Singapore Exchange (SGX Group) today released its market statistics for April. In a month of tariff-driven volatility, global investors leaned on SGX Group’s trusted and liquid marketplace to tap opportunities and risk-manage across asset classes, fueling multiple records.
Securities daily average value (SDAV) rose 59% year-on-year (y-o-y) to S$1.9 billion – the highest since March 2020 – lifting total securities market turnover value to S$40.6 billion. Derivatives traded volume increased 24% y-o-y to 29.9 million contracts on record foreign exchange (FX) futures activity, as derivatives daily average volume (DAV) gained 24% y-o-y to 1.5 million contracts.
Key highlights:
- Singapore cash market proves its resilience: Singapore was the most-traded ASEAN cash market in April, leading regional peers with 2025 year-to-date (YTD) SDAV growth of 22%. The Straits Times Index (STI) outperformed other ASEAN benchmarks YTD with a 1.2% price return and 2.9% total return. Retail investors were strong net buyers during the month, purchasing S$1.1 billion. Retail SDAV climbed more than 50% m-o-m to the highest since January 2021.
- Sustained ETF growth: Combined assets-under-management (AUM) of exchange-traded funds (ETF) rose to a record S$13.8 billion in April, with daily average turnover up 62% y-o-y at S$37.5 million, the highest since March 2020. During the month, SGX Securities welcomed the listing of Amova MSCI AC Asia ex Japan ex China Index ETF, the first ETF globally that offers investors a more targeted approach towards investing in Asia’s fast-growing economies.
- A50 futures stand out amid global selloff: SGX FTSE China A50 Index Futures traded volume increased 32% y-o-y in April to 9.4 million contracts, with 1.2 million lots (US$14 billion notional) changing hands on 7 April, the peak of the global selloff triggered by concerns over the impact of U.S. tariffs. Institutional investors also turned to SGX Equity Derivatives to manage their Asian portfolio risk during onshore holidays in China and Taiwan and to hedge their positions during U.S. hours. A record 85,270 lots (US$5.6 billion notional) of SGX FTSE Taiwan Index Futures were traded during the overnight session of 9 April.
- Record GIFT Nifty volumes as India recovers: GIFT Nifty 50 Futures showed strong trading momentum in times of heightened volatility, with record volume of 2.1 million contracts and DAV of 112,113 contracts (US$5.3 billion notional) in April as India outperformed its emerging market peers amid the tariff uncertainty.
- Record FX futures activity: SGX USD/CNH FX Futures traded volume gained 57% y-o-y in April to 4.4 million contracts as investors weighed U.S.-China trade tensions. SGX INR/USD FX Futures volume also grew as renewed foreign-investment flows into India bolstered the domestic economy. The two benchmark contracts led a 70% y-o-y surge in total SGX FX futures volume to 8.2 million contracts – a record high.
- Broad-based commodities growth: Commodity derivatives traded volume rose 11% y-o-y in April to 6.3 million contracts, with iron ore leading gains across several SGX Commodities products. The volume of SGX SICOM rubber derivatives – the global pricing bellwether for natural rubber – increased 49% y-o-y to a record 454,638 contracts, while petrochemicals volume more than doubled on the back of heightened risk management. Open interest in dairy derivatives climbed to a record 171,666 lots, spurred by increased options activity.
The full market statistics report can be found here.
