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SGX Stocks and Warrants

Author: kimeng   |   Latest post: Tue, 18 Sep 2018, 11:15 AM

 

SGX: Termination of Nifty Licensing

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Over the weekend, the National Stock Exchange of India (NSE), the Bombay Stock Exchange (BSE) and the Metropolitan Stock Exchange of India (MSEI) released a joint statement on the licensing of Indian indices and market data of securities listed and traded in India. The NSE’s Nifty licensing pact with SGX will end in six months.

The SGX Nifty 50 Index Futures accounted for about 11.5% of SGX’s derivatives volume in 2QFY18 and is the third largest in terms of volume, after the SGX FTSE China A50 Index Futures and the Japan Nikkei 225 Index Futures. We expect this news to result in a kneejerk reaction on SGX’s shares this morning and drag the price below Friday’s closing price of S$7.89.

Based on consensus, the 12-month target price is currently at S$8.48 (high of S$9.00 and low of S$7.70) versus our fair value of S$8.16, which is below market average. We expect some downgrades ahead following this news which will dampen the share price for the near term.

We are maintaining our HOLD on the stock.

Source: OCBC Research - 12 Feb 2018

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Labels: SGX

Related Stocks

Chart Stock Name Last Change Volume 
SGX 7.27 0.00 (0.00%) 1,371,900 

Market Buzz

Date Type Subject
18-Sep-2018 Announcement General Announcement::News Release: SGX welcomes Futu Securities as Derivatives Trading Member
14-Sep-2018 Announcement General Announcement::News Release: SGX named "Derivatives Exchange of the Year" by Asia Risk for fifth consecutive year
13-Sep-2018 Announcement Share Buy Back - Daily Share Buy-Back Notice::Share Buy Back - Daily Share Buy-Back Notice

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