Singapore’s premier trading bourse, the Singapore Exchange (SGX) has reported trading metrics for the month of July across all asset classes. The exchange saw the highest growth in futures and options volume, with the total number of contracts reaching 8.8 million, a 52% increase from a year earlier.
Singapore, one of Asia’s largest financial centres benefits from being an open marketplace for neighbouring countries whose capital markets environments are closed to foreign investors or are still in their infancy. SGX lists index contracts from across the region, such as India’s; Nifty Futures and attracts a large number of Indian offshore trade flows.
Trading metrics July:
• Total futures and options volume increased 52% year-on-year to 8.8 million contracts.
• Year-on-year, China A50 Index Futures volume more than doubled to 1.7 million contracts and MSCI Taiwan Index Futures was up 30% to 1.9 million contracts. Nifty Index Futures was up 15% to 1.3 million contracts. Nikkei 225 Index Futures was up 44% from a year earlier to 2.7 million contracts and MSCI Indonesia Index Futures more than quadrupled to 32,737 contracts.
• Month-end open interest was up 21% year-on-year to 994,317 contracts.
• SICOM rubber futures volume was 21,603 contracts, up 6% from a year earlier.
• Total securities turnover was S$27.5 billion, up 2% year on year; securities daily average value (SDAV) was down 3% to S$1.2 billion year-on-year.
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• Catalist turnover more than doubled year-on-year to S$1.3 billion.
• Turnover of foreign-currency based Mainboard shares increased 48% to S$1.4 billion.
• Funds raised from bond listings decreased 53% year-on-year to S$10.9 billion. The biggest bonds listed included a US$1 billion Indonesian sovereign bond and a US$700 million bond issue from Sumitomo Mitsui Banking Corporation.
• A total S$5.3 billion notional of new OTC financial derivatives transactions were cleared, a decline of 23% year-on-year.
• Volume of OTC commodities cleared increased 68% year-on-year to 50,547 contracts.
• Volume of iron ore swaps cleared more than doubled to 46,433 contracts from a year earlier.
Singapore strengthened its trading relationship with India at the India Infrastructure Forum organised in June by the Singapore Exchange (SGX) and the Confederation of Indian Industry (CII). The exchange will extend its list of Indian contracts with the launch of the INR USD futures contract, this quarter.
Speaking at the event, Magnus Bocker, CEO of SGX, said in a statement: “India, one of the fastest growing economies in the world, offers a wide range of opportunities in infrastructure and many other sectors. Many Indian companies come to SGX, the Asian Gateway, to raise capital within a trusted environment to grow their business. Global investors also access Asia’s potential and manage their risks via SGX. We look forward to serving more companies including those from India as they expand and tap the region’s deep liquidity pool.”
SGX is a 5% shareholder in India’s, Bombay Stock Exchange.