Robust trading across asset classes sends SGX securities turnover value up 78% on year in March

[SINGAPORE] The total securities market turnover value on the Singapore Exchange (SGX) rose 78 per cent year on year (yoy) to S$52.8 billion in March, the bourse’s monthly market statistics report released on Thursday (Apr 9) indicated.

The securities daily average value (SDAV) grew 62 per cent yoy to S$2.4 billion.

On a month-on-month basis, the securities market turnover value climbed 37 per cent; the securities daily average value rose 12.1 per cent to S$2.1 billion.

Derivatives traded volume jumped 40 per cent yoy to 38.3 million contracts, a record high, while the daily average volume grew 35 per cent yoy to 1.8 million contracts.

SGX said: “Strong investor demand for risk management and investment tools from a trusted marketplace drove volumes across both securities and derivatives.”

Growth was recorded in all customer segments, with institutional activity up 13 per cent month on month as retail participation reached a 13-year high – contributing to the highest SDAV since October 2007.

The bellwether Straits Times Index (STI) remained relatively resilient, outperforming most regional peers to maintain a 5.2 per cent year-to-date gain.

Institutions continued to net purchase small and mid-cap stocks for the third consecutive month, adding S$218 million in March and bringing the 12-month total to over S$600 million, said SGX.

In the first quarter of 2026, securities turnover rose 32 per cent yoy to S$126 billion, and the average securities net clearing fee was 2.61 basis points.

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Derivatives volume increased 16 per cent quarter on quarter to 97.5 million contracts. The average net fee per contract for equity, currency and commodity derivatives was S$1.16.

Strong buy-side demand for Singapore equity derivatives was also observed in Q1.

The derivatives daily average volume (DAV) of SGX MSCI Singapore Index Fund rose 8 per cent quarter on quarter to 55,607 contracts.

SGX MSCI Singapore Net Total Return Index recorded 44 per cent quarter-on-quarter growth in open interest of US$512 million, while the price return version of SGX MSCI Singapore Index Futures DAV held steady at 59,658 lots in March.

The Micro SGX Straits Times Index Futures debuted on Mar 9, with DAV quadrupling from 490 contracts in the first week of trading to 1,967 contracts by the last week of the month, said the bourse.

Net inflows into SGX-listed exchange-traded funds (ETFs) rose to S$468 million in March, bringing the year-to-date inflows to S$1.3 billion.

Assets under management expanded to S$19 billion among 53 ETFs for the quarter, while turnover hit a record S$3.87 billion and quarterly SDAV reached a new high of S$63 million.

The rise was partly driven by a 22nd consecutive month of net inflows into gold ETFs, totaling S$2.2 billion since June 2024.

In forex, the total futures traded volume surged 79 per cent yoy in March to an all-time high of 11.7 million contracts, lifting the tally for Q1 to a record 28 million contracts.

SGX said: “The Middle East conflict fuelled a sell-off in Emerging Market Asia currencies, driving risk management on SGX Derivatives in the Korean won, Indian rupee and Taiwan dollar.”

Price volatility in the physical markets boosted hedging activity on SGX commodities in March. In Q1, total commodity derivatives volume rose 13 per cent quarter on quarter to 20.1 million contracts.

SGX Sicom Rubber derivatives traded volume jumped 67 per cent month on month to a record 500,002 contracts. “Robust participation lifted DAV during the overnight sessions to a new high of 4,172 lots, contributing to 18 per cent of daily volume.”

Petrochemical derivatives hit a record volume of 7.8 million metric tonnes. Forward freight agreement volumes for both dry bulk and container rose 49 per cent month on month to 320,497 contracts – also a new high – amid supply-chain disruptions caused by the ongoing conflict.

Shares of SGX ended Thursday 0.6 per cent or S$0.12 higher at S$20.31, before the announcement.