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

Share This

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on reddit

Related Posts in