SGX's FX Futures Volume Declines 7% YoY in November 2021

Singapore Exchange (SGX) recently released its market statistics for November 2021, showing a decline in the overall foreign exchange (FX) trading activity during the last month.

According to the report, the total FX futures volume reached 1.96 million contracts in November 2021, which is 7% lower compared to the same period last year. This represents a 11% percent decline compare to October’s 2.18 million contracts.

In addition, the volume of SGX USD/CNH Futures climbed 6% YoY to 920,559 contracts in the last month. The SGX USD/CNH Futures is the world’s most widely traded international RMB futures contract and achieved a month-end open interest of US$10.2 billion, a 11% increase compared to the same period in the last year.

In Singapore, total securities market turnover on SGX increased 16% month-on-month to S$28.2 billion, while securities daily average value gained 5% m-o-m to about S$1.3 billion. Total commodities derivatives volume jumped 52% YoY to 2.3 million contracts.

“Risk management activities amid price swings in the physical market sharply lifted volumes in our commodity derivatives market,”the exchange stated.

Last month, SGX has collaborated with Changi Airports International (CAI)​ to launch the iEdge-GateEq Aviation and Travel Index, aiming to capture global aviation and travel-related long term growth, as borders reopen and travel restrictions ease.