SGX Group's Commodity Derivatives & FX Futures Traded Volume Surge in September 2023

Singapore Exchange​ (SGX Group) has released its market statistics for September 2023 and the third quarter of the year, indicating an increase in derivative trading activity in foreign exchange (FX) and commodities due to widening rate differentials, alongside surging oil prices.

Derivatives daily average volume in September reached 1.1 million contracts, up 3% on both a yearly and monthly basis. From July to September, total derivatives traded volume grew 4% year-on-year to 65.6 million contracts.

In addition, commodity derivatives traded volume stood at 5.4 million contracts, hitting a new high. This figure was 77% higher over the September 2022. For the July-to-September period, total volume surged 47% to 14.7 million contracts.

The monthly benchmark iron ore derivatives volume climbed 85% on a yearly basis, driven by record open interest in both futures and options.

Moreover, total FX futures traded volume on SGX FX in September came in at 4.1 million contracts, an increase of 20% compared to the year ago period. And the total volume for the third quarter went up 36% to 11.7 million contracts.

Singapore’s securities daily average value saw a 19% month-on-month decline in September to S$867 million, as major global stock markets fell during the month. Securities market turnover value dropped 26% compared to August 2023. Total securities market turnover value for the July-to-September period was down 8% compared to the last same period.