The Singapore Exchange (SGX) reported total securities market turnover of $25.76 billion for the month of September over 22 trading days.

According to the latest monthly statistics released on Oct 11, the amount represents a 4.72% y-o-y decline from the $27.03 billion in September 2021, which also had a total of 22 trading days.

On a m-o-m basis, September’s turnover value increased by 6% instead, thanks to the constituent stocks on the benchmark Straits Times Index (STI) and real estate investment trusts (REITs) traded on the exchange.

The STI slid 2.8% to 3,130.24 points in September, with its constituent stocks seeing over $300 million in net institutional flows. The largest inflows during the month went to DBS Group Holdings, Oversea-Chinese Banking Corporation (OCBC) and Singapore Telecommunications (Singtel).

In cash equities, securities daily average value (SDAV) fell 4.72% y-o-y but rose 5.97% m-o-m to $1.17 billion.

Derivatives daily average volume (DDAV) rose 1.58% y-o-y and 14% m-o-m to 1.05 million contracts. On Sept 27, SGX achieved a single-day record of 2.97 million contracts.

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The total traded derivatives volume in September increased by 5.1% y-o-y and 14% m-o-m to 22.28 million contracts. According to SGX, the higher derivatives trading volume increased to a record during the month on the back of higher activity in foreign exchange (FX) and commodity futures. This came as challenging macro conditions spurred institutional demand to manage portfolio risk.

The total market turnover value of exchange-traded funds (ETF) stood at $315 million, down 17% y-o-y but up 25% m-o-m. The higher m-o-m figure was supported by fixed income and commodity ETFs.

During the month, turnover of structured warrants plunged by 41% y-o-y but grew 8.9% m-o-m to $281 million. Daily leverage certificates (DLC) in September stood at $371 million, which was up by 78% y-o-y and 5.7% m-o-m.

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In September, equity index futures volume fell 3% y-o-y but climbed 9.3% m-o-m to 15.1 million contracts.

Foreign exchange (FX) futures volume increased by 48% y-o-y and 30.5% m-o-m to 3.42 million contracts, making this an all-time high for the exchange. Total notional traded value for FX futures stood in excess of US$205 billion ($294.38 billion).

During the period, market expectations for the US Federal Reserve to continue raising interest rates drove volatility on key Asian currencies including the Chinese renminbi (RMB) and the Indian rupee.

In September, SGX USD/CNH Futures volume gained 36% m-o-m and 73% y-o-y to 1.6 million contracts, which was also a record for the exchange.

Open interest increased 19% y-o-y to US$11.12 billion, consolidating the contract’s position as the world’s most widely traded international RMB futures.

SGX INR/USD Futures volume was up 25% m-o-m and 26% y-o-y at 1.63 million contracts.

The SGX FTSE China A50 Index futures fell 16% y-o-y and 2.88% m-o-m to 7.77 million contracts.

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SGX Nifty 50 Index futures traded volume plunged by 47% y-o-y but rose 21.4% m-o-m to 5.07 million contracts.

Benchmark iron ore derivatives volume for the month of September rose 24% y-o-y to 2.61 million contracts. The figure rounds off the July-to-September quarter at 8.78 million contracts, representing another record high for SGX.

Trading velocity also increased for shipping derivatives, with forward freight agreements (FFA) volume up 9% m-o-m at 173,931 contracts.

In commodities, SGX’s total traded volume climbed 23% y-o-y in September to 3.04 million contracts.

Equity index futures volume rose across the board on the back of heightened risk-management activity triggered by central banks’ policy tightening, climbing 9% m-o-m in September to 15.1 million contracts.

Month-end open interest in SGX MSCI Singapore Index Futures increased to a new high of 208,100 contracts.

In September, SGX Securities welcomed the listing of CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF, which brought total global assets under management (AUM) of sustainability-linked ETFs on SGX to more than $1 billion.

Shares in SGX closed 3 cents lower or 0.32% down at $9.27 on Oct 11.

SGX total securities market down by 4.7% y-o-y to $25.76 bil in Sept

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SGX total securities market down by 4.7% y-o-y to $25.76 bil in Sept

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