SGX Group sets record FX activity in January

Total futures volume rose 57% YoY to 4.3 million contracts.

The Singapore Exchange (SGX Group) saw its total future volume jump to a record high of 4.3 million contracts in January, a 57% YoY increase.
 
In the same month, SGX USD/CNH Futures volume more than doubled to 2.6 million contracts. 

“On 22 January, open interest in the contract – the world’s most widely traded international renminbi futures – reached a notional US$18.5b, a single-day record high,” SGX reported.

“Open interest in SGX INR/USD Futures achieved a daily record of 167,221 lots on 26 January on increased portfolio hedging, ahead of the Indian government’s February announcement of its interim budget,” SGX added.

SGX also broke its March 2022 record for derivatives traded volume in January, climbing 27% YoY to 24.6 million contracts. 

Also in January, derivatives daily average volume (DDAV) climbed 9% MoM to 1.1 million contracts, extending gains made in 2023.

Meanwhile, SGX Commodities’ benchmark iron ore and forward freight agreement (FFA)  derivatives volumes also increased by 88% YoY to 4.7 million contracts and 27% YoY, respectively.

Another milestone SGX achieved in January is its first active ETF listing, with assets under management (AUM) of $37m.