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ASX Limited (ASX) announces its monthly activity information for cash and derivatives markets for January 2008.
January 2008 was a month of very high trading activity, particularly in the cash equities, equity derivatives and interest rate markets. The volumes were driven by the market volatility continuing to flow from sub-prime credit concerns and sentiment about the divergent direction of interest rate trends in Australia and the US.
Throughout the month ASX systems – including trading, clearing and settlement, and company announcements – operated normally, notwithstanding large peaks in activity levels. ASX continues to invest in its systems to meet the capacity needs of the market.
A number of activity records were set during the month in both the cash and derivatives markets.
Cash markets (including equities, interest rates and warrants trades):- Total cash markets trades for January 2008 were 8.2 million, up 115% on the previous corresponding period (pcp). Average daily trades of 390,902 were also 115% up on pcp.
- Total cash market traded value was $132.6 billion in January 2008, up 30% on pcp, with a daily average value of $6.3 billion, also up 30% on pcp.
- The largest trading day by volume in cash market history was recorded on 22 January 2008 when 665,623 trades, valued at $10.0 billion, were executed. This was up 16% by volume on the previous daily record set on 16 August 2007.
- A daily record for trading volume and value was set in the interest rate market on 22 January 2008 when 1,257 trades, valued at $39.4 million, were executed. This was up 5% by volume on the previous daily record set on 1 August 2007.
- Equity derivatives volume (excluding SPI 200) for January 2008 was 1.9 million contracts, up 10% on pcp, with a daily average of 90,478 contracts, also up 10% on pcp.
- Total futures and options on futures contracts volume (excluding equity derivatives and CFDs) for January 2008 was 7.1 million, up 29% on the pcp, with a notional value of $3.6 trillion. Average daily contracts during January 2008 of 323,944 were also up 29% on pcp.
- A non-roll month daily record for the SPI 200 futures contract of 66,494 contracts was achieved on 22 January 2008, representing a notional value of $8.7 billion.
- A total of 7,153 ASX CFD trades were transacted in January 2008 comprising a volume of 8.9 million contracts. The total notional value of all CFD trades for January was $249.1 million, and the value of CFD open interest at the end of January was $141.8 million.
- In January 2008, 16 new entities1 were listed, consistent with the pcp, bringing total listed entities to 2,215, up 10% on the 2,017 for the pcp.
- Total capital raised in January 2008 amounted to $1.8 billion, down 3% on the pcp but up 11% on a financial year-to-date basis. Capital raisings year-to-date comprise initial raisings of $10.5 billion, up 2% on pcp, and secondary raisings of $33.5 billion, up 15% on pcp.
A detailed activity statement for ASX group markets for January 2008 is attached. ASX will release its results for the half-year to 31 December 2007 on 14 February 2008.
