SGX Posts a Substantial Jump in FX Volume during September 2021

SGX Posts a Substantial Jump in FX Volume during September 2021

October 12, 2021

Singapore Exchange (SGX) published its market statistics for September 2021 today. The exchange saw significant growth in FX volumes after the SGX USD/CNH Futures and SGX INR/USD Futures jumped substantially in the last month.

According to an official press release shared with Finance Magnates, SGX INR/USD Futures rose 17% m-o-m to 1.3 million contracts. However, USD/CNH Futures reached 921,663 contracts, which is 15% higher compared to the same period in 2020.

In addition to a jump in FX volumes, SGX FTSE China A50 Index Futures showed remarkable growth in September 2021. SGX Nifty 50 Index Futures traded volume also climbed 9% m-o-m in September to 2.1 million contracts.

“SGX remained the go-to venue for global investors to manage portfolio investments in China. The hyper-liquid SGX FTSE China A50 Index Futures was a standout performer in September, with traded volume rising 20% year-on-year (y-o-y) to 9.3 million contracts, the highest since March 2021. SGX USD/CNH Futures, the world’s most widely traded international RMB futures, climbed 15% y-o-y to 921,663 contracts. Benchmark iron ore derivatives gained 14% y-o-y to 2.1 million contracts, extending its relevance as a barometer of the Chinese economy,” the exchange mentioned in the announcement.

Last month, Singapore Exchange and The Stock Exchange of Thailand announced the expansion of their collaboration through Thailand-Singapore DR Linkage.

Derivative Traded Volume

In September 2021, the overall derivative traded volume on SGX touched 21.1 million contracts, which is 4% higher compared to the same period last year. “From July to September, total derivative traded volume on SGX climbed 12% from the April-to-June period, or quarter-on-quarter (q-o-q). Equity index futures volume over the quarter gained 16.6% q-o-q. FX futures volume slid 2.8% q-o-q and commodity derivative volume increased 9.9% q-o-q,” SGX added.

Total securities market turnover value on SGX rose 11% y-o-y in September to S$27 billion, the highest in four months, while securities daily average value (SDAV) climbed 11% y-o-y to S$1.2 billion. For the July-to-September period, the average securities clearing fee was 2.57 basis points.

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