SGX sets USD/CNH futures trading record after yuan devaluation

Singapore Exchange Limited (SGX:S68) is enjoying a summer of strong operating metrics. After posting a set of robust results for July 2015, SGX today reported a record in terms of USD/CNH futures trading volumes.

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.

Trading in SGX USD/CNH futures has surged in recent months on the Singapore Exchange, on the back of an expanded pool of market makers including Bank of China and other financial institutions. Trading volumes surged twofold month-on-month to a record 20,334 contracts (approximately US$2 billion in notional value traded) in July 2015, making SGX USD/CNH futures the most actively traded offshore RMB futures product globally.

Outstanding open interest has grown to a new record high of 11,179 contracts or (approximately US$1.1 billion in notional value) on August 12, 2015.


Chart source: Bloomberg.

To view the official announcement by SGX, click here.

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