Singapore Exchange (SGX) sees FX contracts expand 21% MoM

Singapore Exchange (SGX) reported increased daily average value in securities market and volume growth in derivatives for August. The trends in August seem to suggest a decent increase in volumes across the board for exchanges as the Eurodollar was making waves with some divergent monetary policies beginning to rumble as Europe remains mired in a stagflation environment.


– A total of 51,721 SGX foreign exchange futures contracts were traded, which was 21% higher month on month. SGX’s Indian rupee currency futures scaled new peaks again in August, following a surge of participation from new customers and investors. The SGX INR/USD contract set new records across the board with a monthly volume of 48,570 contracts, an increase of 22% month on month with more than US$1.6 billion in notional value traded. Open interest also hit a new month-end high of 4,306 contracts on 29 August (approximately US$140 million in notional terms).


SGX securities average daily value was up 5% month on month, but it was lower 27% year on year. Total traded value in August remained unchanged at S$21 billion, as compared to July, though there were fewer trading days in the month (21 days) versus July (22 days).
Four new listings raised S$1.4 billion in August, which was more than two times the month before and tripled that of a year earlier.
A total of 32 bond listings raised more than S$8.2 billion in August, compared with 26 listings raising $5.5 billion a year earlier. Outstanding bonds listed on SGX remained as 1,773, up 19% year on year.


– Total derivatives volume in August was 9.4 million contracts, up 5% higher month on month and 9% year on year. The total volume of equity index futures was 8.7 million contracts, more than 6.5% increase month on month and 15% year on year.

– SGX FTSE China A50 futures trading continued to grow in August with increased interest in the China A-share market. A record volume of 3.7 million contracts was traded, up 18% month on month and 112% year on year. This is more than US$1.2 billion in average daily turnover in notional value. Higher participation was seen across all customers segments which include banks, proprietary trading firms, funds, asset management companies and individual traders. The contract’s open interest reached a high of 532,003 contracts on 25 August 2014, or approximately US$3.7 billion in notional terms.

– SGX Nikkei 225 Index Futures traded more than 1.7 million contracts, 17% up month on month but down 21% year on year.

– SGX Interest Rates Futures volume grew 25% higher month on month to reach a total of 38,609 contracts but was down 9% year on year.

– Volume of new OTC SGD Interest Rate Swaps cleared was S$4.2 billion, unchanged from previous month but 37% lower year-on-year. New OTC Non-Deliverable Interest Rate Swaps in MYR and THB recoded a clearing amount of S$ 280 million equivalent.


– Total Asiaclear volume was 189,040 contracts, up 10% month on month and more than triple the volume a year earlier.

– Total volume of iron ore derivatives (futures, options and cleared swaps) was 178,381 contracts, 13% up month on month and more than three times the volume a year before.

To view the full volume breakdown, click here (PDF).

Read Also: