SGX Posts 62% YoY Increase in FX Futures Trading for May 2022

Singapore Exchange (SGX Group) today released its market statistics for May 2022. Derivatives volume rose amid broad optimism over China’s economic recovery alongside higher volatility in global markets. 

Global institutional investors continued to benefit from SGX Group’s unique multi-asset offering to manage portfolio risk, as derivatives traded volume grew 23% year-on-year (y-o-y) in May to 22.3 million contracts. Derivatives daily average volume (DDAV) increased 19% y-o-y. SGX FTSE China A50 Index Futures remained the world’s most liquid international contract for Chinese equities, with volume up 24% y-o-y at 8.6 million contracts. This lifted total equity index futures volume by 21% y-o-y to 15.7 million contracts, with broad-based gains across SGX Nifty 50 Index Futures (up 42% y-o-y), SGX MSCI Singapore Index Futures (up 23% y-o-y) and SGX Nikkei 225 Index Futures (up 4% y-o-y). 

Foreign exchange (FX) futures performed strongly on SGX FX, Asia’s leading currencies marketplace, with total traded volume rising 62% y-o-y in May to 3.3 million contracts. This was led by a 77% y-o-y jump in SGX USD/CNH futures to 1.5 million contracts – representing a record-high monthly volume (full-sized and mini) of almost US$155 billion in notional terms. SGX INR/USD futures volume climbed 54% y-o-y to 1.6 million contracts, the highest since March 2021, representing US$41.8 billion in notional terms. SGX TWD/USD futures also hit a monthly record of nearly US$236 million notional traded.  

Securities Market Turnover Climbs 

Securities daily average value (SDAV) on SGX Securities rose 18% m-o-m in May to S$1.51 billion, while total market turnover value increased 12% m-o-m to S$28.6 billion. The benchmark Straits Times Index (STI) has gained 3.5% year-to-date (YTD), with reinvested dividends boosting the total return to 5.6%. 

The market turnover value of exchange-traded funds (ETF) stood at S$353 million in May. The six SGX-listed China equity ETFs recorded a 25th consecutive month of combined net inflows, with S$468 million of net creations since 2020. This included S$104 million of net creations YTD.