SGX Reports Rise in Forex Futures Volume in February 2021

Singapore Exchange (SGX) released its market statistics for February 2021. The exchange saw a rise in Forex futures trading volume for the last month as the total number of contracts grew to 2.3 million, which is a 7 percent increase compared to the previous month.

According to the press release, the exchange stated that the rise in Forex trading volumes was led by SGX INR/USD Futures as the trading volumes in this currency pair increased by 22 percent due to high market volatility. The trading volume of SGX USD/CNH Futures dropped by 15 percent to 717,806 contracts amid the Lunar New Year holidays in China.

As SGX mentioned in the press release, "Derivatives daily average volume (DAV) on SGX rose 6.2% month-on-month (m-o-m) in February to 1.1 million contracts, even as total traded volume was lower year-on-year (y-o-y) at 17.7 million due to fewer trading days in onshore markets. Several markets across East Asia were closed for extended Lunar New Year holidays in February, a period that was marked in January last year. SGX's derivatives platform was open and available through these holidays."

​SGX also mentioned that there's a rise in SGX FTSE China A50 Index Futures DAV and SGX FTSE Taiwan Index Futures DAV.