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June 2008 activity levels in Australian Securities Exchange (ASX) cash markets increased on May 2008, although traded value was down on June 2007 despite overall traded volume increasing. Derivatives markets activity was lower compared to the previous corresponding period (pcp). Total FY08 activity levels in both cash and derivatives markets were up on FY07 with the exception of equity derivative volumes which were flat.
Throughout the month ASX systems – including trading, clearing and settlement, and company announcements – operated normally.
Cash markets (including equities, interest rates and warrants trades):- Total cash markets trades for June 2008 were a record 9.5 million, up 64% on the pcp. Average daily trades of 474,915 were also 64% up on pcp. Total cash market trades in FY08 were a record 91.3 million, 87% higher than FY07.
- Total cash market traded value was $133.9 billion in June 2008, down 7% on pcp, with a daily average value of $6.7 billion, also down 7% on pcp but up 13% on May 2008. Total cash market traded value in FY08 was a record $1,615.8 billion, 22% up on FY07.
- In June 2008 the average value per trade was $14,098, in line with the May 2008 value of $14,150 ($24,856 pcp), and the percentage of value crossed was 29% (32% pcp).
- Equity derivatives volume (excluding SPI 200) for June 2008 was 1.7 million contracts, down 29% on pcp, with a daily average of 86,650 contracts, also down 29% on pcp. FY08 volumes of 23.2 million are consistent with FY07.
- Total futures and options on futures contracts volume (excluding equity derivatives and CFDs) for June 2008 was 8.2 million, down 22% on the pcp, with a notional value of $3.1 trillion. Average daily contracts volume during June 2008 of 391,957 was also down 22% on the pcp. Total contracts traded in FY08 were a record 89.1 million, up 3% on FY07.
- A total of 7,469 ASX CFD trades were transacted in June 2008 comprising a volume of 5.9 million contracts. The total notional value of all CFD trades for June was $170.1 million, and the value of CFD open interest at the end of June was $67.4 million. A total of 50,772 ASX CFD trades were transacted since their commencement in November 2007, comprising a total volume of 56.4 million contracts.
- In June 2008 there were 14 entities admitted for listing, compared to 38 in the pcp. In FY08, 236 new entities listed, compared to 284 in FY07. Total listed entities at 30 June 2008 were 2,2261 up 7% on the 2,090 as at 30 June 2007.
- Total capital raised in June 2008 amounted to $5.2 billion, down 35% on the pcp. Capital raisings in FY08 comprise initial raisings of $11.2 billion, down 43% on FY07, and secondary raisings of $50.6 billion, down 13% on FY07.
- In June 2008, there were:
- 9,317 company announcements processed, consistent with pcp;
- 34 price queries issued to listed entities, down 36% on pcp; and
- 104 trading halts granted, up 3% on pcp.
- During the quarter ending 30 June 2008, the ASX Disciplinary Tribunal and Appeal Tribunal finalised seven matters, imposing $200,000 (plus GST) in fines and one censure against seven participants.
- During the quarter ending 30 June 2008, ASX referred the following to ASIC:
- 7 suspected contraventions for insider trading;
- 5 suspected contraventions of continuous disclosure; and
- 4 suspected contraventions for market manipulation.
Further details for FY08 will be presented as part of ASX’s Full-Year Results announcement on 14 August 2008.
A detailed activity statement for ASX group markets for June 2008 is attached.
