SGX Group Reports Market Statistics For March 2024

3 months ago 97
  • Record commodity, FX derivatives activity in March caps strong first quarter
  • Retail net buying increases across all stock segments

Singapore Exchange (SGX Group) today released its market statistics for March 2024. Record trading activity in commodity and foreign exchange (FX) derivatives during the month drove volumes for the quarter, while retail net buying increased across all stock segments.

Derivatives traded volume rose 10% month-on-month (m-o-m) in March to 24 million contracts. For the January-to-March quarter, volume climbed to 70.4 million contracts, 12% higher over the same period last year. Daily average volume (DAV) for the quarter gained 14% year-on-year (y-o-y) to 1.2 million contracts. The average fee per contract for equity, currency and commodity derivatives for January-to-March was S$1.54.

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On SGX Equity Derivatives, the SGX FTSE China A50 Index Futures contract remained the world’s most liquid international futures for Chinese equities, enabling market participants to manage risk amid a focus on the growth outlook for Asia’s leading economy. Traded volume totalled 24.2 million contracts in January-to-March, up 7% y-o-y.

SGX FTSE Taiwan Index Futures volume rose 47% m-o-m in March to 1.8 million contracts, the highest since January 2021. This brought total volume for the January-to-March quarter to 4.7 million contracts, up 7% y-o-y. Fuelled by global demand for AI technology, Taiwan’s semiconductor-centric equities market is gaining significant traction among institutional investors.

GIFT Nifty 50 Futures DAV climbed to 96,978 contracts in March – the highest since the NSE IX-SGX GIFT Connect started full-scale operations in July 2023 – as global funds continued to be drawn to India. SGX MSCI Singapore Index Futures volume climbed 1% y-o-y during the quarter.

Record participation in benchmark rubber futures

On SGX Commodities, total derivatives traded volume rose 32% m-o-m in March to a record-high 6.4 million contracts. This brought total volume for the January-to-March quarter to 16.5 million contracts, up 56% y-o-y.

Growth was observed across a broad range of products, with DAV for SGX SICOM Rubber Futures – the global pricing bellwether for natural rubber – jumping to a record for both March and the first quarter, including a new single-day volume high of 43,538 lots on 18 March. Growing finan...

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