Fimat launches Taiwan operations

Hong Kong, 18 October 2005

Fimat, a leading global brokerage organization, today announced the launch of its Taiwan operations with the opening of an office in Taipei.

The office has been established to meet demand for Taiwanese derivatives from existing overseas customers, and as a result of recent liberalization of the financial markets in Taiwan. It will provide one-stop global brokerage services by experienced professionals, to execute and clear futures and options for both global institutions looking for access to the Taiwan market and local FCMs (Futures Commission Merchant) wishing to access Fimat’s global network.

"It is our goal to become one of the major players in the Taifex market and to provide an attractive alternative for local FCMs looking to trade overseas. We intend to build a business in Taiwan that mirrors our success in Singapore and Hong Kong, where Fimat consistently ranks in the highest positions in terms of trading volume," said Emmanuel Faure, CEO Fimat Asia (ex-Japan).

"I am very pleased to be adding Taifex, which ranks fourth in terms of options trading volumes and 18th in terms of exchange trading volumes, into Fimat Group's range of products and services. I believe that this complements the products and services that we offer in Asia Pacific very neatly," he added.

At launch, the office will comprise 11 professional staff including two expatriate executives and nine Taiwanese market professionals.

Prior to opening the Taiwan office, Fimat’s Singapore office had served some Taiwanese FCMs trading the MSCI Taiwan index on SGX-DT. Fimat Singapore is ranked No. 1 in terms of overall volume on SGX-DT, and number five in the MSCI Taiwan index products.

In recent years, Fimat has expanded its reach and range of services from exchange-based futures brokerage to a full range of international financial products and services spanning equity, forex, derivatives and commodities globally, across cash and derivatives markets.

In Asia Pacific, Fimat has offices in Singapore, Hong Kong, Korea, Japan and Australia.

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