SGX Posts a Strong Jump in FX Volumes during August 2021

Singapore Exchange (SGX) today reported its market statistics for August 2021. The exchange posted a jump of nearly 12% y-o-y in the volume of USD/CNH Futures.

According to the official numbers shared with Finance Magnates, the total volume of SGX INR/USD Futures reached 1.1 million contracts in August 2021, which is up by 9% compared to the same period last year.

SGX reported steady growth in securities market turnover during the last month. The total commodity derivative volume including iron ore increased 10% y-o-y to 2.6 million contracts. Petrochemicals volume on SGX reached 3,407 contracts in August 2021, which is 48% higher compared to the same period in 2020.

“USD/CNH Futures climbed 12% y-o-y to 812,929. 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. The volume of SGX INR/USD Futures climbed 9% y-o-y to 1.1 million contracts, lifting total foreign exchange (FX) futures traded volume on SGX by 12% y-o-y to 2 million contracts,” SGX mentioned.

In July 2021, Singapore Exchange saw substantial growth in FX volumes. SGX recently welcomed Shanxi Securities International Futures as a Derivatives Trading Member.

Steady Growth

In the latest announcement, Singapore Exchange highlighted a steady growth in emerging economies across Asia. The recent economic recovery in India helped the optimism of investors. Trading of Iron ore derivatives also spiked in August 2021.

“Institutional investors increased their portfolio risk management amid uncertainty over China’s outlook after manufacturing activity in the world’s second-largest economy contracted in August for the first time in nearly a year-and-a-half. SGX FTSE China A50 Index Futures traded volume rose 4% year-on-year (y-o-y) to 8.9 million contracts. Iron ore, increasingly used as a macroeconomic proxy for China, was also actively traded, as the volume of SGX’s benchmark iron ore derivatives gained 4% y-o-y in August to 2.2 million contracts,” the exchange added in the press release.

In June 2021, Synergy Futures Limited Joined Singapore Exchange as a Trading Member.

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