| |
| |
 |
| |
|
| |
|
| |
|
SINGAPORE : The Singapore Exchange (SGX) said the average daily trading turnover for securities listed on the bourse reached its highest level in 17 months in October.
Shares of SGX, which is facing political opposition in Australia to its proposed S$10.7 billion takeover of the Australian Stock Exchange (ASX), rose 0.56 per cent to S$8.9.
SGX shares have fallen more than 9 per cent since news of the takeover first surfaced.
SGX released its October market statistics after trading ended on Tuesday.
At $2.1 billion, the average value of securities changing hands on the exchange in a day was the highest since May 2009 and compared with $1.8 billion in September.
The daily trading turnover in exchange-traded funds was $953 million, double the September average.
Analysts said that SGX CEO Magnus Bocker's efforts to position the exchange as a gateway to Asia are showing results.
The SGX, which allows global investors to take a bet on China's A-share market through a unique offshore futures contract, saw more than 143,000 contracts of FTSE Xinhua China A50 Index Futures changing hands in October. This was a new trading record for the index.
Meanwhile, options volumes on Japan's Nikkei 225 index jumped six-fold in October from the previous month.
In a separate news release, SGX said it's at the forefront of clearing over-the-counter (OTC) trades, which are private arrangements between buyers and sellers. For instance, it has a 90 per cent market share globally in clearing iron-ore swap agreements.
Futures contracts bind a buyer and a seller to execute a trade in future at a price that's agreed today. An option buyer has the right -- but not an obligation -- to make an option seller honour a future commitment at a pre-agreed price. Swaps are bilateral agreements in which two parties change one security for another.
SGX cleared almost twice as many energy swaps in October as in the previous month.
SGX said that Asia Clear, which is the exchange's clearing platform for OTC derivatives, has won an award from Energy Risk magazine.
The bourse has also been named "Exchange of the Year" for its derivatives and clearing businesses by trade magazine Asia Risk.
SGX said the awards are in recognition of its innovative products. These include the world's first Nikkei Dividend Index Futures, which began trading on SGX in June.
SGX also plans to start clearing OTC trades in financial derivatives such as interest-rate swaps and currency forwards. - CNA /ls
|
