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. SGX INR/USD is SGX’s most actively traded FX futures contract, and recent volume growth has extended SGX’s 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. This represents a total of $2.59 billion traded.

Michael Syn, head of derivatives at SGX, says, “We have seen a growing pool of market participants with multi-asset exposure to China and India, and subsequent increase in demand for tools to manage related currency risk. This FX volume growth is a validation of our cross-asset risk management strategy and our success in delivering margin offset efficiencies to users across the broad range of products we offer. We are particularly pleased to see a growing number of iron ore futures users hedging their FX exposures on our platform.”

Colin Lambert

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