Rupee Leads FX Futures Contracts to Surge 22% in August at Singapore Exchange

China A50 futures trading also continued to grow in August with increased interest in the China A-share market. A record

SGX_Singapore Exchange (SGX) reported today its August 2014 volumes, showing an increased daily average value in the securities market of 5% MoM, and a similar volume growth in derivatives for the month.

The total derivatives volume in August at SGX was 9.4 million contracts, up 5% higher month-on-month and 9% year-on-year. The total volume of equity index futures was 8.7 million contracts, more than a 6.5% increase month-on-month and 15% year-on-year.

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A total of 51,721 SGX foreign exchange futures contracts were traded, which was 21% higher month-on-month. SGX’s Indian rupee currency futures reached new highs again in August, which the exchange refers to as a surge of participation from new customers and investors.

The SGX INR/USD contract set new records across the board with a monthly volume of 48,570 contracts, an increase of 22% month-on-month with more than US$1.6 billion in notional value traded. Open interest also hit a new month-end high of 4,306 contracts on August 29 (approximately US$140 million in notional terms).

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SGX FTSE China A50 futures trading continued to grow in August with increased interest in the China A-share market. A record volume of 3.7 million contracts were traded, up 18% month-on-month and 112% year-on-year. This is more than US$1.2 billion in average daily turnover in notional value. The SGX explained that higher participation was seen across all customers segments, including banks, proprietary trading firms, funds, asset management companies and individual traders. The contract’s open interest reached a high of 532,003 contracts on August 25. 2014, or approximately US$3.7 billion in notional terms.

SGX Nikkei 225 Index Futures traded more than 1.7 million contracts, 17% up month-on-month but down 21% year-0n-year.

SGX Interest Rates Futures volume grew 25% higher month-on-month reaching a total of 38,609 contracts, but was down 9% year-on-year.

Volume of new OTC SGD Interest Rate Swaps cleared was S$4.2 billion, unchanged from the previous month but 37% lower year-on-year. New OTC Non-Deliverable Interest Rate Swaps in MYR and THB recorded a clearing amount of $280 million equivalent.

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