SGX Reported A Massive Rise In Forex Volumes In AUG 2021

SGX – Singapore Exchange reported the market statistics recorded in August 2021 today. The statistics announced revealed a massive jump up to about 12% on a year-to-year period in the volume of the USD/CNH futures.

Based on the official figures shared publicly, the overall volume of INR/USD Futures recorded by the Singapore Exchange reached 1.1 million contracts last month. This is about a 9% increase when compared with the figure recorded for the same month last year.

The Singapore Exchange also reported steady growth in the turnover generated in the securities market last month. The overall volume of the commodity derivative, including Iron ore, has shot up by 10% on a yearly comparison in August 2021 which is a total of 48% increase in the figure recorded in the same period last year.

The statement released by the Singapore Exchange mentioned, “the USD/CNH futures has risen by 12% on a yearly comparison to 812,929. The USD/CNH Futures recorded by the SGX has now become the most traded RMB Futures contracts internationally in the world after it achieved a record high of open interest of $11.3 billion at the month-end. Also, the volume of the Singapore Exchange INR/USD Futures has risen by 9% on yearly comparison after seeing 1.1 million contracts. This has lifted the overall foreign exchange futures on the Singapore Exchange by 12% to 2 million contracts when compared with the figure recorded at the same period last year.”

It was noted that in July 2021, the SGX saw remarkable growth in its foreign exchange volumes. The Singapore exchange welcomed the Shanxi Securities International Futures recently as a Derivatives Trading Member.

The Steady Growth

In the recent announcement, SGX highlighted the steady growth of the firm in emerging economies across Asian countries. The recent recovery in the economic downturn in India as in a way, helped the optimism of the investors. Additionally, the Iron ore derivative trading spiked in August 2021.

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The press release from the exchange stated that institutional investors had ensured maximum risk management for their portfolio amid the outlook of China after the manufacturing activity of the second-largest economy in the world was contracted. The trading volume of the FTSE China A50 Index Futures on SGX rose by 4% on a yearly comparison after rising to 8.9 million contracts.

Iron Ore was also traded actively on SGX, and the trading volume has increased by 4% to 2.2 million contracts in August when compared on a year-to-year basis.

It was announced in June 2021 that Synergy Futures Limited joined SGX as a Trading Member.

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