Yuanta Futures 2016/04/13

Transcription

1 Yuanta Futures 2016/04/13 1

2 Agenda 1. Introduction Core Values Performance and profitability Achievement Appendix

3 Introduction 3

4 Asia Takes the Lead Asia-Pacific North America Europe Exchanges 25 Exchanges 14 Exchanges Volume 8.2 billion Growth Rate -0.2 % 2015 Volume 4.8 billion Growth Rate 8.2 % 2015 Volume 9.7 billion Growth Rate 33.7 % Market Share 33.1 % Market Share 19.3 % Market Share 39.2 % Source:FIA,as of Mar

5 Taiwan Futures Exchange (TAIFEX) had a total of 264,495,660 contracts in 2015, an increase of 30.67% from Daily trading in January 2016 reached 1,333,410 lots. TAIFEX will launch more new products and new systems in 2016, in hope to boost more trading volume. Futures Options Offshore Futures Trading Volume Soared in 2015 Market Growth 38.71% 15.37% 9.49% 19.29% 43.94% 95.69% Breakthrough in 2015 Launched new international products TAIFEX has launched Eurex/TAIFEX Link products, ETF futures and options, TOPIX index futures, and RMB forex futures to provide investors more options on international products. Diversified investment management ETF market has grown exceptionally in 2015, due to the DATA authority has approved launching of different types of ETFs, such as index ETFs, Futures ETFs, and leveraged/inverse ETFs, which helped expanding the futures market as well. Financial regulations IB was allowed DATA to trade offshore futures in December It has increased the trading volume of offshore futures. Digitalized finance To enhance e-services efficiency, the authority has provided several online services, such as online account opening services and online futures trading related service application. 5

6 Polaris Futures Brokerage Co., Ltd. Established. Merged with REFCO Taiwan Co., Ltd., and renamed to Polaris Refco Futures Co., Ltd. History of Yuanta Futures Signed an agreement with Man Financial Inc. (Singapore), and renamed to Polaris Futures Co., Ltd. The first futures company to invest in futures trust Merged with Yuanta Futures Co., Ltd, and renamed to Yuanta Futures. Established Hong Kong subsidiary. IB was allowed to broker offshore futures Established 24-hour customer service. The first IPO futures company in Taiwan Invested and established SYF Information (Shanghai) Limited to run business in China. Obtained the license for Leveraged Transaction Merchant. 1 billions Additional Paid-In Capital returned to shareholders 6

7 Business Category Futures IB Clearing Service Futures Brokerage Securities IB Scope of services Futures Consultant Managed Futures Leveraged Transaction Merchant Yuanta Futures provides trading products in the 8 major sectors including energy, precious metals, base metals, agriculture, stocks, bonds, interest and currency via a 24-hour global trading platform as well as provide in-depth research reports. 7

8 Management Team Chairman Tien Fu, Lin (Frank) Over 30 years experiences in securities industry. Executive Vice President Spokesperson YuHong, Kuo Over 25 years experiences in securities and futures industry. FCM- Senior Vice President Alex Hu President Hsiao Ling, Chou (Carolyn) Over 25 years experiences in banking, securities, futures, and securities investment industry. Golden Goblet Award - Excellent Corporate Leadership 20 years experiences in futures industry Golden Goblet Award - Excellent Futures Talent Proprietary- Senior Vice President Tony Lai Golden Goblet Award - Excellent Futures Talent Holds a record for no trading loss in 36 consecutive months Foreign Institution Investor Sales - Assistant Vice President - Johnny Cheng Over 10 years in FINI Sales. Experienced with foreign demands. IB- Vice President Alan Ko Vice President Joseph Chou Over 15 years of audit in finance industry Ex-partner of PwC Taiwan 20 years experiences in Yuanta group Domestic institution investor- Senior Vice President - Vivian Tsai With rich research background. Understands institutional investors needs. 8

9 Vision: Asia s Best Futures Company Client Margin continues to grow. Stable financial performance Diversified probability 深 耕 金 融 法人 A balanced operations Expand new customers and increase the rate of active account Raise the trading volume of different futures products Promote program trading Real-time and post risk managements Customized risk analysis Implement risk management Digital Finance Transform to digital finance. Increase the efficiency of e- services and the rate of mobile trading Establish ichannel to combine physical and virtual channels 9

10 IT Infrastructure Plan Korea Hong Kong Taiwan Trading Hub Singapore Trading DC Market Data DC 10

11 Core Values 11

12 Corporate Governance Shareholders Interests The average EPS is around TWD 3 since Cash dividend accumulated TWD after IPO. Integrity Committee Sustaining corporate development through implementing an integrity committee. Integrity Committee Shareholders interests Board of Directors Board of Directors Representing shareholders interests and enhancing transparence of committee nomination. Audit Committee Supervising the company s financial operations, internal control, regulatory compliance, and risk control for emphasizing an open and transparent management philosophy. Audit Committee Transparent management Transparent Management TWSE Corporate Governance Evaluation Award-Top 5% Corporate Governance 12

13 Strengths of Risk Management The 1st Futures Company to win the Golden Goblet Award for Outstanding Risk Management Build understanding of Trading Risk Mid-term Provide risk management tool Assist trading system construction Ex-Ante Ex-post Risk Management Report % Position Simulation 13

14 Rich Research Resources Diversified Researches Provide professional reports based on basic analysis, technical analysis, and market sentiment Integrated team Team members includes sales, consultants, and analysts to realize clients potential demands Market trend alerts Track volatility of popular global products Big data implement Options strategies Technical specifications Options sensitivity analysis Instant message push 24-hour global market monitoring A50 Report Focus on China financial market Provide Chinese and English reports for both domestic and international clients 14

15 Employee Education Background 268 Professional talents 308 Professional Certificate Securities and Futues Doctor Master College High School Futures Securities Senior Futures Specialist Specialist Securities trading 54 Specialist Analyst International Certificate Securities Investment Analyst The number of employee 360 Average age Average seniority 8.01 Chinese futures practitioners 16 Hong Kong Futures practitioners 2 1 CPA China Futures Investment Analysis 15

16 The Responsibility of Corporate Citizen Energy conservation Environment sustainability Social participation Strengthen corporate governance Sincerity managing Clients interests Employee interests Transparent The first futures company to publish CSR reports since

17 Awards and Recognition I n t e r n a t i o n a l Rewarded in 2014 and 2015 Industry Leadership Award Best Futures House in Taiwan Outperform from other global competitors FOW Awards for Asia 2015 Non-Bank FCM of The Year Other competitors D o m e s t i c 2015 National Brand Yushan Award Outstanding Enterprise & Popular Brand 2015 TAIFEX Diamond Award TWSE Corporate Governance Evaluation Award-Top 5% Corporate Governance CNFI Golden Torch Award 17

18 F i n a n c i a l P e r f o r m a n c e 18

19 We Know Taiwan, Embracing the Globe Leading Brand Best Choice No. 1 Market Share 11 Foreign Exchange Memberships 24-hour Best Quality of Services No. 1 market share in TAIFEX futures and options markets Devoted to promoting foreign futures through cooperation with associate companies in Hong Kong and Korea. Obtained most memberships among Taiwan brokers. (CME, CBOT, NYMEX, COMEX,SGX Trading, EUREX, TOCOM, ICE, NYSE (London, Paris, U.S.) Largest Client Services Team and IT Team 24-hour service continues for 22 years 24 hour Mobile instant market information 19

20 Market Dominance TAIFEX Futures TAIEX Options 20.89% 12.51% 1.4x 2.9x 3.1x 2.1x 2.1x 2.8x 15.22% 7.18% 6.67% 6.07% 5.83% 4.53% Yuanta Broker 1 Broker 2 Broker 3 Yuanta Broker 1 Broker 2 Broker % Off-shore F&O 1.7x 2.1x 2.9x 243 No. of IB Channels 2.7x 3.3x 3.7x 18.06% 14.00% 10.15% Yuanta Broker 1 Broker 2 Broker 3 Yuanta Broker 1 Broker 2 Broker 3 As of Dec 31 st Source: TAIFEX and CNFA. 20

21 Strong Financial Position Client Segregated Fund Shareholder's Equity x 2.89x 2.99x 2.30x 2.59x 3.53x Yuanta Broker 1 Broker 2 Broker 3 Yuanta Broker 1 Broker 2 Broker 3 Revenue Unit: 0.1 billion Pretax Earnings Unit: 0.1 billion x 1.88x 2.38x 1.62x 1.87x 2.76x Yuanta Broker 1 Broker 2 Broker 3 Yuanta Broker 1 Broker 2 Broker 3 note:1. Sources: TAIFEX as for 2015/12/31 Unit: 0.1 billion /4/1 Yuanta Futures merged with Polaris Futures 3. Revenue does not include disposal gain or loss from selling marketable securities, dividend revenue, unrealized gain or loss through fair value valuation, gain or loss from shortsell and Detachable bonds buyback, and gain or loss from derivatives 4. In 2015, the company paid the 1 billion NTD dividend from Additional paid in capital. Cash dividend per share is NT$ Unit: 0.1 billion 21

22 Profitability After Tax Earnings Book Value per Share Unit: 0.1 billion Unit: NTD EPS ROE Unit: NTD Note: /4/1 Yuanta Futures merged with Polaris Futures NT$277 million disposal gain from selling TAIFEX shares Cash Dividend NT$4.305 per share, total a billion NT dollars Unit: % 22

23 Dividend Policy & ROE Cash Dividend NO.1 Payout Ratio NO.1 Dividend Yield NO.1 ROE NO.1 Cash Dividend NO.1 Accumulated dividend distributed from 2012 to 2015 is NT$ per share. Payout Ratio NO.1 Average payout ratio from 2012 to 2015 is 70.79%. Dividend Yield NO.1 Average dividend yield is from 2012 to 2015 is 6.18%. ROE NO.1 Average ROE from 2012 to 2015 is 8.73%. 23

24 Retail Business FCM Retail IB Most branches in Taiwan Highest productivity per salesperson Most salespersons with China Licenses Largest Market Share in Program trading 219 IB channels with 52.78% market share. Excellent IB team with the most licensed analysts Provides most educational sessions/seminars to clients (around 200 monthly sessions in 2015) 24

25 Institutional Business Foreign Institutions Domestic Institutions NO.1 market share in TAIFEX market Clients across 5 continents including investment banks, hedge funds, program trading house, high frequency trading clients NO.1 client segregated fund Provides professional services and rich IT resources to help clients enter Taiwan market in a diversified, convenient, and efficient way. NO.1 market share in TAIFEX market NO.1 client segregated fund NO.1 market share in domestic investment fund companies Provides best execution services and research resources via the leading-edge personnel 25

26 2015 Soaring Growth in Institutional Business ETF market has been increasing sharply in The trading volume of institution investor has grown accordingly. Yuanta Futures aligns with 20 IB s to promote offshore futures, which had the trading volume of IB increased sharply in 2015 TAIFEX Futures FCM IB Institution TAIFEX Options FCM IB Institution Foreign Futures FCM IB Institution 92.09% % % % 19.33% % % % % Unit:10,000 lots * As for 2015/12/31 26

27 Achievement 27

28 New Products Promoting Campaign TAIFEX Diamond Award for Best Promoting FCM RMB Futures RMB Futures Trading Accounts 2015 market share 37.23%, NO. 1 China-linked ETF Options TOPIX Futures 2015 market share 24.79%, NO. 1 RMB Futures (RHF) 2015 market share 23.42% China-linked ETF Futures 2015, took 21.22% of total market share. NO. 1 market share in Fubon SZSE 100 Index ETF Futures (24%) Fuh Hwa CSI300 A Shares ETF Futures(22%) W.I.S.E Yuanta/P-shares CSI 300 ETF (20.6%) RMB Futures (RTF) 2015 market share 14.56% 28

29 Top-notch Consulting Service Rich Courses Membership Unit:NT$10000 Provides knowledgeable courses via diversified channels to enhance clients trading skills Provides professional researches and latest courses information Multicharts Cooperates with global Pushes the operating brokers to hold practice performance via program courses Practice trading MultiCharts 24% 158 % % 29

30 Trading Platform Multiple trading platforms catering different needs Yuanta Futures provides different types of clients with proper trading platforms, such as EasyWin, Yeswin, ewinner, and Money 888. For institutional clients, Yuanta Futures also provides API, FIX and 3 rd party trading platforms to satisfy the need of stable quotation and speedy trading. Diversified Trading Platforms Mobile Trading In order to meet the demand of mobile trading, Yuanta Futures provides Mobile ewinner and Yuanta Mobile APP for investors to trade anywhere anytime. Trading Platform Trading Products Advantage Easywin Money 888 Yuanta API Yeswin ewinner Mobile Ewinner Domestic Futures/Options and Foreign Futures Futures/Options Only, fast and rich functions Provide TAIFEX and global futures market info. Especially for strategic trading Equities, Domestic Futures/Options, and Foreign Futures Rich market info, global wealth manamgent platform Can trade equities, futures and options Mobile Trading Yuanta Mobile APP Equities, Domestic Futures/Options, Type of clients Futures and option trader strategic trader For equity, futures, options trader Mobile Trader 30

31 Digital Finance and Channel Integration Digitalization Mobilization Yuanta Futures APP Provides market notices 24-hour instant info. and researches, consulting course intro. and marketing campaign info. Financial Investment Yuanta Futures FB Provide global market info., researches, consulting course, foreign market trends, aiming at seize the demand via interaction on Facebook 31

32 Appendix 32

33 Condensed Balance Sheet 註 1: 上列各年度財務資料均經會計師查核簽證 註 2: 截至報告出具日, 尚未經股東常會分派盈餘 註 3: 其他非流動資產係指非流動資產項下不動產及設備以外之非流動資產 33

34 Condensed Income Statement 註 1: 上列各年度財務資料均經會計師查核簽證 註 2: 稅前損益及稅後損益並不含其他綜合損益部分 34

35 Thanks for Listening Website Yuanta Futures APP Yuanta Futures Facebook 35