SGX securities trading value up 27% in September as derivatives volume rebounds

[SINGAPORE] The securities daily average value (SDAV) on the Singapore Exchange (SGX) grew 27 per cent year on year in September to S$1.9 billion, though it eased 11 per cent month on month as the Straits Times Index (STI) paused following August’s record-breaking rally.

The total securities market turnover for September rose 27 per cent year on year to S$42.2 billion across 22 trading days, said the bourse operator on Monday (Oct 12).

On a month-on-month basis, total securities turnover slipped 2.5 per cent from S$43.3 billion in August.

Shares of SGX rose as much as 3.7 per cent on Monday after the announcement, with the counter rising as high as S$21.49 at 3 pm. They closed at S$20.73, up 0.4 per cent or S$0.09 on the day.

Overall derivative activity rebounded on a month-on-month basis. Total derivatives traded volume grew 10 per cent month on month to 29.8 million contracts, though this marked a 2 per cent decline year on year.

Derivatives daily average volume (DAV) rose 7 per cent month on month to 1.4 million contracts, remaining flat compared with the previous year.

SGX STI Futures recorded strong momentum with volume more than doubling month on month to 75,477 contracts in September. SGX MSCI Singapore Index Futures registered 1.07 million contracts, with month-end open interest standing at 202,745 contracts.

Foreign exchange derivatives saw accelerated growth, with total traded volume rising 53 per cent year on year to 9.6 million contracts. Chinese renminbi, Indian rupee and Korean won contracts remained key movers.

Total volume for the SGX USD/CNH FX Futures jumped 47 per cent year on year to 4.87 million contracts. Volume for the SGX INR/USD FX Futures climbed 59 per cent year on year to 3.89 million contracts, while SGX KRW/USD FX Futures (Mini) volume more than doubled year on year to 732,267 contracts.

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STI consolidates off highs

The STI consolidated following successive record highs in August, closing September at 5,675.88 points. This represented a slight 1 per cent dip month on month, but a 32 per cent gain year on year.

Sector-wise, the FTSE ST Real Estate Investment Trusts Index fell 6 per cent month on month to 623.91, while the FTSE ST Small Cap Index declined 2 per cent to 315.35.

In commodities, SGX cleared 4.6 million contracts of IODEX Iron Ore Futures in September, while total SICOM rubber derivatives volume surged 69 per cent year on year to 455,327 contracts.