SGX Reports Record High RMB Futures Volume Amidst December Surge

The SGX’s USD/CNH futures trading volumes swelled to 51,702 contracts in December 2015, jumping 47.2% MoM from 35,128 in November

The Singapore Exchange (SGX) has reported some of its volumes for the month ending December 2015, including a steadfast performance across its USD/CNH futures, according to an SGX statement.

In particular, the SGX’s USD/CNH futures trading volumes swelled to 51,702 contracts in the month of December 2015, jumping 47.2% MoM from 35,128 in November 2015 – this corresponds to a value of $5.1 billion.

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Overall, SGX’s USD/CNH volume has been rebounding higher in a consecutive monthly advance since October 2015 – this followed after a three-month decline during the summer of 2015, which at the time saw a yearly peak of nearly 40,000 contracts traded in August 2015.

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In addition, the SGX also notched a record open interest of USD/CNH futures, having surged to 10,495 contracts as of the year-end on December 31, 2015. The increasing volume is likely attributable to a broader number of acquisitions and higher degree of market volatility that has by and large permeated the market for the majority of H2 2015.

This trend was also further reinforced earlier today when the People’s Bank of China (PBoC) altered its daily reference rate for the Chinese renminbi below a key threshold, or RMB 6.5 to the USD, for the first time in over four years.

Last month, SGX made headlines after it revealed a distinct decline across its securities turnover, which came in at $19.4 billion, down -16.0% MoM. Across a yearly timeframe, November 2015’s figure were also -13.0% lower YoY from November 2014.

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