Friday, June 14, 2024

SGX’s FX Futures Hit ‘All-Time Excessive’ 4 Million Contracts in November

by Jeremy

Foreign exchange futures traded on the Singapore Change (SGX), Asia’s main securities and
derivatives market operator, surged to an “all-time excessive” of 4 million
contracts in November. This represents a 21% soar month-on-month (MoM) and a 104% improve
year-over-year (YoY) from the three.3 million
contracts traded in October.

With the brand new figures,
that are contained within the SGX Group market statistics for November 2022 revealed on Monday, the
change operator has surpassed its
file 3.42 million contracts
posted earlier in
September.

In response to the SGX Group, hedging exercise on the SGX FX, its over-the-counter (OTC) foreign exchange futures
market, shot up final month as the US’ rate of interest
pattern weakened the greenback. That is whilst the quantity of the SGX
INR/USD futures improved 20% MoM and 81% YoY to 1.8 million contracts, which is up from 1.5
million contracts in October.

Moreover, the SGX
INR/USD futures posted a file common each day turnover of 83,700 contracts in
November. As well as, the KRW/USD futures hit “a brand new month-to-month excessive” price a notional worth of US$3.3 billion.

“File international change
(FX) buying and selling exercise drove derivatives quantity, amid optimism on Asian
economies and indicators that the U.S. Federal Reserve will gradual its tempo of
interest-rate hikes,” SGX Group defined.

Take a look at this Finance Magnates London Summit 2022 session on new applied sciences in use within the buying and selling business.

8-Month Excessive Derivatives
Quantity

In the meantime, the whole
derivatives throughout fairness, foreign exchange and commodities traded on SGX in November shot
up 8% MoM and 30% YoY to 23.7 million contracts, which is up from 22 million within the
prior month. Quite the opposite, whereas the derivatives each day common quantity (DDAV)
dropped -8% to 1.1 million contracts, which is down from 1.2 million within the earlier
month, the quantity climbed 27% year-on-year.

“China’s gradual
reopening and expanded authorities assist for the nation’s property sector
fanned risk-on sentiment in Asian equities, currencies in addition to commodities,
and SGX Group’s multi-asset providing enabled institutional traders to handle
their portfolio threat,” SGX defined.

In the meantime, Finance
Magnates
reported in August that SGX Group’s OTC FX income rose
47% to S$58.4 million
on the finish of its
fiscal yr 2022. As well as, the Group’s whole income elevated by 4% to
S$1.1 billion, with a internet revenue reaching S$456 million throughout the interval.

The SGX Group consists of
subsidiaries such because the Baltic Change, BidFX, MaxxTrader, Local weather Influence X
and Vitality Market Firm, amongst others.

Foreign exchange futures traded on the Singapore Change (SGX), Asia’s main securities and
derivatives market operator, surged to an “all-time excessive” of 4 million
contracts in November. This represents a 21% soar month-on-month (MoM) and a 104% improve
year-over-year (YoY) from the three.3 million
contracts traded in October.

With the brand new figures,
that are contained within the SGX Group market statistics for November 2022 revealed on Monday, the
change operator has surpassed its
file 3.42 million contracts
posted earlier in
September.

In response to the SGX Group, hedging exercise on the SGX FX, its over-the-counter (OTC) foreign exchange futures
market, shot up final month as the US’ rate of interest
pattern weakened the greenback. That is whilst the quantity of the SGX
INR/USD futures improved 20% MoM and 81% YoY to 1.8 million contracts, which is up from 1.5
million contracts in October.

Moreover, the SGX
INR/USD futures posted a file common each day turnover of 83,700 contracts in
November. As well as, the KRW/USD futures hit “a brand new month-to-month excessive” price a notional worth of US$3.3 billion.

“File international change
(FX) buying and selling exercise drove derivatives quantity, amid optimism on Asian
economies and indicators that the U.S. Federal Reserve will gradual its tempo of
interest-rate hikes,” SGX Group defined.

Take a look at this Finance Magnates London Summit 2022 session on new applied sciences in use within the buying and selling business.

8-Month Excessive Derivatives
Quantity

In the meantime, the whole
derivatives throughout fairness, foreign exchange and commodities traded on SGX in November shot
up 8% MoM and 30% YoY to 23.7 million contracts, which is up from 22 million within the
prior month. Quite the opposite, whereas the derivatives each day common quantity (DDAV)
dropped -8% to 1.1 million contracts, which is down from 1.2 million within the earlier
month, the quantity climbed 27% year-on-year.

“China’s gradual
reopening and expanded authorities assist for the nation’s property sector
fanned risk-on sentiment in Asian equities, currencies in addition to commodities,
and SGX Group’s multi-asset providing enabled institutional traders to handle
their portfolio threat,” SGX defined.

In the meantime, Finance
Magnates
reported in August that SGX Group’s OTC FX income rose
47% to S$58.4 million
on the finish of its
fiscal yr 2022. As well as, the Group’s whole income elevated by 4% to
S$1.1 billion, with a internet revenue reaching S$456 million throughout the interval.

The SGX Group consists of
subsidiaries such because the Baltic Change, BidFX, MaxxTrader, Local weather Influence X
and Vitality Market Firm, amongst others.

Supply hyperlink

You have not selected any currency to display