SGX’s FX Futures Volume Jumps 12% YoY in August 2021

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

“An uneven economic recovery in Asia spurred demand to invest and manage risk across multiple asset classes. SGX’s commodity derivatives suite was a standout performer as price swings and supply-chain disruptions continued to challenge physical markets,”the exchange stated.

According to the report, the total FX futures volume reached 2 million contracts in August 2021, which is 12% higher compared to the same period last year. The latest jump was led by a 9% y-o-y gain in SGX INR/USD futures.

In addition, the volume of SGX USD/CNH Futures climbed 12% to 812,929 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$11.3 billion – a record high.

In Singapore, total securities market turnover on SGX increased 5% month-on-month to S$26.3 billion, while securities daily average value gained 5% m-o-m to about S$1.3 billion.

As Fazzaco reported earlier, SGX has amended the default management process​​ for clearing members of The Central Depository Pte Ltd (CDP). This follows a November 2020 public consultation on the proposed changes which received strong market support.