SGX Derivatives Trading Grows

Singapore Exchange’s (SGX) derivatives trading continued to grow in March but securities market activity declined.

Securities

Daily average value was down 27% from February at $1.3 billion and 19% lower year on year.
Exchange traded funds turnover grew 48% to $622 million from February but was down 42% year on year.
Structured warrants volume grew 12% to 5.7 billion units from February, and more than doubled from a year earlier.

Derivatives

Daily average volume grew 9% to 353,683 contracts compared with February but slid 7% year-on-year.
China A50 futures volume more than tripled to 661,587 contracts from a year earlier, MSCI Taiwan futures trading grew 9% year on year to 1.6 million contracts and S&P Nifty futures volume also increased 9% from a year earlier to 1.3 million contracts. Nikkei 225 futures volume was 3.1 million contracts, down 37% from the spike in activity a year earlier caused by high volatility in the Japanese equity markets. Compared with February, Nikkei 225 futures trading grew 29%.

Commodities and clearing

Trading of SICOM rubber futures eased 2% year on year to 18,235 contracts.
Volume of OTC commodity contracts cleared more than doubled to 23,808 contracts from a year earlier. Volume of iron ore swaps cleared almost tripled to 11,625 contracts from a year earlier.
OTC interest rate swaps cleared totalled a notional $213 billion since the November 2010 launch; volume of new deals cleared in March was $9.0 billion, up 55% year-on-year.

Fixed Income

Bond listings more than doubled to $25 billion from a year earlier and grew 53% from February.
The biggest listings were Mizuho Corporate Bank’s US$1.5 billion 2017 senior notes, Sumitomo Mitsui Banking Corporation’s US$1.5 billion 2022 bonds and Genting Singapore’s $1.8 billion perpetual bonds.