SGX’s Turnover Rebounds in March, FX Futures Fall Lower

Many core elements of SGX's business got back on track in March, led by securities turnover.

The Singapore Exchange (SGX) has released its monthly statistics and volumes across its derivatives and commodities business for March 2016, having again risen over a monthly basis and in every month of the calendar year thus far, according to an SGX statement.

In delving through the latest tranche of statistics, the securities turnover at SGX in March 2016 managed to rise to $20.1 billion (S$27.3 billion), up 13.3% MoM from $17.8 billion (S$24.1 billion) in February 2016 – when measured against its 2015 equivalent, the turnover figures also justify a YoY growth of 9.0% YoY from March 2015.

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Furthermore, the SGX’s daily average value of trading during March 2016, composed of a total of 22 trading days, was reported at just $890 million (S$1.2 billion), which related to a fall of -7.7% MoM from $960 million (S$1.3 billion) set back in February 2016, despite securing a 9.0% YoY growth from March 2015.

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The SGX’s total market capitalization also yielded $659.4 billion (S$894.3 billion) in March 2016, edging higher by 2.6% MoM from $643.0 billion (S$872.0 billion) in February 2016 – this also encompassed the total market cap for all 770 listed companies on the SGX, relative to 771 in the month prior.

Derivatives and Futures Back on Track

By extension, SGX’s derivatives business fared much better in March 2016 than the previous month, as volumes surged to 23.0% MoM to 17.1 million contracts traded, from just 13.9 million contracts in February 2015, paring last month’s declines. This trend was reinforced by a yearly growth, or 15.0% higher YoY from March 2015.

Equity index futures volume at the SGX was also much better this month, despite being unable to reclaim its February highs – the volumes came in at 13.7 million contracts in March 2016, up 18.1% MoM from 11.6 million contracts in February 2016, and up 3.0% YoY from March 2015.

Much as is seen in every previous month at the SGX, its most actively traded contract was the FTSE China A50 futures, which during March 2016, saw a total volume of 7.4 million, up 32.1% MoM from 5.6 million in February 2016. Lastly, the SGX’s total foreign exchange (FX) futures volume was 476,068, justifying a fall of -8.8% MoM from 522,043 in February 2016.

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