SINGAPORE : The Singapore Exchange (SGX) saw record performances from two of its key businesses in 2008.

The total value of Exchange Traded Funds (ETFs) hit a record high of S$2.94 billion last year, up 155 per cent over the previous record of S$1.15 billion set in 2007.

SGX said the increase in value is significant, given that market values have generally fallen in 2008. The increase was due to growing customer awareness of the benefits of ETFs.

The SGX currently has 24 ETFs covering mainly Asian equity markets and commodities.

The Exchange also reported a new record for its derivatives business. 62 million derivatives contracts were traded last year, up 38 per cent from the previous record in 2007.

Trading in the CNX Nifty Index Futures grew more than eight-fold to more than 12 million contracts.

Nikkei 225, MSCI Taiwan and MSCI Singapore futures contracts also registered double-digit growth figures.

A record number of derivatives trades were seen in October, with more than 6.8 million contracts changing hands. - CNA/ms