Derivatives

SGX kept at 'buy' by RHB as derivatives volume numbers remain strong

SINGAPORE (Apr 8): RHB Securities continues to rate Singapore Exchange (SGX) a “buy”, albeit with a lower target price of $8.10 from $8.20 previously.

In 3Q19, SGX’s securities average daily value (SADV) declined 31% y-o-y to about $0.97 billion.

In a Friday report, analyst Leng Seng Choons says, “We lowered our FY19 SADV to $1.04 billion from $1.07 billion, which is slightly above the 9M19 SADV of $0.99 billion. Our FY20 SADV assumption has been lowered to $1.12 billion from $1.29 billion – we expect global stabilisation to drive FY20F SADV higher y-o-y.”

SGX launches high-grade iron ore derivatives

SINGAPORE (Dec 3): Singapore Exchange (SGX) today launched SGX MB Iron Ore CFR China swaps and futures to complement the bourse’s bellweather 62% Fe Brazilian derivatives.

The new contracts reference the 65% Fe Brazilian fines index, CFR Qingdao, provided by Fastmarkets MB.

In a Monday announcement, SGX says the SGX MB Iron Ore CFR China swaps and futures have been designed in close consultation with market participants, and come with the aim of meeting demand for new risk-management tools amid a structural shift in China's environmental policy.

SGX market turnover up 1% in Oct; total derivatives volume hits all-time high

SINGAPORE (Sept 9): SGX reported a total securities market turnover value of $24.3 billion for the month of Oct 2018, up 1% y-o-y and 25% m-o-m.

There were 23 trading days in Oct this year. Comparatively, there were 20 trading days in Sept 2018 and 21 trading days in Oct 2017.

Securities daily average value (SDAV) fell 7% y-o-y but grew 9% m-o-m to $1.06 billion.

SGX market turnover rises 6% to $28.2 bil in May

SINGAPORE (June 7): Singapore Exchange (SGX) reported a 6% year-on-year increase in total securities market turnover value to $28.2 billion over 21 trading days in May.

This was also a 6% increase month-on-month, compared to total market turnover value of $26.7 billion in April.

Securities daily average value (SDAV) for May was $1.34 billion, up 6% m-o-m and up 6% y-o-y.

SGX highlights that SDAV hit a peak of $3.53 billion on May 31 – the highest single-day SDAV since May 31, 2013 – ahead of changes from MSCI’s May 2018 semi-annual review of its equity indexes.

Passive investors beware

SINGAPORE (June 4): Investors should be aware of the risks when it comes to investing in exchange-traded funds (ETFs) and notes (ETNs), especially those that track derivative products, say industry experts.

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SGX closes 2.1% lower on news of potential injunction

SINGAPORE (May 22): Singapore Exchange (SGX) is facing a potential interim injunction on the India equity derivative products it intends to launch in June this year, but maintains that it nonetheless will continue to list the products as planned.

To recap, SGX earlier announced its intention to launch three derivative products in June 2018 – SGX India futures, SGX India options and SGX India bank futures – to succeed the derivatives it used to offer on India’s benchmark Nifty 50.

SGX stock falls 2% before midday break on news of potential injunction

SINGAPORE (May 22): Singapore Exchange (SGX) is facing a potential interim injunction on the India equity derivative products it intends to launch in June this year, but maintains that it nonetheless will continue to list the products as planned.

To recap, SGX earlier announced its intention to launch three derivative products in June 2018 – SGX India futures, SGX India options and SGX India bank futures – to succeed the derivatives it used to offer on India’s benchmark Nifty 50.

SGX market turnover up 24% on-year to $26.7 bil in April

SINGAPORE (May 9): Singapore Exchange (SGX) saw a 24% year-on-year increase in total Securities market turnover value to $26.7 billion in April 2018.

Compared to March, the latest month’s total market turnover value was down by 4% month-on-month.

There were 21 trading days in April 2018 compared to 19 in April 2017.

Securities daily average value (SDAV) for April was up 12% y-o-y to $1.27 billion, but down 4% m-o-m.

Market turnover value of Exchange Traded Funds (ETFs) fell both y-o-y and m-o-m by 21% and 10%, respectively.

Singapore turns India's Nifty into a giraffe: Bloomberg Gadfly

HONG KONG (Apr 13): Singapore Exchange has announced a new product that an excited hedge-fund manager described to me as the "most brilliant use of finance."

That's an exaggeration, of course, though with a large grain of truth.

SGX says daily turnover grew 4% in March to $1.3 bil although daily volume fell 26%

SINGAPORE (Apr 6): Singapore Exchange says total securities market turnover value in March over 21 trading days was at $27.7 billion, down 15% m-o-m and down 5% y-o-y.

There were 19 trading days in February 2018 and 23 in March 2017.

Securities daily average value (SDAV) came in at $1.3 billion, down 24% m-o-m and up 4% y-o-y.

Market turnover value of Exchange Traded Funds (ETFs) was $254 million, down 26% m-o-m and down 29% y-o-y.

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