SGX reports a 31% YoY jump in FX futures traded volume in August

Singapore Exchange (SGX) today released its trading metrics for August 2022. The company saw a surge in FX activity on yearly basis during the last month as the total foreign exchange futures traded volume came in at 2.6 million contracts.

The numbers represent a 31% rise compared to the same period the previous year. On monthly basis, this was a 4% increase compared to the 2.5 million contracts recorded in July 2022.

The August FX activity was led by a 45% YoY surge in SGX USD/CNH futures to 1.2 million. SGX INR/USD futures also jumped 17% YoY to 1.3 million contracts.

The Singapore Exchange said in the official press release:

The U.S. Federal Reserve’s unprecedented cycle of interest-rate hikes continued to place Asian currencies under pressure, driving institutional hedging on SGX FX.

The SGX contract is the world’s most widely traded international renminbi (RMB) futures contract. SGX INR/USD futures volume climbed 17% y-o-y to 1.3 million contracts amid volatility in the Indian rupee


SGX reported derivatives traded volume saw a marginal rise of 4% in August to 20.4 million contracts. Derivatives’ daily average volume (DDAV) reached 921,170 contracts, registering a 2% increase compared to the same period last year.

Securities growth

Securities market turnover jumped to S$24.3 billion in August, a 35% rise compared to the previous month. Securities daily average value (SDAV) also recorded a rise of 23% MoM to S$1.1 billion.

The market turnover value of structured warrants and daily leverage certificates (DLC) was up 16%MoM to S$608 million.

SGX stated:

The broad pickup in securities market turnover came on the back of the corporate earnings season and a strong month-end rebalancing. Institutional portfolio rotation led to an estimated S$750 million in net institutional inflows in August, the highest since January and mainly into the Financials and Consumer sectors.

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