SGX Group (Singapore Exchange) today reported stellar trading activity in December, capping a pivotal year that amplified the appeal and quality of the Singapore stock market. Derivatives volume rose to a record for 2025 on strong institutional demand for trusted risk-management tools.
Securities market turnover value climbed 29% year-on-year (y-o-y) in December to S$25.8 billion, with securities daily average value (SDAV) up 23% y-o-y at about S$1.2 billion. SDAV for 2025 gained 21% to almost S$1.5 billion, the highest since 2010. Derivatives traded volume across equities, foreign exchange (FX) and commodities increased 22% y-o-y to 28.3 million contracts, as daily average volume (DAV) grew 17% y-o-y to 1.3 million contracts. For 2025, derivatives volume expanded 10% to 329 million contracts.
Key highlights:
- Milestones for Singapore stock market: The bellwether Straits Times Index (STI) marked a fresh record of 4,655.38 on 30 December, underscoring momentum in a landmark year. For 2025, the STI delivered 22.7%, with reinvested dividends taking total returns to 28.8%, outpacing most ASEAN peers. Total returns for the iEdge Next 50 Indices were up 26.7% in 2025. Retail participation in cash equities grew to a four-year high, while institutions net-purchased S$415 million of small- and mid-cap stocks in 2025.
- Capital raising accelerates: UltraGreen.ai Limited, a global leader in the fluorescence-guided surgery space, joined SGX’s Mainboard on 3 December. On Catalist, Infinity Development Holdings Company Limited, a manufacturer of adhesive-related products for the footwear industry, also listed on 3 December, while Leong Guan Holdings Limited, a food manufacturing and distribution company, debuted on 11 December.
- Institutional support drive SiMSCI derivatives: Strong institutional appetite boosted trading activity in flagship SGX MSCI Singapore Index (SiMSCI) derivatives, fueled by positive sentiment on the Equities Market Review Group measures. Open interest (OI) in SiMSCI derivatives gained 7% month-on-month (m-o-m) to US$7.6 billion, while OI in Net Total Return Futures doubled m-o-m to a record US$361 million.
- Unrivalled gateway for China exposure: SGX Group’s China equity derivatives suite continued to shine as global investors sought trusted access. SGX FTSE China A50 Index Futures traded volume increased 7% y-o-y in December to 9.1 million contracts, lifting the tally for 2025 to 112 million contracts, an all-time high. OI expanded 16% in 2025 to US$17 billion, underscoring deep investor confidence in the contract – the world’s most liquid international futures for Chinese equities. SGX FTSE China H50 Index Futures traded volume rose to a record 1.7 million contracts for the year, highlighting the strengths of a single platform for both China A- and H-share risk management.
- Record FX futures activity: FX futures traded volume rose 43% y-o-y in December to 8 million contracts, the highest since April, as SGX INR/USD Futures volume jumped 90% y-o-y. For 2025, total FX futures volume climbed 34% y-o-y to 79.3 million contracts – an all-time high – as uncertainty driven by global trade tariffs left a lasting impact on portfolio hedging activity. SGX USD/CNH FX Futures volume gained 18% in 2025 to a record 41.5 million contracts, while SGX KRW/USD FX Futures DAV increased 66% to a notional US$338 million.
- Iron ore leads record commodities suite: Benchmark iron ore derivatives traded volume rose 51% y-o-y in December to 5.4 million contracts, bringing the tally for 2025 to 66.2 million lots – a seventh straight record year. Gains across the broader SGX Commodities suite included volume and OI records for both dairy and petrochemicals derivatives in December, while forward freight agreement (FFA) futures volume in 2025 climbed to a new high of 2.2 million lots on the back of robust demand for dry-bulk commodities.
The full market statistics report can be found here.
