The Singapore Stock Exchange (SGX) today announced its market stats for August 2021. The exchange recorded a jump of nearly 12% year-over-year in the volume of USD/CNH futures.
According to official figures shared with Finance Magnates, the total volume of SGX INR/USD futures was 1.1 million contracts in August 2021, an increase of 9% over the same period last year.
SGX has reported steady growth in stock market turnover over the past month. Total volume of commodity derivatives including iron ore rose 10% year-on-year to 2.6 million contracts. Petrochemical volume at SGX reached 3,407 contracts in August 2021, up 48% over the same period in 2020.
USD/CNH futures are up 12% YoY to 812,929. SGX USD/CNH futures are the most widely traded international renminbi futures contract with month-end open interest of $11.3 billion, a record high. SGX INR/USD futures volume increased 9% year-over-year to 1.1 million contracts, bringing the total volume of SGX FX futures trading 12% year-over-year to 2 million contracts.”
Suggested Articles
UK digital asset exchange CoinBurp partners with Spectrum Search
In July 2021, the Singapore Stock Exchange experienced a significant growth in FX volumes. SGX recently welcomed futures company Shanxi Securities International as a derivatives trading member.
steady growth
In its latest announcement, the Singapore Stock Exchange highlighted the steady growth in emerging economies across Asia. The recent economic recovery in India has helped keep investors optimistic. In addition, iron ore derivatives trading increased in August 2021.
Institutional investors are ramping up their portfolio risk management amid uncertainty over China’s outlook after manufacturing activity in the world’s second-largest economy contracted in August for the first time in nearly a year and a half. The volume of SGX FTSE China A50 futures contracts increased 4% year-on-year (y-o-y) to 8.9 million contracts. Iron ore, which is increasingly used as a proxy for China’s macroeconomic environment, is also actively trading, with SGX’s benchmark iron ore derivatives volume up 4% year-on-year in August to 2.2 million contracts,” the exchange added in the press release.
In June 2021, Synergy Futures Limited joined the Singapore Stock Exchange as a trading member.