ASX Reports Upbeat Activity for September Amid Increased Trading Volumes

The metrics reflected a substantial rise in futures contracts with Average Daily Contracts up 112.3 percent MoM.

The Australian Securities Exchange (ASX) has today released its monthly activity report for September 2016, which was characterised by a notable increase in trading volumes, compared with last month’s seasonal lull, according to an ASX statement.

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For the month ending September 2016, the value of ASX-listed stocks, as measured by the All Ordinaries Index, fell marginally by 0.1 percent. This performance was in contrast to some major markets, including the UK up 1.7 percent, Singapore up 1.7 percent and Hong Kong up 1.4 percent. Declines were also observed in Japan down 2.6 percent, Germany down 0.8 percent and the US down 0.1 percent.

Volatility measures for the Australian equity market increased during September as measured by the average daily movement in the All Ordinaries Index, 0.6 percent in September, up on the previous month’s 0.4 percent. Expected future volatility, as measured by the S&P/ASX 200 VIX, rose in September to an average of 14.4 compared to 13.2 in August.

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Metrics Breakdown

Moving to market specifics in September 2016, the ASX raised $3.4 billion in total capital during the month, which was lower by -45 percent MoM from $6.2 billion in August 2016. Across its initial capital raise, the exchange raised $144 million during the month of September compared with $2.51 billion for August 2016, reflecting a decline of -94.4 percent MoM.

The total value of cash markets for the ASX during September 2016 was $108.9 billion, down -1.5 percent YoY from $110.6 billion in September 2015. The ASX also reported a marginal decline in its average daily value on-market, yielding a figure of $4.25 billion in September 2016, down approximately -2.1 percent YoY from $4.34 billion in September 2015.

On a positive note, the ASX also disclosed its futures trading statistics during September 2016, yielding a total of 15.56 million futures contracts traded during the month, increasing substantially by 102 percent MoM from 7.7 million contracts in August 2016. Average daily contracts were 707,024 in September 2016, compared with just 332,967 contracts in August 2016, a healthy increase of 112.3 percent MoM.

Finally, the notional value of over-the-counter (OTC) interest rate derivative contracts centrally cleared during September 2016 was $446.5 billion, against $299.6 billion in August 2016 reflecting a rise of 49 percent MoM. The figure was also up an impressive 621.3 percent YoY from $61.9 billion in September 2015.

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