SGX registers steep growth in USD/CNH futures trading one year after launch

Singapore Exchange Limited (SGX:S68) saw a strong rise in USD/CNH futures trading during the year after the trading instrument was launched on the Exchange.

SGX announced today that the trading volume for SGX USD/CNH futures has exceeded US$167 billion in notional value traded since the onset of such trading 12 months ago.

For the month of September, 34,951 contracts (approx. US$3.5 billion in notional value) changed hands, making SGX’s USD/CNH Futures the most actively traded offshore RMB futures product globally.

Month-end outstanding open interest has surged to 7,387 contracts, or approximately US$739 million in notional value on 30 September.

The announcement comes after a record in yuan futures trading was set on SGX in August. Back then, SGX said the People’s Bank of China (PBOC) move to sharply cut the Chinese renminbi (RMB) daily reference rate has bolstered trading activity in SGX USD/CNH Futures, with a new record high of 6,177 contracts (US$618 million in notional value) traded on August 12, 2015.

Meanwhile, the Yuan role on the global payments stage continues to grow. According to the latest SWIFT report, the Chinese currency overtook the Japanese yen in August to become the fourth most used world payment currency.


To view the announcement from SGX, click here.

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