Day: August 8, 2018

FX Volumes Dip on SGX Despite USD/CNH Surge

The total volume of FX futures traded on SGX in July was 1.7 million, down 8% month-on-month, despite the exchange seeing record volumes in its USD/CNH futures.

Although volumes were down last month compared to June, they were still up 124% year-on-year. The monthly decrease appears to have been driven by a decline in volumes on SGX’s INR/USD futures, with trading down 23% m-o-m but still up 81% y-o-y.

The bright spot for SGX in July was trading on its USD/CNH futures, as a record $61.5 billion in notional was traded on these contracts, bringing the total volume of these contracts cleared to over $255 billion this year.

CLS Data Confirms ADV Trends

CLS Group FX volumes have confirmed the trend established by those major platforms to report data by revealing that it handled $1.64 trillion per day in July 2018, down 13.7% from the previous month but up 2.6% year-on-year.
Forwards volumes at $107 billion per day were actually up on June by just over 10%, however there were larger falls in spot ($416 billion from $498 billion) and swaps ($1.15 trillion from $1.3 trillion). Year-on-year, forwards and swaps volumes were up at CLS. However again spot volume was lower.