SGX's FX Futures Trading Volume Rose 27% YoY in April 2022

Singapore Exchange (SGX Group) today released its market statistics for April 2022, showing that derivatives trading volume rose to a record amid macro uncertainties.

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Derivatives daily average volume (DAV) rose 25% year-on-year (y-o-y) to 1.1 million contracts in April, reaching an all-time high of almost 3 million contracts on 26 April. Total traded volume for the month gained 19% y-o-y to 20.8 million contracts. Equity index futures volume climbed 23% y-o-y to 15.1 million contracts, while FX futures volume increased 27% y-o-y to 2.8 million contracts—the highest since March 2021.

The traded volume of SGX FTSE China A50 Index futures—the world's most liquid international contract for Chinese equities—gained 37% y-o-y in April to 9.1 million contracts, SGX USD/CNH Futures volume rose 58% y-o-y to 1.2 million contracts, while iron ore volume climbed 3% y-o-y to 1.8 million contracts. SGX Nifty 50 Index futures traded volume increased 14% y-o-y to 2.4 million contracts, while SGX INR/USD Futures volume were up 9% y-o-y at 1.5 million contracts.

Commodity derivatives traded volume stood at 2.1 million contracts in April, easing as market volatility normalised from recent months. Shipping derivatives remained a standout as continued uncertainty over the crisis in Ukraine stoked hedging activity, with record-high open interest in forward freight agreement (FFA) options.

Securities daily average value (SDAV) slid 1% y-o-y in April to S$1.3 billion, as the benchmark Straits Times Index (STI) declined 1.5% to 3,356.9. The market turnover value of structured warrants and daily leverage certificates (DLC) jumped 134% y-o-y in April to S$797 million, while turnover of exchange-traded funds (ETF) rose 43% y-o-y to S$454 million.