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SGX total securities market value climbs 23% y-o-y to $24.3 bil in September

Felicia Tan
Felicia Tan10/12/2020 06:42 PM GMT+08  • 3 min read
SGX total securities market value climbs 23% y-o-y to $24.3 bil in September
The total securities market turnover value for September came in at $24.3 billion over 22 trading days.
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The Singapore Exchange (SGX) reported on Oct 12 that the total securities market turnover value for September came in at $24.3 billion over 22 trading days.

SGX said that the growth in capital market fundraising was mainly attributable to the optimism of improving market conditions, while uncertainties ahead of November’s US elections boosted portfolio risk-management activity across asset classes.

See also: SGX accelerates wind-down of pact with MSCI

This was 13.6% lower m-o-m from August’s turnover value of $28.15 billion, and 23% higher y-o-y compared to September 2019, which had 21 days.

During the month, securities daily average value (SDAV) climbed 18% y-o-y to $1.11 billion, although it represented a 21.5% drop m-o-m from August’s $1.41 billion.

Securities average clearing fee for the quarter was 2.74 basis points, an increase from 2.60 basis points a year ago due to a greater spread of participation by different market segments.

The market turnover value of exchange-traded funds (ETF) jumped 114% y-o-y to $325 million.

The amount brings the total for third quarter to $1.2 billion, up 110% y-o-y.

Foreign exchange (FX) futures volume saw strong gains m-o-m, which reflects heightened portfolio-hedging activity, according to SGX.

Total traded volume rose 26% in September to 2.2 million contracts, the highest in six months.

SGX INR/USD Futures traded volume climbed 36% to 1.4 million, while SGX USD/CNH Futures increased 10% to 803,494 contracts.

Trading in the SPDR STI ETF and Nikko AM STI ETF surged 183% y-o-y to $793 million in 3Q2020. For the 9M2020, the $807 million in combined net creations for the two ETFs was up 359% from FY2019.

The ICBC CSOP FTSE Chinese Government Bond Index ETF – which was listed on SGX in September – was the third most-actively traded ETF in terms of daily turnover in the month alone.

Total equity index futures traded volume on SGX climbed 9% y-o-y in September to 15.4 million contracts.

For the third quarter, equity index futures volume rose almost 12% y-o-y to 49.7 million contracts.

The new SGX FTSE Taiwan Index Futures, which was launched in July, recorded a daily trading average of about 32,000 contracts or US$1.4 billion ($1.89 billion), with open interest of US$458 million.

Commodity derivatives traded volume on SGX rose 18% y-o-y in September to 2.1 million contracts.

SGX’s bellwether iron ore derivatives climbed 18% y-o-y to 1.8 million, while forward freight agreements (FFA) gained 20% y-o-y to 83,402 contracts.

Overall, derivatives traded volume on SGX rose 5% y-o-y in September to 20.4 million contracts.

For July to September, the 63.9 million total was up 3.3% over the same period in 2019.

Shares in SGX closed 3 cents higher, or 0.3% up, at $9.10 on Oct 12.

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