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Taiwan and Korea Exchanges announce cross listing of ETFs

First Published 9th October 2016

Taiwan Stock Exchange and Korea Exchange expand ties with cross-listed ETFs.

The Taiwan Stock Exchange (TWSE) and the Korea Exchange (KRX) announce the cross listing of ETFs tracking the benchmark indices of both markets. The move will expand links and cooperation between the two bourses. Both ETFs will be the first index-based products to track Korean and Taiwanese securities in each market.

In Taiwan, the "Yuanta Korea KOSPI 200 ETF" listed on TWSE. Managed by Taiwan's Yuanta Securities Trust, tracks the benchmark KOSPI 200 index, which consists of the 200 largest companies listed on the KRX's KOSPI market and represents 95% of its total market capitalization.

In Korea, the "TIGER TAIWAN TAIEX(H) ETF" listed on KRX. Managed by Korea's Mirae Asset Global Investment, tracks the benchmark TAIEX index, which covers all listed common shares traded on TWSE and is the benchmark index for the Taiwan securities market.

The KRX and TWSE will continue to work together on new projects, which could include jointly compiling new indices of Taiwanese and Korean-listed companies based on themes such as high dividends or prominence in the technology industry.