The volume of the SGX Nikkei 225 contracts traded electronically during the regular Japan stock market trading hours on 1 November was 2,778. On 8 December, the corresponding volume set a new record high of 29,488 contracts. The average daily electronic trading volume of Nikkei 225 contracts from 1 November to 8 December during the regular Japan stock market trading hours is 12,071 contracts.
The electronic trading volume of Nikkei 225 Futures and Options now regularly exceeds 50% of the total SGX Nikkei trading volume in the last two weeks.
Mr Ang Swee Tian, President of SGX said, "We are encouraged by the response on SGX Nikkei 225 contracts. With the availability of the SGX Nikkei contracts on the electronic trading platform during the regular Japan stock market trading hours, we hope to reach out to those who trade derivatives products electronically and expand the usage of SGX Nikkei contracts as an effective trading and risk management instrument among global traders and investors. We are confident that with the robustness of our new trading engine and the various initiatives, the Electronic Nikkei 225 contracts will continue to grow strongly."
Electronic Trading Hours for Nikkei 225 Futures and Options
The Nikkei contract is available for trading on the SGX QUEST from 7.45 am to 10.15 am and 11.15 am to 2.30 pm Singapore time. It will therefore open 10 minutes earlier and close five minutes later than the open outcry market.
SGX QUEST
SGX QUEST is the world's first integrated trading engine for the exchange's securities and derivatives market. It is a new trading platform that supports a host of new products on an electronic platform and sophisticated trading strategies. SGX QUEST offers SGX a platform for global connectivity and a broader reach to market intermediaries and investors. SGX's progress towards introducing a wider range of electronic-based derivatives products was enhanced with the launch of SGX QUEST in its derivatives market on 16 August 2004. SGX QUEST is expected to be launched in the Exchange's securities market by 2005.
