SGX Reports Surge in FX Futures Volume in February 2021

Singapore Exchange (SGX) today reported the market statistic for the last month. The exchange saw a surge in FX futures trading volume during February 2021 as the total number of contracts reached 2.3 million, a 7% jump compared to January 2021.

According to the official announcement, the latest surge in FX volumes was led by INR/USD futures as the volume in the currency pair jumped 22% in February due to high market volatility. The trading volume of USD/CNH futures dipped 15% during the last month amid the New Year holidays in China.

“Derivatives daily average volume (DAV) on SGX rose 6.2% month-on-month (m-o-m) in February to 1.1 million contracts, even as total traded volume was lower year-on-year (y-o-y) at 17.7 million due to fewer trading days in onshore markets. Several markets across East Asia were closed for extended Lunar New Year holidays in February, a period that was marked in January last year. SGX’s derivatives platform was open and available through these holidays,” SGX mentioned in the press release.

SGX also reported a jump in FTSE China A50 Index Futures DAV and FTSE Taiwan Index Futures DAV.

Commodities and Securities

Apart from the growth in FX futures and the overall derivatives average daily volume, SGX highlighted a surge in its commodities business. Petrochemical derivatives volume and Paraxylene traded volume jumped significantly during February 2021. However, Iron ore derivatives volume dropped 12% in February due to the Lunar New Year holidays. The securities’ daily average value (SDAV) on SGX was down nearly 1% in February. “SGX welcomed multidisciplinary specialist healthcare group Livingstone Health Holdings Limited as well as fintech group MC Payment Limited in February. Homegrown Livingstone Health joins a growing listed healthcare cluster on the exchange, while MC Payment’s listing was the first for a digital-payments company in Singapore,” the exchange added.

SGX recently partnered with Belgium-based financial services provider Euroclear Bank to launch the Orchid bond structure in Singapore.

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