July 2008 activity and value levels across many Australian Securities Exchange (ASX) markets were lower than the previous corresponding period, July 2007 (pcp), despite cash market trades setting a new monthly volume record. Throughout the month ASX systems – including trading, clearing and settlement, and company announcements – operated normally.
Cash markets (including equities, interest rates and warrants trades):
• Total cash markets trades for July 2008 were a record 10.2 million, up 67% on the pcp. Average daily trades of 444,987 were 59% up on pcp.
• Total cash market traded value was $126.8 billion in July 2008, down 11% on pcp, with a daily average value of $5.5 billion, down 15% on pcp.
• In July 2008 the average value per trade was $12,388, down on the pcp ($23,132 pcp), and the percentage of value crossed was 25% (30% pcp).
Derivatives markets:
• Equity derivatives volume (excluding SPI 200) for July 2008 was 1.7 million contracts, down 29% on pcp, with a daily average of 72,700 contracts, down 32% on pcp.
• Total futures and options on futures contracts volume (excluding equity derivatives and CFDs) for July 2008 was 5.7 million, down 17% on the pcp, with a notional value of $2.7 trillion. Average daily contracts volume during July 2008 of 247,727 was down 20% on the pcp.
• A total of 8,617 ASX CFD trades were transacted in July 2008 comprising a volume of 6.9 million contracts. The total notional value of all CFD trades for July was $179.3 million, and the value of CFD open interest at the end of July was $79.3 million.
Listings and capital raisings:
• In July 2008 there were 13 entities admitted for listing, compared to 35 in the pcp. Total listed entities at 31 July 2008 were 2,2361 up 6% on the 2,113 as at 31 July 2007.
• Total capital raised in July 2008 amounted to $6.1 billion, down 59% on the pcp, comprising $1.1 billion in initial raisings, down 67% on pcp, and $5.0 billion in secondary raisings, down 57% on pcp.
Supervisory monitoring and enforcement activity:
• In July 2008, there were:
o 10,873 company announcements processed, consistent with pcp;
o 22 price queries issued to listed entities, down 58% on pcp; and
o 72 trading halts granted, down 31% on pcp.
A detailed activity statement for ASX group markets for July 2008 is attached. ASX's results for FY08 will be announced on 14 August 2008. -- www.asx.com.au
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