Singapore Exchange sets record in derivatives, exchange traded funds in 2008

Posted on: Tue, 06 Jan 2009 06:13:00 EST

Symbols: SPXCF

SINGAPORE, Jan 06, 2009 (Xinhua via COMTEX) --
SPXCF | Quote | Chart | News | PowerRating -- Singapore Exchange Limited (SGX)
announced Tuesday that its derivatives and Exchange Traded Funds (
ETF) markets set new trading records in 2008.

SGX's derivatives market set a record for volumes traded for
the third consecutive year since 2006, standing at almost 62
million contracts, up nearly 38 percent from 2007.

By September 2008, turnover in the total futures and options
market had already surpassed that for the whole of 2007. This was
followed by a record month in October, when 6,863,420 contracts
were traded.

In particular, trading in the CNX Nifty Index Futures grew more
than eight-fold to over 12 million contracts. The yen-denominated
Nikkei 225, MSCI Taiwan and MSCI Singapore futures contracts also
registered double-digit growth figures.

The SGX-listed ETFs also hit a record for the total value
traded in 2008, with total trading value of 2.94 billion Singapore
dollars (about 1.99 billion U.S. dollars), up 155 percent increase
over the previous record of 1.15 billion Singapore dollars (about
0.79 billion U.S. dollars) registered in 2007.

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

"Our trading records have been set as customers benefit from
using our market access products, including futures contracts and
ETFs. Investors can capitalize on our products to seize investment
opportunities and manage risks, even in challenging markets," said
Chew Sutat, SGX Executive Vice President.

SGX currently has 24 ETFs covering mainly Asian equity markets
such as Singapore, India, China, ASEAN, South Korea and Japan.

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