SGX’s September Metrics In Holding Pattern, FX Grows Double Digits

FX volumes were a notably strong at SGX in December, growing by double digits MoM.

The Singapore Exchange (SGX) has just reported its aggregated volumes across its derivatives and commodities business for the month ending September 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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A closer look into SGX’s latest turnover figures showed that its securities volumes during September 2016 came in at $15.1 billion (S$20.7 billion), virtually unchanged MoM from $15.0 billion (S$20.6 billion) in August 2016 – despite this, the latest figures do constitute a lower performance over a yearly timeframe, with September 2016’s figures corresponding to a fall of -8.0% YoY from $16.4 billion (S$22.5 billion) in September 2015.

Moreover, the SGX’s daily average value of trading in the month of September 2016, comprised of a total of 21 trading days, yielded $716.9 million (S$984 million), rising by a factor of 5.1% MoM from $682.2 million (S$936 billion) in August 2016 – by extension, the average daily values of trading were lower by a -13.0% YoY since September 2015.

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Another area of focus was seen across the SGX’s total market capitalization, which during September 2016 climbed to $669.1 billion (S$918.5 billion), rising steadily by 1.3% MoM from $662.7 billion (S$909.7 billion) in August 2016. This figure encompassed the total market cap for all 763 listed companies on the SGX.

FX Grows Double Digits

For the second straight month, SGX’s derivatives business was pointed lower in September 2016. More specifically, September 2016’s volumes fell to 13.4 million contracts traded, vs. 13.8 million contracts in August 2016, or -2.9% MoM. This was also slightly lower when measured against 2015, having retreated -5.0% YoY from September 2015.

Looking at equity index futures, volumes at the SGX were on the decline in September 2016 despite the widespread increase in the same metric at virtually every other regional exchange – the overall volume fell to 11.2 million contracts in the month, which justified a decline of -3.4% MoM from 11.6 million contracts in August 2016, as well as a fall of -8.0% YoY from September 2015.

Finally, September 2016 saw volumes of FTSE China A50 futures capture a total volume of 5.0 million, down -16.7% MoM from 6.0 million in August 2016. The SGX’s total foreign exchange (FX) futures volume was 559,665 in September 2016, constituting a jump of 22.3% MoM from 457,747 in August 2016.

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