading mechanism; amendments to block-trading rules and market with protection orders; improvements on the exposure coverage for all products; the introduction of liquidity disclosures for all products; adjustments to how margins are calculated for combination positions involving short calls and puts; and changes to the setting of final settlement prices for domestic equity index futures and equity futures. Using comprehensive and integrated promotions to provide investors with easy access to information, we also introduced educational webpages; produced posters, pamphlets and summaries; and published articles and advertisements in print media. In the area of institutional business promotions, TAIFEX partnered with the Life Insurance Association of the ROC and investment trust companies to hold forums on 1 August and 1 October on how insurers can use derivatives to hedge, and on new products and strategies. We also arranged a seminar on how listed companies can use derivatives to hedge on 13 December. More than 460 persons from insurers, investment trusts, and listed companies attended these events. In addition, TAIFEX used institutional visits, institutional training classes, coordination with FCMs on promotional events, and the Fifth Annual Diamond Awards, to encourage institutions to join the futures market. Over the last three years, 302 new institutional investors, including major banks, have participated in our market. In 2019, the institutional share of the market's average daily volume in FX, foreign-equity-index, and commodities products grew by 148%, 71%, and 81%, respectively, from 2018's levels. In addition, TAIFEX continued to incentivize market makers, FCMs and institutional investors through a variety of promotions, and to provide sponsorships that encourage FCMs and IBs to develop their own promotional activities. We also kept abreast of industry views by arranging two meetings with the managing directors of FCMs. These gatherings involve a broad exchange of perspectives on our operations and rules, and are given serious consideration when planning the further development of our market. In the area of media promotions, TAIFEX used a variety of business promotions and integrated marketing activities to effectively publicize our products and rules. These included: continuing to publish columns addressing the latest developments in the futures market in Taiwan's major financial dailies; continuing to distribute market data and updates on TV; partnering with the media to organize large-scale forums on topics including our new Nasdaq-100 and TPEx 200 products, and on the outlook for the Nasdaq in 2020; streaming talks about futures trading online; and working with the media to invite internet celebrities to make videos on the risks associated with options trading. 41