01 December 2017
Listed Products Daily Turnover in November Averaged S$97 Million
  • In the month of November, SGX listed Structured Warrants, Daily Leverage Certificates (DLCs) and Exchange Traded Funds (ETFs) generated a combined daily average turnover of S$97 million with Structured Warrants contributing S$74 million (+163% Y-o-Y) of the total.
  • DLCs generate a total turnover of S$282 million in November and a total turnover of S$1.55 Billion since its launch. Turnover on the HSI DLCs showed the strongest growth in turnover with a 261% increase m-om while the HSCEI DLCS increased 110% m-o-m.
  • ETFs traded S$10.4 million on average a day in the month of November, up 35% m-o-m. The top 5 traded ETFs include iShares MSCI India, SPDR® STI ETF, DBXT MSCI AC Asia ex Japan ETF, SPDR® Gold Shares and the newly-listed Lion-Phillip S-REIT ETF.

Listed Products Daily Turnover In November Averaged S$97 Million

SGX listed Structured Warrants, DLCs and ETFs generated a combined daily average turnover of S$97 million with Structured Warrants contributing S$74 million (+163% Y-o-Y) of the total.

Source: SGX

 

Structured warrants generated a total turnover of S$1,624 million in November with majority of the turnover in the warrants with Hang Seng Index underlying. The five most active index warrants on the Hang Seng Index in November and recent warrant listings are tabled below.

Top 5 Most Active Index Warrants in November

Name

Stock Code

Call/ Put

Expiry Date

Strike Level

Nov Traded Value (S$)

HSI 28400 MB EPW180130

CNAW

P

30-Jan-18

28,400

203,534,863

HSI 29200 MB ECW171228

CLDW

C

28-Dec-17

29,200

204,228,223

HSI 29000 MB ECW171129

CLTW

C

29-Nov-17

29,000

198,977,323

HSI 28800 MB EPW171228

CNDW

P

28-Dec-17

28,800

171,014,011

HSI 30000 MB ECW171228

CNHW

C

28-Dec-17

30,000

165,721,121

Source: SGX (data as of 30 November 2017)

Newly Listed Structured Warrants 

Name

Stock Code

Call/ Put

Expiry Date

Strike Level

Listing Date

HSI30000MBePW180130

CNOW

P

30-Jan-18

30,000

29-Nov-17

HSI29600MBePW180227

CNQW

P

27-Feb-18

29,600

29-Nov-17

HSI30800MBeCW180227

CNRW

C

27-Feb-18

30,800

29-Nov-17

HSI28400MBePW180130A

CNPW

P

30-Jan-18

28,400

29-Nov-17

HSI29200MBePW180130

CNIW

P

30-Jan-18

29,200

28-Nov-17

DBS MB ePW180416

CNJW

P

16-Apr-18

24.20

28-Nov-17

DBS MB eCW180416

CNKW

C

16-Apr-18

27.00

28-Nov-17

OCBC Bk MB ePW180702

CNLW

P

2-Jul-18

12.50

28-Nov-17

OCBC Bk MB eCW180702

CNMW

C

2-Jul-18

13.30

28-Nov-17

Source: SGX  (data as of 30 November 2017)

Click here to see more recent listings

 

DLCs Generated a Total Turnover of S$282 million in November

The DLCs have generated a total turnover of S$282 million in November and a total of S$1.55 Billion since its launch.

The DLCs are designed to be traded on a short term basis where investors can use them to capture intraday trends in the market or trends over a few days. See an extract from the daily newsletter by SocGen below showcasing the product returns on one of the more active days this month, 21 November. The largest intraday DLC move was in the HSCEI that day with more than 14.5% gain or loss.

Investors should note that the 5 times leveraged performance in the DLC is calculated on a close-to-close basis and performance of the DLC will vary from 5 times when held for more than one day due to the compounding effect. To read more about the features of the DLC, download the brochure here.

 

There are currently 10  DLCs available for trading on SGX and the details are highlighted in the table below.

 

Counter Name*

Underlying**

Stock Code

Type

Leverage

DLC SG5xLongMSG200714

MSCI Singapore Index

CIOW

Long

5x

DLC SG5xShortMSG200714

MSCI Singapore Index

CIXW

Short

5x

DLC SG3xLongHSI200714

Hang Seng Index

CIWW

Long

3x

DLC SG3xShortHSI200714

Hang Seng Index

CIVW

Short

3x

DLC SG5xLongHSI200714

Hang Seng Index

CIUW

Long

5x

DLC SG5xShortHSI200714

Hang Seng Index

CITW

Short

5x

DLC SG3xLongHSC200714

Hang Seng China Enterprises Index

CISW

Long

3x

DLC SG3xShortHSC200714

Hang Seng China Enterprises Index

CIRW

Short

3x

DLC SG5xLongHSC200714

Hang Seng China Enterprises Index

CIQW

Long

5x

DLC SG5xShortHSC200714

Hang Seng China Enterprises Index

CIPW

Short

5x

*[DLC] [Issuer][Leverage factor][Long or Short][Underlying Index] [Expiry Date in YYMMDD]

**DLCs track the total return index of the respective underlying indices

 

ETF daily average traded value at S$10.4million in November

ETFs traded S$10.4 million on average a day in the month of November, up 35% from the month before.

The top 5 traded ETFs include iShares MSCI India, SPDR® STI ETF, DBXT MSCI AC Asia ex Japan ETF, SPDR® Gold Shares and the newly-listed Lion-Phillip S-REIT ETF.

The iShares MSCI India has produced an YTD return of 30.45%. Shares of Britannia (BSE), Vakrangee (BSE) and Petronet LNG (BSE) were trading higher after these stocks were included in the MSCI India index with effect from December 1, 2017.

The SPDR® STI ETF has produced an YTD return of 22.51%. SGX lists 2 ETFs that tracks the Straits Times Index - SPDR® STI ETF and NikkoAM STI ETF. The Lion-Phillip S-REIT ETF started trading on SGX on 30th October 2017. As of 30th November 2017, the ETF produced a return of 2.7%, as the ETF closed at $1.027, up from the initial launch price of S$1.00.

No

Name

Turnover for Nov 2017  (S$)

1

ISHARES MSCI INDIA INDEX ETF*

57,767,292

2

SPDR® STRAITS TIMES ETF

28,661,805

3

DBXT MSCI AC ASIA EX JAPAN INDEX UCITS ETF

23,810,815

4

SPDR® GOLD SHARES

20,854,031

5

LION-PHILLIP S-REIT ETF

13,473,726

6

ISHARES BARCLAYS CAPITAL USD ASIA HIGH YIELD BOND INDEX ETF*

7,006,202

7

NIKKO AM SINGAPORE STI ETF

6,184,691

8

ISHARES J.P. MORGAN USD ASIA CREDIT BOND INDEX ETF*

6,124,327

9

DBXT CNX NIFTY UCITS ETF (INDIA)

6,036,135

10

DBXT MSCI INDONESIA INDEX UCITS ETF

5,084,357

* Dual currency traded ETF. Turnover and no. of trades is the total of the USD and SGD counters.

 

 

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Specified Investment Products

Structured warrants and Daily Leverage Certificates are examples of Specified Investment Products (SIPs). The MAS has introduced measures for intermediaries to safeguard the interests of individual investors investing in SIPs, which are products with features that might be more complex in nature. Investors now have the opportunity to assess their qualifications to trade SIP or enhance their product knowledge through the SGX online portal available here. Speak to your broker to find out how you can qualify to trade SIPs.

 

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Education and Resources

 

Trading Warrants on SGX

Trading DLCs on SGX

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§  More educational videos  (link)

§  SGX Structured Warrant investor guide (link)

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§  SGX DLC investor guide (link)

§  SGX DLC factsheet (link)

§  SGX DLC Infographic (link)

 


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