SGX’s Derivatives and Futures Volumes Tank in February

While overall turnover increased MoM at SGX during February, derivatives, futures, and FX volumes were all noticeably lower.

The Singapore Exchange (SGX) has reported its monthly volumes across its derivatives and commodities activities for February 2016, which has now culminated in a consecutive monthly gain at the exchange venue, according to an SGX statement.

Securities turnover at SGX during February 2016 moved higher to $17.4 billion (S$24.1 billion), up 3.9% MoM from $16.8 billion (S$23.2 billion) in January 2016 – when compared against a yearly time interval, the latest figures in February 2016 were also higher, a 14.0% YoY ascension from February 2015.

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In addition, the SGX’s daily average value of trading during February 2016 was reported at $940 million (S$1.3 billion), a climb of 8.3% MoM from $870 million (S$1.2 billion) in January 2016.

The SGX’s total market capitalization also came in at $631.5 billion (S$872.0 billion) in February 2016, inching higher by 2.0% MoM from $618.8 billion (S$855.0 billion) in January 2016 – this included the total market cap for all 771 listed companies on the SGX.

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Derivatives and Futures Collapse

In terms of the SGX’s derivatives business, February 2016’s volumes were a very different picture, tumbling to 13.9 million contracts traded, snapping what had been a multi-month rise. This compared with last month’s 17.7 million contract figure, or -21.5% MoM. However these losses were muted compared to last year, which was 43.0% higher YoY from February 2015.

Equity index futures volume at the SGX was also noticeably worse, plunging to just 11.6 million contracts in February 2016, down -24.7% MoM from 15.4 million contracts in January 2016, and up 37.0% YoY from February 2015.

As is typically the case at the SGX, the FTSE China A50 futures were by far the most active contract traded on the exchange during February 2016, which reported a total volume of 5.6 million, down -31.7% MoM from 8.2 million in January 2016. Finally, the SGX’s total foreign exchange (FX) futures volume was 522,043, which represented a marginal drop of less than -1.0% MoM from 522,933 in January 2016.

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