SGX FX volume surges 104% YoY in November

Singapore Exchange (SGX) has released its market statistics for November 2022. The exchange reported a surge in foreign exchange trading, motivated by optimistic Asian market.

The Asian FX OTC and futures market place saw accelerated activity in November. Total futures traded volume on SGX FX climbed 21.2% compared to the previous month to an all-time high for the company of 4 million contracts. The number surged 104% compared to the same period in 2021.

Additionally, SGX INR/USD Futures volume jumped 81%YoY to 1.8 million contracts, with an average daily turnover of 83,700 contracts. SGX KRW/USD Futures reached a monthly high of US$3.3 billion notional.


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 S$398 million.


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