SGX’s FX Volumes Jump in March as Momentum Builds

SGX's volumes rose across-the-board in March as it rounds out a positive Q1 2017

The Singapore Exchange (SGX) has reported its monthly volumes across its derivatives and commodities business for March 2017, which built on last month’s strong growth, en route to another positive performance across multiple segments.

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Despite seeing its volumes rise on a month-over-month basis, SGX’s turnover returned to a trend of tight consolidation of volumes that has been largely intact in Q1. March did feature more activity across markets however, helped by US monetary action, which jolted currency markets earlier in the month.

In terms of SGX’s latest turnover figures however, the group reported its securities volumes at $20.8 billion (S$29.1 billion) in March 2017, up 3.2 percent month-over-month from $20.1 billion (S$28.2 billion) in February 2017. The latest figures also indicated a higher performance over a yearly timeframe, relating to a growth of 7.0 percent year-over-year from March 2016.

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Furthermore, the SGX’s daily average value of trading in the month of March 2017, comprised of a total of 23 trading days (compared to 20 in February 2017), yielded $910.0 million (S$1.27 billion), falling by a factor of -9.3 percent month-over-month from $1.0 billion (S$1.40 million) in February 2017 – by extension, the average daily values of trading were higher by a 2.0 percent year-over-year from March 2016.

SGX’s total market capitalization during March 2017 climbed to $710.0 billion (S$1.0 trillion), good for a growth of 3.9 percent month-over-month from just $692.3 billion (S$971.0 billion) in February 2017. This figure encompassed the total market cap for all 753 listed companies on the SGX, losing four listings since the previous month.

FX Pointed Higher

SGX also built on a recent upward trend in its derivatives business, which now moved higher in March 2017. More specifically, March 2017’s volumes rose to 15.7 million contracts traded, vs. 12.5 million contracts in February 2017, or 25.6 percent higher month-over-month. This was lower though when measured against 2016, having retreated by -8.0 percent year-over-year from March 2016.

Finally, SGX’s total FX futures were reported at 744,327 contracts in March 2017, climbing by 26.5 percent month-over-month from 588,331 contracts in February 2017. Additionally, FX futures also were able to notch an advance of 56.0 percent year-over-year from March 2016.

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