SGX May Volumes Show FX Futures and Securities’ Turnover Higher from April

SGX saw overall volumes up including in FX Futures in May amid mixed resuts.

Singapore Exchange (SGX) today reported its May 2016 trading statistics, with securities market turnover reaching 21.6 billion Singapore Dollars (SGD) or roughly $15.68 billion, up 3% compared to April on a month-over-month (MoM) basis.

Total volumes for SGX were lower by 6% in May when compared to the same month last year, meanwhile, the Securities Daily Average Values (SDAV) totaled SGD $1 billion ($726 billion) per day and was lower by 11% Year-over-Year (YoY) as this percentage worsened (from 6%) because May 2015 had one less trading day than last month.

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For the 21 trading days in May and April, SGX’s SDAV rose similarly by 3% in May, along with the rise in total volumes compared to the prior month. Amid declines in other segments (noted below) and despite the overall increase in volume, trading volumes for SGX’s foreign exchange products showed some remarkable improvements in May both MoM and YoY.

FX volumes up 34% from April

The  amount of volume for FX Futures stood at 507,022 in May, up 34% from April, and jumping 90% compared to May 2015. In addition, the INR/USD futures contract had 469,831 in volume during May, higher by 35% MoM and up 85% YoY, meanwhile, the largest gainer on a YoY basis in May was USD/CNH futures with volumes rising 394% to 30,671 and up by 20% from April.

Exchange Traded Funds (ETFs) at the SGX saw SGD $195 million in turnover, higher by 5% MoM, and down 1% YoY. SGX said that the 1 mainboard initial public offering (IPO) raised SGD $634.4 million, and 27 new bond listings were added which raised a combined SGD $12.3 billion.

Across 766 listed companies on the exchange’s venues, total market capitalization stood at SGD $894.7 billion ($652 billion) at the end of May 2016, according to the SGX trading update.

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Derivatives and index futures dipped

Derivatives trading at the SGX was down 9% MoM with 13.6 million in volume reported for May, and lower by 12% YoY. Equity index futures also declined 8% to 11.1 million in volume, and lower by 21% compared to the same month last year. The most active contract remained the FTSE China A50 index futures with 5.5 million in volume, yet was lower by 10% MoM, and sharply lower by 39% YoY.

Trading volumes rose for SGX Nifty 50 Index futures which had 1.9 million in volume, up 13% MoM, and higher by 6% compared to May 2015. Nikkei 225 futures at the exchange totaled 1.4 million in May, steeply lower by 31% from April, yet higher by 1% YoY.

The value of cleared OTC SGD Interest Rate Swaps totaled SGD$10.8 billion in May, lower by 29% MoM, yet higher by more than twice as much at 206% YoY.

SGX’s commodities derivatives segment saw volume decrease to 1.3 million in May and lower by 26% MoM, yet higher by 132% YoY. Forward freight derivatives volume fell 27% MoM to 53,477 in May, yet was three times higher up 300% YoY.

The news follows after SGX recently announced progress on its bid to acquire London-based Baltic Exchange, as detailed by Finance Magnates last month.


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