SGX Posts a Substantial Jump in FX Volume during September 2021

SGX USD/CNH Futures spiked 15% y-o-y to 921,663 contracts.

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.

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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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