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Deal on ETFs

THE Securities and Futures Commission of Hong Kong and the Taiwan Financial Supervisory Commission yesterday signed and exchanged a Side Letter to a bilateral memorandum of understanding which will facilitate cross listing of exchange-traded funds in the two markets. The SFC said that, under the terms of the Side Letter, ETFs listed on the Hong Kong or Taiwan stock exchange and managed by asset managers licensed respectively by the two bodies will be mutually recognized in each other's jurisdiction for the purpose of cross listings and offerings.


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