Singapore Exchange (SGX) - CGS-CIMB Research 2023-01-19: Supported By Risk Management Activity

Singapore Exchange (SGX) - Supported By Risk Management Activity

  • Although Singapore Exchange (SGX:S68)’s securities daily average value (SDAV) rose 10% y-o-y to S$935m in Dec 22, Jul to Dec 22 monthly average of S$1.1bn was 7% lower y-o-y, as market volatility hampered risk sentiment amid interest rate uncertainties. Nonetheless, these uncertainties continued to fuel risk management needs, pushing derivatives DAV 8% higher to 920k contracts in Dec 22, and Jul to Dec 22 monthly average 11% higher y-o-y to 1.03m contracts.
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Maintaining its market share stronghold in China A50 volumes

  • SGX’s equity index futures volumes held steady y-o-y in Jul to Dec 22 as overall strength in these hedging instruments offset the relative weakness in its FTSE China A50 index futures (-3% y-o-y). Notably, SGX still maintained its market share stronghold (>90% as at end-Dec 22) in terms of contracts and open interest over HKEX’s competing product, in part adding to its ability to raise fees on this contract in Jul to Dec 22.
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Stronger treasury income for SGX as interest rates rise

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Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @

Andrea CHOONG CGS-CIMB Research | 2023-01-19

Read also CGS-CIMB's most recent report:
2023-02-10 Singapore Exchange - Deriving Strength From Derivatives.

Price targets by 6 other brokers at SGX Target Prices.
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Relevant links:
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SGX Announcements,
SGX Dividends & Corporate Actions,
SGX News Articles

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