The Singapore Exchange (SGX) has announced that whilst derivatives trading grew in October from a year earlier, equities trading declined.
The daily average value of securities traded declined 6% to $1.1 billion. SGX did not offer an explanation for the fall in volume.
However, record-high open interest was achieved in Singapore’s derivatives market during the same month.
Aggregate derivatives volumes rose 20% year-on-year to 8.5 million contracts. China A50 futures volumes increased by 65% to 1.7 million contracts and MSCI Indonesia futures volumes tripled to 29,717 contracts. The value of OTC interest rate swaps cleared fell 51% to S$4.3 billion.
SGX also said that it has chosen London Stock Exchange Group’s (LSEG) MillenniumIT to provide a new post-trade system for its securities market, which is expected to begin operating from the end of 2015.
The new system will enable multi-currency and multi-asset expansion of clearing, settlement and depository services. SGX says it will shorten the time-to-market for new securities products and support members with more flexibility across their post-trade requirements.