SGX’s October Volumes Fall Across the Board, FX Down Double Digits

October represented a stumble for SGX in terms of volumes, with each business segment registering a decline MoM

The Singapore Exchange (SGX) has just reported its comprehensive volumes across its derivatives and commodities business for the month ending October 2016, which was virtually unchanged MoM across its securities and derivatives operations, registering a consecutive month of tightly consolidated volumes at the exchange, according to an SGX statement.

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Looking at SGX’s latest turnover figures, the group reported its securities volumes at $14.1 billion (S$19.6 billion) in October 2016, down -5.3% MoM from $14.9 billion (S$20.7 billion) in September 2016 – in light of this decline, the latest figures also reflect a lower performance over a yearly timeframe, with October 2016’s figures relating to a fall of -15.0% YoY from $16.7 billion (S$23.1 billion) in October 2015.

Furthermore, the SGX’s daily average value of trading in the month of October 2016, comprised of a total of 21 trading days, yielded $673.2 million (S$934.0 million), falling by a factor of -5.1% MoM from $709.2 million (S$984.0 billion) in September 2016 – by extension, the average daily values of trading were lower by a -11.0% YoY since October 2015.

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Another area of focus was seen across the SGX’s total market capitalization, which during October 2016 climbed to $657.4 billion (S$912.1 billion), virtually unchanged MoM from $662.1 billion (S$918.5 billion) in September 2016. This figure encompassed the total market cap for all 760 listed companies on the SGX.

FX Pares Recent Gains

For the third straight month, SGX’s derivatives business was pointed lower in October 2016. More specifically, October 2016’s volumes fell to 11.5 million contracts traded, vs. 13.4 million contracts in September 2016, or -14.2% MoM. This was also slightly higher when measured against 2015, having edged higher by 2.0% YoY from October 2015.

Looking at equity index futures, volumes at the SGX were on the decline in October 2016 despite the widespread increase in the same metric at virtually every other regional exchange – the overall volume fell to 9.4 million contracts in the month, which justified a decline of -16.1% MoM from 11.2 million contracts in September 2016, as well as a fall of -9.0% YoY from October 2015.

Finally, October 2016 saw volumes of FTSE China A50 futures capture a total volume of 4.2 million, down -16.0% MoM from 5.0 million in September 2016. The SGX’s total foreign exchange (FX) futures volume was 499,028 in October 2016, constituting a jump of -10.8% MoM from 559,665 in September 2016.

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