Singapore Exchange (SGX) today released its trading metrics for March 2022. The company saw a surge in FX activity during the last month as the total foreign exchange futures traded volume came in at 2.8 million contracts. The numbers represent a 34% rise compared to the February.
The exchange noted that the conflict between Russia and Ukraine bolstered hedging activity in the FX market. Total FX futures traded volume increased 34% MoM to 2.8 million contracts in March. USD/CNH futures traded volume rose 48% MoM in last month. SGX INR/USD Futures volume were up by 22%.
SGX reported a record Derivatives daily average volume (DAV) of 1.2 million contracts. The registered numbers were the highest in two years.
The Singapore Exchange stated in the official announcement:
The traded volume of SGX FTSE China A50 Index futures – the most liquid international contract for Chinese equities – jumped 57% m-o-m in March to 11.1 million contracts, bringing the first-quarter tally to 26.8 million, up 17% q-o-q. SGX USD/CNH futures traded volume gained 48% m-o-m in March to 1.2 million contracts, while volume for the quarter was up 9% q-o-q. SGX Nifty 50 Index Futures traded volume rose 2% m-o-m (+18% q-o-q), while SGX INR/USD Futures volume climbed 22% m-o-m (+13% q-o-q).