Singapore Exchange (SGX) has seen “significant growth” in the trading of its securities in September with total market turnover value up 75% y-o-y and 5.6% m-o-m to $30.38 billion. Securities daily average value (SDAV) was up by 67% y-o-y and 5.6% m-o-m to $1.45 billion. Both measures are at their highest since May 2022.
At the same time, September saw two more delistings, bringing SGX’s total number of listed securities to 620, down from 622 in August and from 635 in September 2023.
The Mainboard had 413 listed securities, down from August’s 415 and 429 in September last year, while the Catalist board remained unchanged m-o-m with 207 listings. September 2023 had 206 listings on SGX’s Catalist board.
That said, the benchmark Straits Times Index (STI) rose 4.1% m-o-m to 3,585.29 points in September with year-to-date (ytd) gains of 10.6%.
Derivatives continued to do well with activity accelerating across multiple asset classes. Derivatives traded volume climbed 34% y-o-y and 17.3% m-o-m in September to 28.9 million contracts, while derivatives daily average volume (DDAV) increased 35% y-o-y and 28.0% m-o-m to 1.45 million contracts. Among the asset classes, equity index futures saw volume up by 37% y-o-y while foreign exchange (FX) futures volume rose by 35% y-o-y. Commodity derivatives volume grew by 29% y-o-y.
SGX’s flagship equity derivatives contract, SGX FTSE A50 Index Futures, rose to a new high of 1.24 million contracts on Sept 26 and reached a month-end notional record of US$17 billion ($22.17 billion). DAV for the contract climbed to a four-year high of 552,651 lots or US$6.8 billion thanks to a 128% m-o-m surge in overnight T+1 volume.
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The DAV of SGX USD/CNH FX Futures rose to a notional high of US$17.4 billion or 174,372 lots in September, up 12% from the previous record in August. USD refers to the US dollar while CNH refers to the Chinese renminbi (RMB) funded within the offshore market.
Total FX futures volume climbed 35% y-o-y in September to 5.5 million contracts, led by a 55% y-o-y increase in SGX INR/USD FX Futures volume. INR refers to the Indian rupee.
In September, over-the-counter (OTC) FX average daily volume (ADV) also saw a record US$148 billion, up 46% y-o-y.
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On SGX Commodities, total derivatives volume rose by 29% y-o-y to a record 6.94 million contracts in September thanks to growths across SGX SICOM rubber and petrochemicals contracts, as well as iron ore. SICOM refers to Singapore Commodity Exchange Ltd, which SGX acquired in June 2008.
Shares in SGX closed 21 cents higher or 1.84% up at $11.61 on Oct 9.
