Minimum Volume Thresholds for Negotiated Large Trades
Summary
SGX RegCo published Appendix A to Regulatory Notice 4.1.11 establishing minimum volume thresholds in lots for contracts eligible under the Negotiated Large Trade System (NLTS). The thresholds apply to various futures and options contracts including equity indices, currencies, commodities, freight rates, and cryptocurrency perpetuals. The table specifies lot minimums ranging from 2 to 50 depending on contract type. These thresholds determine eligibility for block trade execution. The updated thresholds become effective 30 April 2026.
What changed
SGX RegCo published Appendix A to Regulatory Notice 4.1.11 establishing minimum volume thresholds for the Negotiated Large Trade System. The table covers over 60 contract types spanning index futures and options (MSCI Singapore, Nikkei 225, FTSE China A50, NSE IFSC Nifty variants), bond futures (10-Year JGB), currency futures (AUD/JPY, AUD/USD, BRL/USD, CNY/SGD, CNY/USD, EUR/CNH), commodity futures (cobalt, lithium, ammonia), Baltic shipping freight futures, LNG freight futures, cryptocurrency perpetual futures (Bitcoin, Ethereum), and ESG index futures. Thresholds range from 2 lots (freight, cobalt, lithium, ammonia contracts) to 50 lots (MSCI Singapore, FTSE Asia ex Japan, NSE IFSC Nifty futures).
Affected parties include SGX trading members and participants executing negotiated large trades. Compliance officers at member firms must ensure block trade orders meet the minimum lot thresholds before submission. The thresholds apply from 30 April 2026 for all contracts listed.
Archived snapshot
Apr 16, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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Futures Trading Rules Regulatory Notices Regulatory Notice 2.1.3A(4); 4.1.11 — Negotiated Large Trades Future version: Effective from 30 Apr 2026
Appendix A To Regulatory Notice 4.1.11
MINIMUM VOLUME THRESHOLDS FOR NLTS
| Contract | Minimum Volume Threshold (Lots) |
| Mini Nikkei 225 Index Futures | 5 |
| MSCI Singapore Index Futures | 50 |
| MSCI Singapore Index Options | 25 |
| Nikkei 225 Index Futures | 5 |
| Nikkei 225 Index Options | 5 |
| Nikkei Stock Average Dividend Point Index Futures | 25 |
| NSE IFSC Nifty 50 Index Futures | 50 |
| NSE IFSC Nifty Bank Index Futures | 50 |
| NSE IFSC Nifty IT Index Futures | 50 |
| NSE IFSC Nifty Financial Services Index Futures | 50 |
| NSE IFSC Nifty 50 Index Options | 25 |
| NSE IFSC Nifty Bank Index Options | 25 |
| NSE IFSC Nifty IT Index Options | 25 |
| NSE IFSC Nifty Financial Services Index Options | 25 |
| SGX 10-Year Japanese Government Bond Futures | 5 |
| SGX AUD/JPY Futures | 50 |
| SGX AUD/USD Futures | 50 |
| SGX Argus Ammonia FOB Middle East Futures | 2 |
| SGX Argus Ammonia CFR East Asia Futures | 2 |
| SGX Baltic Panamax 82 Route P2E Futures | 2 |
| SGX Baltic Capesize Time Charter Average (5 routes) 180 Futures | 2 |
| SGX Options on Baltic Capesize Time Charter Average (5 routes) 180 Futures | 2 |
| SGX Baltic Capesize Time Charter Average (5 Routes) 182 Futures | 2 |
| SGX Options on Baltic Capesize Time Charter Average (5 Routes) 182 Futures | 2 |
| SGX Options on Baltic Capesize Voyage C5 Route Futures | 2 |
| SGX Baltic Capesize Voyage C3 Route Futures | 2 |
| SGX Baltic Capesize Voyage C5 Route Futures Contract | 2 |
| SGX Baltic Capesize Voyage C7 Route Futures | 2 |
| SGX Baltic Container Freight Route FBX01 Futures | 2 |
| SGX Baltic Container Freight Route FBX03 Futures | 2 |
| SGX Baltic Container Freight Route FBX11 Futures | 2 |
| SGX Baltic Container Freight Route FBX13 Futures | 2 |
| SGX Baltic Handysize Time Charter Average (7 Routes) Futures | 2 |
| SGX Baltic LNG Freight Route BLNG1 (LNG Fuel) 174 Futures | 2 |
| SGX Baltic LNG Freight Route BLNG2 (LNG Fuel) 174 Futures | 2 |
| SGX Baltic LNG Freight Route BLNG3 (LNG Fuel) 174 Futures | 2 |
| SGX Baltic Panamax Time Charter Average (5 Routes) Futures | 2 |
| SGX Options on Baltic Panamax Time Charter Average (5 Routes) Futures Contract | 2 |
| SGX Baltic Supramax Time Charter Average (10 routes) Futures | 2 |
| SGX Baltic Supramax Time Charter Average (11 Routes) Futures | 2 |
| SGX Options on Baltic Supramax Time Charter Average (10 routes) Futures Contract | 2 |
| SGX Options on Baltic Supramax Time Charter Average (11 Routes) Futures Contract | 2 |
| SGX Bitcoin Perpetual Futures | 5 |
| SGX BRL/USD Futures | 10 |
| SGX CNY/SGD Futures | 20 |
| SGX CNY/USD Futures | 20 |
| SGX Ethereum Perpetual Futures | 5 |
| SGX EUR/CNH Futures | 20 |
| SGX FM Cobalt Metal In-whs Rotterdam (Standard Grade) Futures | 2 |
| SGX FM Cobalt Hydroxide CIF China Futures | 2 |
| SGX FM Lithium Carbonate CIF CJK (Battery Grade) Futures | 2 |
| SGX FM Lithium Hydroxide CIF CJK (Battery Grade) Futures | 2 |
| SGX FTSE Asia ex Japan ESG Index Futures | 10 |
| SGX FTSE Asia ex Japan Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Asia ex Japan Index Futures | 50 |
| SGX FTSE Australia Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Blossom Japan Index Futures | 2 |
| SGX FTSE China A50 Index Futures | 50 |
| SGX FTSE China H50 Index Options | 20 |
| SGX FTSE China H50 Index Futures | 20 |
| SGX FTSE Emerging Asia ESG Index Futures | 10 |
| SGX FTSE Emerging ESG Index Futures | 10 |
| SGX FTSE Emerging Market Asia Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Emerging Market Asia Index Futures | 50 |
| SGX FTSE Emerging Market inc Korea Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Emerging Market Index Futures | 50 |
| SGX FTSE Emerging Market Net Total Return (USD) Index Futures | 5 |
| SGX FTSE EPRA Nareit Asia ex Japan Index Futures | 10 |
| SGX FTSE Indonesia Index Futures | 2 |
| SGX FTSE Indonesia Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Japan Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Malaysia Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Malaysia Index Futures | 50 |
| SGX FTSE New Zealand Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Philippines Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Philippines Index Futures | 50 |
| SGX FTSE Saudi Arabia Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Taiwan Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Taiwan Index Futures | 5 (effective until January 2021)
50 (effective from February 2021) |
| SGX Options on SGX FTSE Taiwan Index Futures | 50 |
| SGX Micro FTSE Taiwan Index Futures | 50 |
| SGX FTSE Thailand Net Total Return (USD) Index Futures | 5 |
| SGX FTSE Thailand Index Futures | 50 |
| SGX FTSE 3-Year India Government Bond Futures | 4 |
| SGX FTSE 5-Year India Government Bond Futures | 4 |
| SGX FTSE 10-Year India Government Bond Futures | 4 |
| SGX FTSE 3-Year Indonesia Government Bond Futures | 4 |
| SGX FTSE 5-Year Indonesia Government Bond Futures | 4 |
| SGX FTSE 10-Year Indonesia Government Bond Futures | 4 |
| SGX FTSE 3-Year Malaysia Government Bond Futures | 4 |
| SGX FTSE 5-Year Malaysia Government Bond Futures | 4 |
| SGX FTSE 10-Year Malaysia Government Bond Futures | 4 |
| SGX FTSE 3-Year Philippines Government Bond Futures | 4 |
| SGX FTSE 5-Year Philippines Government Bond Futures | 4 |
| SGX FTSE 10-Year Philippines Government Bond Futures | 4 |
| SGX FTSE 3-Year Thailand Government Bond Futures | 4 |
| SGX FTSE 5-Year Thailand Government Bond Futures | 4 |
| SGX FTSE 10-Year Thailand Government Bond Futures | 4 |
| SGX FTSE Vietnam 30 Index Futures | 2 |
| SGX FTSE Vietnam Net Total Return (USD) Index Futures | 5 |
| SGX HKD/CNH Futures | 40 |
| SGX HKD/USD Futures | 40 |
| SGX Options on HKD/USD Futures | 40 |
| SGX iEdge S-REIT Leaders Index Futures | 10 |
| SGX ICIS Isomer MX FOB Korea Futures | 2 |
| SGX ICIS MEG CFR China Futures | 2 |
| SGX ICIS Methanol CFR China (Specific Origins) Futures | 2 |
| SGX ICIS Methanol CFR Southeast Asia Futures | 2 |
| SGX ICIS SM CFR China Futures | 2 |
| SGX IHS McCloskey Indonesian 4200kc GAR FOB Thermal Coal Futures | 100 |
| SGX IDR/USD Futures | 10 |
| SGX India Single Stock Futures | 10 |
| SGX INR/USD Futures | 30 |
| SGX Option on INR/USD Futures | 30 |
| SGX IODEX Iron Ore Futures | 5 |
| SGX Options on IODEX Iron Ore Futures Option Contract | 5 |
| SGX KRW/JPY Futures | 50 |
| SGX KRW/USD (Full-Sized) Futures | 10 |
| SGX KRW/USD (Mini) Futures | 30 |
| SGX MB Iron Ore CFR China (58% FE Fines) Index Futures | 5 |
| SGX MB Iron Ore CFR China (65% Fe Fines) Index Futures | 5 |
| SGX Mini 10-Year Japanese Government Bond Futures | 5 |
| SGX Mini 20-Year Japanese Government Bond Futures | 5 |
| SGX MSCI AC Asia ex Japan Climate Action NTR (USD) Index Futures | 5 |
| SGX MSCI Emerging Market Climate Action NTR (USD) Index Futures | 5 |
| SGX MSCI Europe Climate Action NTR (USD) Index Futures | 5 |
| SGX MSCI Japan Climate Action NTR (USD) Index Futures | 5 |
| SGX MSCI Singapore Free Net Total Return (USD) Index Futures | 10 |
| SGX MSCI Singapore Net Total Return (USD) Index Futures | 10 |
| SGX MSCI USA Climate Action NTR (USD) Index Futures | 5 |
| SGX MSCI World Climate Action NTR (USD) Index Futures | 5 |
| SGX MYR/SGD Futures | 20 |
| SGX MYR/USD Futures | 10 |
| SGX Mysteel Shanghai Rebar (USD) Futures | 5 |
| SGX Nikkei 225 Climate PAB Futures | 5 |
| SGX Nikkei 225 Index Total Return Futures | 5 |
| SGX Nikkei ESG-REIT Index Futures | 10 |
| SGX-NZX Global Whole Milk Powder (WMP) Futures | 100 |
| SGX-NZX Global Whole Milk Powder (WMP) Options | 10 |
| SGX-NZX Global Skim Milk Powder (SMP) Futures | 100 |
| SGX-NZX Global Skim Milk Powder (SMP) Options | 10 |
| SGX-NZX Global Anhydrous Milk Fat (AMF) Futures | 50 |
| SGX-NZX Global Butter (BTR) Futures | 50 |
| SGX-NZX NZ Milk Price (MKP) Futures | 15 |
| SGX-NZX NZ Milk Price (MKP) Options | 5 |
| SGX Options on MB Iron Ore CFR China (65% Fe Fines) Index Futures Contract | 5 |
| SGX Options on Mini 10-Year Japanese Government Bond Futures | 5 |
| SGX PHP/USD Futures | 10 |
| SGX PLATTS Benzene FOB Korea Futures Contract | 2 |
| SGX Platts Benzene-Naphtha Futures | 2 |
| SGX Platts Gasoil FOB Singapore Index Futures | 5 |
| SGX Platts Iron Ore CFR China (Lump Premium) Index Futures | 5 |
| SGX PLATTS Marine Fuel 0.5% FOB Singapore Index Futures | 2 |
| SGX Platts Naphtha CFR Japan Index Futures | 5 |
| SGX Platts Paraxylene-Naphtha Futures | 2 |
| SGX Platts Methanol CFR China Futures | 2 |
| SGX PLATTS PX CFR China Index Futures | 2 |
| SGX Platts Singapore Fuel Oil 180cst Index Futures | 5 |
| SGX Platts Singapore Fuel Oil 380cst Index Futures | 5 |
| SGX SGD/CNH Futures | 20 |
| SGX SICOM TSR 20 Rubber Options | 20 |
| SGX Singapore Visco Spread Futures | 5 |
| SGX Singapore Single Stock Futures | 50 |
| SGX THB/USD Futures | 50 |
| SGX Three-Month Tokyo Over-Night Average Rate (TONA) Futures | 5 |
| SGX Three-Month Singapore Overnight Rate Average (SORA) Futures | 5 |
| SGX TSI FOB Australia Premium Coking Coal Futures | 5 |
| SGX Options On TSI FOB Australia Premium Coking Coal Futures | 5 |
| SGX TWD/USD (Full-Sized) Futures | 10 |
| SGX TWD/USD (Mini) Futures | 30 |
| SGX TWD/USD (Micro) Futures | 50 |
| SGX USD/CNH (Full-Sized) Futures | 20 |
| SGX USD/CNH (Mini) Futures | 80 |
| SGX Option on USD/CNH (Full-Sized) Futures | 20 |
| SGX Option on USD/INR (USD) Futures | 10 |
| SGX USD/INR (USD) Futures | 10 |
| SGX USD/INR (USD) Month-end Futures | 10 |
| SGX USD/JPY Futures (Standard) | 20 |
| SGX USD/JPY Futures (Titan) | 20 |
| SGX USD/SGD (Full-Sized) Futures | 10 |
| SGX USD/SGD (Mini) Futures | 30 |
| SGX United States Single Stock Futures | 10 |
| SICOM RSS 3 Rubber Contract | 60 |
| SICOM TSR 20 Rubber Contract | 60 |
| Straits Times Index Futures | 50 |
| USD Nikkei Index Futures | 5 |
Amended on 6 December 2010 , 16 December 2010 , 24 January 2011 , 15 February 2011 , 16 May 2011 , 11 June 2012 , 16 July 2012 , 25 February 2013 , 5 August 2013 , 30 September 2013 , 21 October 2013 , 11 November 2013 , 25 November 2013 , 16 December 2013 , 20 January 2014 , 17 February 2014 , 3 April 2014 , 4 August 2014 , 25 August 2014 , 1 September 2014 , 29 September 2014 , 20 October 2014 , 2 December 2014 , 19 January 2015 , 9 February 2015 , 9 March 2015 , 31 August 2015 , 31 August 2015 , 5 October 2015 , 7 December 2015 , 25 January 2016 , 1 February 2016 , 28 March 2016 , 28 March 2016 , 29 March 2016 , 3 May 2016 , 2 June 2016 , 11 July 2016 , 31 October 2016 , 7 November 2016 , 5 December 2016 , 27 February 2017 , 27 March 2017 , 22 May 2017 , 12 June 2017 , 17 July 2017 , 17 July 2017 , 21 August 2017 , 18 September 2017 , 18 September 2017 , 23 October 2017 , 13 November 2017 , 5 February 2018 , 26 March 2018 , 9 April 2018 , 9 April 2018 , 21 May 2018 , 4 June 2018 , 25 June 2018 , 25 June 2018 , 23 July 2018 , 23 July 2018 , 27 August 2018 , 24 September 2018 , 3 December 2018 , 18 March 2019 , 13 May 2019 , 27 May 2019 , 29 July 2019 , 16 September 2019 , 21 October 2019 , 18 November 2019 , 2 December 2019 , 13 January 2020 , 24 February 2020 , 16 March 2020 , 18 May 2020 , 15 June 2020 , 20 July 2020 , 3 August 2020 , 24 August 2020 , 14 September 2020 , 1 October 2020 , 12 October 2020 , 23 November 2020 , 25 January 2021 , 1 March 2021 , 15 March 2021 , 1 April 2021 , 19 April 2021 , 10 May 2021 , 14 June 2021 , 28 June 2021 , 12 July 2021 , 2 August 2021 , 21 September 2021 , 22 November 2021 , 6 December 2021 , 24 January 2022 , 28 February 2022 , 18 July 2022 , 29 July 2022 , 26 September 2022 , 31 October 2022 , 21 November 2022 , 20 February 2023 , 20 March 2023 , 8 June 2023 , 19 June 2023 , 2 October 2023 , 15 July 2024 , 16 July 2024 , 29 July 2024 , 23 September 2024 , 7 October 2024 , 2 December 2024 , 24 February 2025 , 17 March 2025 , 17 March 2025 , 14 April 2025 , 20 January 2025 , 9 June 2025, 14 July 2025 , 14 July 2025 , 1 September 2025 , 3 November 2025 , 24 November 2025, ** 26 January 2026, ** 16 March 2026 , 30 March 2026 , 30 March 2026 , 20 April 2026 , 20 April 2026 , and 30 April 2026 .
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