Derivatives drive growth in May as securities continue to stumble
Securities turnover slipped 2% in May.
Derivatives continued to drive growth for the Singapore Exchange in May, while its securities business were dragged by lacklustre trading volumes.
The SGX said that derivatives volume was 15.4 million contracts, a staggering 89% jump from a year earlier. This growth was driven by intense activity in its FTSE China A50 futures contract.
However, securities turnover slipped 2% year-on-year and 13% month-on-month, with daily average value of trading down 2% on-year to $1.1 b.