SGX’s securities daily average value expected to sustain growth through 2027

SDAV is expected to rise 9% in FY2026 and 4% in FY2027.

The Singapore Exchange’s (SGX) securities daily average value (SDAV) is expected to grow further through fiscal year 2027, according to a report by RHB.

SDAV is expected to rise 9% YoY in FY2026 and 4% in FY2027, said RHB analyst Shekhar Jaiswal. In FY2025, the SDAV rose 27% to S$1.3b.

“We expect the growth momentum to continue, supported by MAS-led initiatives to broaden equity participation beyond Straits Times Index (STI) constituents,” Jaiswal said in a report published on 10 July 2025.

For SGX, Jaiswal sees it benefiting from elevated near-term market volatility and improvement in securities turnover, supported by Monetary Authority of Singapore (MAS)-led equity market initiatives.

SGX’s is forecasted to log an operating revenue of S$616m, and a profit after tax and minority interests (PATMI) of S$308m.

“While the FY2026 yield remains unappealing despite an expected rise in payout ratio, we see upside risks to distributions,” Jaiswal said.