SGX’s May Turnover Pointed Upwards, FX Sets 2017 High

Monthly turnover rebounded across-the-board as FX volumes scored a new 2017 high.

The Singapore Exchange (SGX) has released its monthly volumes across its derivatives and commodities segments for May 2017, having seen a healthy increase in its securities and derivatives trading. The latest figures represented a rebound so to speak, paring a portion of last month’s volumes retreat that was the lowest reading of 2017.

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In particular, securities and derivatives trading was more active in May 2017, helped by more dynamic market activity throughout the month. In terms of its H1 volumes, SGX saw a bottoming out of these two segments last month, ultimately breaking out of a tight consolidation of volumes over the past few months, peaking in March this year.

In terms of SGX’s latest turnover figures however, the group reported its securities volumes at $19.2 billion (S$26.5 billion) in May 2017, up 22.7 percent month-over-month from $15.7 billion (S$21.6 billion) in April 2017. The exchange also saw a total of 21 trading days compared to just 19 back in April. The latest figures did indicate a higher performance over a yearly timeframe, relating to a growth of 23.0 percent year-over-year from May 2016 – SGX has consistently bested its 2016 counterpart in terms of securities trading this year.

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Furthermore, the SGX’s daily average value of trading in the month also was pointed higher in tandem with stronger volumes during May 2017, having yielded $910.0 million (S$1.26 billion). This represented a gain of 10.5 percent month-over-month from $830.0 million (S$1.14 million) in April 2017, erasing last month’s decline off a recent high recorded earlier this year in March 2017. Average daily values of trading were higher by a 23.0 percent year-over-year from May 2016 as well, continuing a trend in H1 2017.

SGX’s total market capitalization during May 2017 reported at $720.0 billion (S$1.0 trillion), unchanged month-over-month from $720.0 billion (S$1.0 trillion) in April 2017. This figure encompassed the total market cap for all 751 listed companies on the SGX, losing one listing since the previous month.

FX Sets Yearly High

SGX also saw an improvement in its derivatives business on a monthly basis with several instruments benefitting from an improvement in volatility during the month. More specifically, SGX disclosed a figure of 14.7 million contracts traded in May 2017, vs. 13.6 million contracts in April 2017, or 13.1 percent higher month-over-month. This was also higher when measured against its 2016 equivalent, having gained 9.0 percent year-over-year from May 2016.

Another element of SGX’s business that saw an improvement in May 2017 was across its FX futures, which were reported at 749,143 contracts, good for an advance of 22.7 percent month-over-month from 575,660 contracts in April 2017, a new 2017 high. The strengthening of the SGD helped contribute to this trend, in conjunction with a weaker USD that was undermined by jitters in the United States.

Additionally, FX futures also were able to notch a strong yearly rise of 48.0 percent year-over-year from May 2016

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