SGX Reports Sharp Increase in Forex Futures Volume During July 2021

Singapore Exchange (SGX) today reported its market statistics for the month of July. The exchange saw a jump in the derivatives total traded volume as the contracts increased 8% on a month-to-month basis to 20.4 million contracts, the highest in four months.

According to the report, SGX's total FX futures volume reached 2.2 million contracts, increasing 30% compared to the same period in 2020. This increase was led by a 38% YoY gain in SGX INR/USD Futures on signs of inflationary pressure in India.

SGX USD/CNH Futures, the world's most widely traded international RMB futures contract, climbed 20% YoY on uncertainty over the impact of China's regulatory reforms in the domestic economy.

In addition, SGX saw a substantial jump in exchange-traded funds (ETFs) turnover. The total market turnover value of ETFs on the Singapore Exchange increased 50% m-o-m in July 2021 to S$563 million, the highest since March 2020.

During the month, SGX announced it will fully acquire FX trading platform MaxxTrader​, further extending its reach into the over-the-counter (OTC) space. SGX is building an integrated FX ecosystem and marketplace to facilitate global access to OTC and on-exchange currency derivatives.