SGX Group Posts Robust Performance in February 2026: Highest Trading Volumes in Years

Singapore Exchange (SGX Group) has reported a stellar set of operating statistics for February 2026, marking a significant acceleration in both securities and derivatives trading activities. This performance includes several multi-year highs, broad-based participation, and notable sectoral trends that investors and shareholders should closely monitor.

Key Highlights for Investors

• Securities Daily Average Value (SDAV): Surged 45% year-on-year to S\$2.1 billion, the highest since 2020, with total market turnover up 30% y-o-y to S\$38.5 billion. This spike in activity signals robust liquidity and heightened trading interest.
• Derivatives Daily Average Volume (DAV): Jumped 22% y-o-y to 1.66 million contracts. February’s total derivatives volume reached 27.1 million contracts, up 6% y-o-y, despite a shorter trading month due to Lunar New Year holidays.

Detailed Segment Breakdown

Equities and ETFs

• Broad-based Stock Turnover: SDAV for Straits Times Index (STI) constituents climbed 37% y-o-y to S\$1.63 billion. Small- and mid-cap SDAV soared an impressive 135% y-o-y, reflecting strong institutional demand.
• Retail Activity: Retail SDAV rose 45% y-o-y, reaching a 13-year high. This indicates increased direct investor engagement, a positive signal for market breadth.
• Market Performance: The STI advanced 2% month-on-month in February and is up 8% year-to-date, crossing the psychological 5,000-point threshold and notching a new all-time high of 5,041 on 23 February. The rally was driven by strength in real estate and industrial sectors.
• ETF Trading: Monthly ETF turnover surged 172% y-o-y to S\$1.1 billion, on the back of S\$643 million of net inflows – the highest since December 2024. Investments via Supplementary Retirement Scheme (SRS) holders exceeded S\$1 billion for the first time, highlighting growing ETF adoption for long-term investing.

Derivatives and Index Futures

• SGX MSCI Singapore Index Futures: Saw a 25% month-on-month DAV increase, with monthly volume hitting 1.0 million contracts and a record notional traded value of S\$49 billion. This was driven by institutional flows and active position-taking around earnings releases of index heavyweights.
• FTSE Taiwan Suite: Trading in SGX FTSE Taiwan Index Futures and Micro contracts saw combined notional value soar 170% y-o-y to US\$13.3 billion, powered by AI-fueled tech momentum. Activity peaked on 23 February with a record 304,000 lots traded in the full-sized contract, reflecting robust international participation during Taiwan’s market closure for Lunar New Year (12-20 February), when SGX captured 98% of international liquidity.

Foreign Exchange (FX) Futures

• SGX USD/CNH FX Futures: Recorded a new DAV high of US\$24 billion and month-end open interest of US\$27.1 billion, reflecting continued risk management demand during Asian holidays.
• SGX INR/USD FX Futures: Achieved a single-day volume peak of US\$7 billion, driven by policy and trade-related events.
• SGX KRW/USD Mini Futures: Set a new DAV record of US\$713 million, up 43% m-o-m, amid active hedging linked to Korean equities.
• SGX TWD/USD FX Futures: DAV rose 35% m-o-m to US\$378 million, with open interest up 28% to US\$26 million, reflecting growing investor interest in regional technology and semiconductor themes.

Commodities

• Overall Commodities Volume: Gained 5% y-o-y to 5.28 million contracts. Iron ore derivatives led the surge, up 7% y-o-y to 4.69 million contracts.
• Petrochemicals Suite: Cleared 3 million metric tonnes, up 6% y-o-y, with open interest hitting a new high of 5.7 million metric tonnes.
• Whole Milk Powder Options: Recorded single-day open interest of 44,185 lots on 27 February, highlighting increased hedging amid volatile dairy prices.

What Shareholders Need to Know

• Multi-Year Highs: Several key trading metrics have reached their highest levels in years, indicating strong operational momentum which could be a leading indicator for future earnings growth and share price appreciation.
• Increased Institutional and Retail Participation: The surge in both institutional and retail turnover suggests broad-based market engagement. Retail turnover at a 13-year high points to renewed investor confidence and liquidity.
• Record ETF Inflows: With SRS investments in ETFs surpassing S\$1 billion for the first time, SGX is benefiting from structural shifts toward passive, long-term investing.
• Derivatives and FX Leadership: SGX continues to solidify its position as a leading hub for Asian equity and FX risk management, capturing nearly all international Taiwan equity liquidity during the holiday period.
• Potential Price Sensitivity: Shareholders should note that these record figures and new market highs may attract further market attention, potentially lifting SGX’s share price, especially if sustained momentum translates into higher clearing and settlement revenues in upcoming quarters.

Conclusion

The February 2026 operating data from SGX Group is highly positive, reflecting broad-based strength across asset classes, robust international participation, and a surge in both institutional and retail activity. These developments are likely to be closely watched by investors and may have a material impact on SGX’s share price, particularly if strong trading volumes continue into subsequent months.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are encouraged to conduct their own research or consult a professional advisor before making investment decisions. Past performance is not indicative of future results.

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