SGX's 16.9% derivatives volume surge was a one-off event: analyst

Expect a more gradual improvement.

According to Phillip Securities, SGX will be announcing its 2Q13 results on 22 Jan 2013. Based on monthly statistics recently released by SGX, 2Q13’s SDAV decreased 9.0% q-q to S$1.214 billion, due to the few large transactions in 1Q13. DDAV surged in 2Q13, increasing 16.9% q-q to 0.359 million contracts.

Here's more from Phillip Securities:

We expect Securities Revenue to decrease q-q due to the lower SDAV. Derivatives revenue is however expected to increase due largely to the 75% q-q increase in FTSE China A50 Index Futures volume to 3.97 million contracts, and smaller but significant q-q increase in Nikkei 225 Index Futures and Options to 6.96 and 1.63 million contracts respectively.

Looking ahead, we expect SDAV to increase from the low base, due to a possible increase in attractive IPOs in 2013, and potential further market stimulus encouraging trading activities.

With a wide range of attractive offerings, we expect the volume of Derivative contracts to continue increasing. However, the q-q increase of 16.9% in Derivatives volume may not be repeated. A more gradual increase is expected.



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  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2569-0.0012-0.10%
    USDSGD=X
    1.7387-0.0014-0.08%
    EURSGD=X
    2.1124-0.0014-0.07%
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    SGDJPY=X
    6.1690+0.0063+0.10%
    SGDHKD=X
    2.6019+0.0036+0.14%
    SGDMYR=X
    9,207.2080-48.8184-0.53%
    SGDIDR=X
    4.9779+0.011+0.22%
    SGDCNY=X
    1.1658+0.0006+0.05%
    AUDSGD=X
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    NamePriceChange% Chg
    1,291.80+1.20+0.09%
    GCM14.CMX
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    SIK14.CMX
    91.62-1.25-1.35%
    ^XAU
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    HGK14.CMX
    101.98+0.04+0.04%
    CLM14.NYM
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    Bonds
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    JS8.SI
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    U6C.SI
    0.122-0.001-0.81%
    B22.SI
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    G13.SI
    0.605-0.010-1.63%
    E5H.SI
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    O9A.SI
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    5HH.SI
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    D6U.SI
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    I9T.SI
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    DM0.SI
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