SiMSCI and STI
The Singapore MSCI Index, or SiMSCI for short, represents about 50% of the underlying Singapore stock market, this Singapore stock index has a high correlation of about 95% with the Singapore Straits Times Index (STI). The SiMSCI Index comprises of a basket of 36 Singapore stocks. See table below.
Singapore Exchange - SGX
The Singapore Exchange Derivative Trading, also known as SGX-DT, has two stock index futures based on the Singapore stock market. The SiMSCI Futures and the Strait Time Index Future.
SiMSCI Futures
The SiMSCI Futures is more popular with investors and traders. Fund managers use the SiMSCI as a benchmark and hedge their stocks equity against SiMSCI Futures.
| Constituents as of 15 May 2006 | |||||
| DBS Grp | UOB | OCBC Bk | SingTel | Jurong Tech | |
| SPH | Keppel | Acendasreit | ST Engg | Want Want | |
| Chartered | CapLand | ComfortDelGro | SGX | SembCorp | |
| SemLog | WingTai | Jardine C&C | UOL | SingPost | |
| OUE | Haw Par | SuntecReit | Creative | SingLand | |
| SIA | SMRT | STATS ChipPac | CityDev | CapitalMall | |
| F&N | Datacraft | Cosco Corp | Olam Intl | AllGreen | |
| NOL | Venture | Parkway Hldgs | KepLand | Noble Grp | |
So when you buy one SiMSCI futures contract , its value and price movements are linked to the price movements of the 36 underlying stocks.
The following gives you a summary of the SGX SiMSCI Futures contract specifications.
| Contract Specifications: | |
| Contract Size - SGX | S$200 x MSCI Singapore Free Index |
| Minimum Price Fluctuation | 0.1 point |
| Value of one tick | S$20 |
| Contract Months | 2 nearest serial months and 4 quarterly months on March, June, September, December |
