SGX Sees 34% Rise in FX Futures Traded Volume during March 2022

Singapore Exchange (SGX) today published its market statistics for March 2022. For the reported period, the platform witnessed a sharp surge in FX activity as the total foreign exchange futures traded volume reached 2.8 million contracts, an increase of approximately 34% compared to the previous month.

According to SGX, the conflict between Russia and Ukraine boosted hedging activity across the FX market. USD/CNH futures traded volume gained 48% MoM in March. SGX INR/USD Futures volume spiked by almost 22%.

The Singapore Exchange saw record activity across Derivatives DAV in March as the figure increased to 1.2 million contracts, the highest level in 2 years.

“The traded volume of SGX FTSE China A50 Index futures – the most liquid international contract for Chinese equities – jumped 57% m-o-m in March to 11.1 million contracts, bringing the first-quarter tally to 26.8 million, up 17% q-o-q. SGX USD/CNH futures traded volume gained 48% m-o-m in March to 1.2 million contracts, while volume for the quarter was up 9% q-o-q. SGX Nifty 50 Index Futures traded volume rose 2% m-o-m (+18% q-o-q), while SGX INR/USD Futures volume climbed 22% m-o-m (+13% q-o-q),” the exchange noted.

Throughout the last 12 months, Singapore Exchange witnessed a consistent rise in trading activity. As a result, the exchange reported strong growth in its financial metrics during H1 FY2022.

Securities Turnover

Overall, securities turnover rose during the reported month as STI became the strongest performing benchmark in the Asia Pacific region. Due to the recent macroeconomic developments, total commodity derivatives traded volume increased 66% m-o-m to 4.1 million contracts in March 2022.

“Total equity index futures traded volume increased 38% m-o-m to 18.4 million contracts in March (+15% q-o-q). There were gains across the board, with SGX Nikkei 225 Index Futures volume up 37% m-o-m (+12% q-o-q), SGX FTSE Taiwan Index Futures volume up 31% m-o-m (+15% q-o-q) and SGX MSCI Singapore Index Futures volume up 10% m-o-m (+5% q-o-q),” Singapore Exchange added.