Day: 26 September 2017

SGX Achieves FX Record

Singapore Exchange (SGX) has announced a new daily volume record for its SGX INR/USD futures contract.
The exchange says it handled a total of 108,417 contracts on 22 September 2017, translating to a notional value of $3.34 billion. The INR/USD is SGX’s most actively traded FX futures contract, and recent volume growth has extended its market share to more than 40%, SGX adds.
SGX also recorded its highest ever daily volume for its USD/CNH on 8 September 2017, with 25,857 contracts traded.

What Makes a Good FXPB Provider?

In a recent survey by Profit & Loss, 29% of respondents cited balance sheet strength as the most important factor when selecting a prime service provider. Meanwhile, 19.9% said that pricing was the most important factor and 14.5% said that the technology available at the prime service provider was the key motivator when selecting a prime.

The product range offered and the existing relationship with the prime provider were both picked as the most important factor by 13% of respondents. Only 3% said that the leverage available is the most vital consideration in a prime service provider. Meanwhile, 7.6% of respondents chose to specify alternative priorities when selecting a prime service provider, and some of their comments are illuminating.