The full volumes of foreign exchange futures traded on the Singapore Alternate Group (SGX) FX reached an all-time excessive of three.42 million contracts in September 2022.
That is as the amount of FX futures traded on the platform jumped 31% month-over-month (MoM), reaching a complete notional traded worth of over US$205 billion.
SGX Group disclosed these figures on Tuesday in its market statistics for September 2022.
In August, whole foreign exchange futures traded on the platform stood at 2.6 million contracts, which is a 31% soar from the earlier yr’s determine.
Nevertheless, by the tip of the third quarter that ended September, the amount improved to eight.55 million contracts, which is a 32% year-on-year (YoY) improve.
“Market expectations for the U.S. Federal Reserve to proceed elevating rates of interest fueled volatility on key Asian currencies together with the renminbi (RMB) and Indian rupee, driving risk-management demand,” SGX defined.
Moreover, the derivatives change mentioned the SGX USD/CNH futures quantity spiked to file 1.6 million contracts, which is a 36% MoM and 73% YoY improve.
Open curiosity within the foreign money futures additionally shot up 19% YoY, reaching US$11.12 billion in September 2022.
SGX mentioned the file output consolidated the USD/CNH’s place “because the world’s most generally traded worldwide RMB futures.”
Additionally, contract positions on the SGX INR/USD futures jumped 25% MoM to 1.63 million contracts, which can be a 26% YoY improve.
Broader Market Efficiency
In August, SGX Group, which contains the Baltic Alternate, BidFX, MaxxTrader, Local weather Influence X and Vitality Market Firm, amongst others, reported a web revenue of S$456 million.
Final month, SGX Group’s whole derivatives buying and selling quantity jumped to a file 22.8 million contracts, which is a 14% MoM improve.
Furthermore, derivatives every day common quantity (DDAV) within the month improved 14% MoM to 1.05 million contracts, with a file single-day quantity of two.97 million contracts on September twenty seventh.
Moreover, on a quarterly foundation, SGX Group’s DDAV improved 3% YoY and whole quantity by 4% YoY.
The SGX Group mentioned the file derivatives buying and selling quantity rode on the “again of heightened exercise in overseas change (FX) and commodity futures, as difficult macro situations spurred institutional demand to handle portfolio threat.”
In the meantime, in September, SGX FX launched the SGX CurrencyNode, an digital communication community (ECN) for the buying and selling of non-deliverable forwards.
“The ECN offers FX market members entry to a number of sources of over-the-counter (OTC) liquidity anonymously via a single venue, strengthening SGX FX’s place as Asia’s most complete currencies market,” SGX mentioned.
The full volumes of foreign exchange futures traded on the Singapore Alternate Group (SGX) FX reached an all-time excessive of three.42 million contracts in September 2022.
That is as the amount of FX futures traded on the platform jumped 31% month-over-month (MoM), reaching a complete notional traded worth of over US$205 billion.
SGX Group disclosed these figures on Tuesday in its market statistics for September 2022.
In August, whole foreign exchange futures traded on the platform stood at 2.6 million contracts, which is a 31% soar from the earlier yr’s determine.
Nevertheless, by the tip of the third quarter that ended September, the amount improved to eight.55 million contracts, which is a 32% year-on-year (YoY) improve.
“Market expectations for the U.S. Federal Reserve to proceed elevating rates of interest fueled volatility on key Asian currencies together with the renminbi (RMB) and Indian rupee, driving risk-management demand,” SGX defined.
Moreover, the derivatives change mentioned the SGX USD/CNH futures quantity spiked to file 1.6 million contracts, which is a 36% MoM and 73% YoY improve.
Open curiosity within the foreign money futures additionally shot up 19% YoY, reaching US$11.12 billion in September 2022.
SGX mentioned the file output consolidated the USD/CNH’s place “because the world’s most generally traded worldwide RMB futures.”
Additionally, contract positions on the SGX INR/USD futures jumped 25% MoM to 1.63 million contracts, which can be a 26% YoY improve.
Broader Market Efficiency
In August, SGX Group, which contains the Baltic Alternate, BidFX, MaxxTrader, Local weather Influence X and Vitality Market Firm, amongst others, reported a web revenue of S$456 million.
Final month, SGX Group’s whole derivatives buying and selling quantity jumped to a file 22.8 million contracts, which is a 14% MoM improve.
Furthermore, derivatives every day common quantity (DDAV) within the month improved 14% MoM to 1.05 million contracts, with a file single-day quantity of two.97 million contracts on September twenty seventh.
Moreover, on a quarterly foundation, SGX Group’s DDAV improved 3% YoY and whole quantity by 4% YoY.
The SGX Group mentioned the file derivatives buying and selling quantity rode on the “again of heightened exercise in overseas change (FX) and commodity futures, as difficult macro situations spurred institutional demand to handle portfolio threat.”
In the meantime, in September, SGX FX launched the SGX CurrencyNode, an digital communication community (ECN) for the buying and selling of non-deliverable forwards.
“The ECN offers FX market members entry to a number of sources of over-the-counter (OTC) liquidity anonymously via a single venue, strengthening SGX FX’s place as Asia’s most complete currencies market,” SGX mentioned.
