SGX reports FX Futures Volume rise in February 2021

Steffy Bogdanova
March 10, 2021 10:47 am

Singapore Exchange (SGX) today released its market statistic for February 2021. The exchange reported a rise in FX futures trading volume during last month with 2.3 million contracts and 7% increase compared to January 2021.

The official announcement stated that INR/USD Futures led the rise in volumes with a 22% jump as market volatility increased. The trading volume of USD/CNH futures fell 15% last month during the New Year holidays in China.

SGX reported that Derivatives daily average volume (DAV) increased 6.2%MoM last month reaching 1.1 million contracts. The traded volume was lower on yearly basis at 17.7 million but the exchange attributed that to fewer trading days in onshore markets. The extended Lunar New Year holidays this year were in February which saw several markets across East Asia close, while last year they were marked in January. SGX noted that its derivatives platform was open during those holidays.

SGX

The exchange also reported a jump in FTSE China A50 Index Futures DAV and FTSE Taiwan Index Futures DAV with 485,141 contracts and 104,415 contracts in February, respectively.

SGX also registered a surge in its commodities business. Forward freight agreement (FFA) traded volume surged 80% YoY with 150,601 contracts. Petrochemical derivatives and Paraxylene traded volumes also rose significantly compared to last year. However, Iron ore derivatives traded volume fell 12% MoM in February.

Earlier in February, SGX and Brussels-based international central securities depositary (ICSD), Euroclear Bank announced the launch of the Orchid bond structure in Singapore, combining domestic bond issuance with global distribution channels.

The Singapore exchange recently introduced its pioneering suite of ESG derivatives, accelerating the exchange’s SGX FIRST sustainability initiative.

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
Tags:

Read Also: