SGX Volume up 11%

Singapore’s premier bourse has surprisingly had a positive August, the Securities and derivatives trading volumes in the Singapore Exchange (SGX)

Singapore’s premier bourse has surprisingly had a positive August, the Securities and derivatives trading volumes in the Singapore Exchange (SGX) grew in August from a month earlier, but decreased from a year ago.

Turnover for securities was up 11 per cent in August, but the daily average value dropped 29 per cent from the same period last year to S$29.4 billion.

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Compared with July, the daily average value was up 16 per cent to S$1.4billion.

Derivatives trading volume, however, fell 20 per cent to 6.5 million contracts from the same period last year, but was up 12 per cent month-on-month.

Meanwhile, derivatives daily average volume rose 8 per cent from July to 292,558 contracts.

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On the commodities front, SGX said SICOM rubber futures volume rose 9 per cent from a year earlier to 20,052 contracts.

AsiaClear volume was up 76 per cent from a year earlier to 38,483 contracts.

OTC iron ore swaps volume hit a record high for the second straight month, more than tripling from a year earlier to 29,763 contracts. Volume was 42 per cent higher from July.

The SGX was involved in merger talks with Australia’s ASIC, potentially creating one of the largest exchanges in Asia-Pacific valued at $14 billion.

Forex Magnates research team have written a detailed report on the state of FX in Singapore, FXCM had recently withdrawn from the market and passed on clients to a local broker. The report is available in the Q1 quarterly report.

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