The Singapore Exchange said in the official press release:
Record foreign exchange (FX) trading activity drove derivatives volume, amid optimism on Asian economies and signs that the U.S. Federal Reserve will slow its pace of interest-rate hikes.
Derivatives daily average volume (DAV) for the period decreased to 1.1 million contracts, registering an 8.3% fall compared to October 2022’s 1.2 million contracts. However, the total traded volume for November went up 7.7% compared to previous month to 23.7 million contracts, the highest since March 2022.
SGX said:
China’s gradual reopening and expanded government support for the country’s property sector fanned risk-on sentiment in Asian equities, currencies as well as commodities, and SGX Group’s multi-asset offering enabled institutional investors to manage their portfolio risk.
Securities growth
SGX securities market turnover came in at S$27.2 billion in November, registering a 18% MoM rise compared to the October 2022. Securities daily average value (SDAV) also was also up by 7% MoM to S$1.2 billion.
The turnover exchange-traded funds (ETF) was up 18% MoM to S8 million.
