SGX Posts US$107.8 B FX Volume in February 2022

The Singapore Exchange (SGX) has announced monthly volumes for February 2022 across its foreign exchange, derivatives, and commodities categories.

The total volume of FX futures traded on SGX was US$107.8 billion, with month-end open interest up 56 percent year-on-year at US$13.9 billion.

The trading volume for the USD/CNH Futures contract on the market was 823,524 contracts, up 15% from a year ago. In February 2022, open interest reached a new high of US$12.4 billion. The results show a significant improvement from a month ago, owing to lower renminbi volatility ahead of the Lunar New Year vacations.

The CNH is becoming more popular as a safe-haven currency as risk aversion rises, and the SGX contract is the most actively traded CNH futures product in the world.

Meanwhile, the daily average volume of derivatives on the Singapore Exchange increased by 5% in February to 1.06 million contracts, the highest level since March 2020. Monthly stock index futures traffic increased 5% month over month to 13.4 million contracts, with sustained activity in the FTSE China A50 Index Futures despite concerns that the mainland's economic development may decelerate in the near term.