Singapore Exchange (SGX) announced its market statistics for April 2021 today. The exchange reported strong growth in FX volume as the total number of contracts reached 2.2 million last month.
According to the official press release, INR/USD futures reached 1.4 million contracts in April 2021, which is a jump of 38% compared to the same period in 2020. Singapore Exchange also reported a 13% increase in USD/CNH futures as the total number of contracts reached 766,980.
On 30 April 2021, USD/SGD futures at Singapore Exchange reached a single-day record high of 10,521 contracts. SGX saw significant growth in secondary fundraising during the last month.
“Derivatives traded volume on SGX rose 5% year-on-year (y-o-y) in April to 17.5 million contracts. SGX’s suite of pan-Asia benchmark equity derivatives climbed to 12.3 million, led by an 11% increase in SGX FTSE China A50 Index Futures trading volume to 6.7 million. SGX Nifty 50 Index Futures grew 8% to 2.1 million contracts while SGX MSCI Singapore Index Futures were up 17% at 1 million,” SGX mentioned in the official announcement.
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In January 2021, Singapore Exchange partnered with FTSE Russell to accelerate its SGX FIRST sustainability agenda and introduced ESG derivatives during the same month.
Total Commodity Volume
Despite the reason that the overall securities market turnover dropped nearly 9% year-on-year in April, the exchange saw consistent growth in its total commodity volume. Additionally, Singapore Exchange reported 2.2 million commodity contracts in April 2021, which is up 25% compared to the same period last year.
“Record physical iron ore prices bolstered demand to manage risk via options contracts. Freight derivatives volume continued to be underpinned by tightness in supply chains across dry-bulk markets, with forward freight agreements (FFA) surging 90% to 144,423 contracts. SGX’s unrivaled offering enables market participants to manage bulk cargo and freight risks on a liquid and capital-efficient platform,” SGX added.
In February 2021, SGX announced a partnership with Belgium-based financial services provider, Euroclear Bank to launch the Orchid bond structure in Singapore. Furthermore, the exchange welcomed Haitong International as a clearing member in March 2021.