SGX securities trading turnover hits $30.4b, up 75% YoY

The bourse attributed its gains to the easing of monetary policies.

The Singapore Exchange (SGX Group) saw significant growth in its securities trading activity in September, recording a market turnover value of $30.4b, a 75% increase from last year.

Its securities daily average value (SDAV) also saw a surge, jumping 67% YoY to $1.45b.

According to SGX, these are the highest figures for both metrics since May 2022.

SGX attributed its gains to the easing of monetary policies and optimism fueled by China’s stimulus package, which drove portfolio repositioning.

"With China’s economic outlook still driving regional volatility, SGX Group remained the venue of choice for market participants managing Asia exposures with unrivalled efficiency," SGX said.

These factors also helped boost the bourse's derivatives traded volume to 28.9 million contracts, a 35% increase from September 2023.

In September, SGX also achieved single-day records in derivatives trading volume on two consecutive days, with the highest volume reaching 3.46 million contracts across equities, foreign exchange (FX), and commodities on 25 September.
 
Meanwhile, the daily average volume of derivatives (DAV) increased by 35% YoY to 1.45 million contracts.

Each measure reached its highest level in four and a half years in September.

In the same month, the bourse hit an all-time high for its total FX futures traded volume, climbing 35% YoY to 5.5 million contracts.

SGX INR/USD FX Futures led the increase, with volume up 55% YoY.  SGX USD/CNH FX Futures volume also increased, rising 12% YoY to US$17.4b contracts.

Within commodity derivatives, the increase was driven by SGX SICOM rubber derivatives and iron ore.

SICOM rubber hit a record 421,113 lots, with a single-day option volume high on 30 September as TSR20 prices rose. 

Petrochemical derivatives reached a three-year high with a monthly average open interest (OI) of 2.56 million metric tonnes. 

Iron ore derivatives also set a single-day record of 597,467 lots and a new monthly average OI of 3,178,291 lots. 

Overall, total commodity derivatives volume increased 23% YoY to 18.1 million contracts.