SGX
SGX has hired Elena Patimova in London as director, equities and FICC. In this role she will be responsible for sales and business development for SGX’s suite of derivatives contracts in Europe, covering hedge funds, CTAs, proprietary trading companies, banks and FCMs. Prior to joining SGX, Patimova was a senior vice president, business development at […]
Hong Kong Exchanges and Clearing (HKEX) has announced it will launch Indian rupee (INR) currency futures in the fourth quarter of this year. The exchange it plans to introduce two new contracts: the INR vs US Dollar (INR/USD) futures; and the INR vs Renminbi traded in Hong Kong (INR/CNH) futures, adding the INR/CNH Futures contract […]
Having recorded a new record high trading volume of $7.5 billion notional in its USD/CNH futures on Friday, August 2, SGX saw a 38% increase in volumes as trading resumed on Monday, August 5. The initial surge in trading was precipitated by a tweet from US president, Donald Trump, that his administration plans to impose […]
Singapore Exchange (SGX) has unveiled a new management organisation that the group says “capitalises on its strength as an international multi-asset exchange, to pursue growth opportunities and build scale in multiple asset classes”. With effect from July 1, four business and client units have been created to report to SGX CEO Loh Boon Chye – […]
Trading volumes on SGX’s FX futures hit an all-time in May, with $111.5 billion in notional value and over 1.84 million aggregate contracts traded. Year-on-year, May’s volumes represent a 49% growth in notional value and a 10% growth in aggregate contracts. SGX also saw a record for single day trading volume this month, with more […]
Bid FX recently announced that Singapore Exchange (SGX) has bought a 20% stake in the company, with an option to acquire a controlling interest. The firm’s CEO, Jean-Philippe Male, talks to Profit & Loss about the rationale behind the deal, and some of the structural trends that he sees shaping the FX market. Profit & […]
Singapore Exchange (SGX), has acquired a 20% stake in BidFX, including an option for additional shares to gain a controlling interest, for a total cash consideration of $25 million.BidFX was spun off as a division of TradingScreen (TS), a provider of a multi-asset execution and order management systems, in January 2017. It offers a cloud-based, front-end trading platform aimed at helping hedge funds, traditional asset managers and regional banks trade, improve access to liquidity, generate alpha and simplify workflows. Its liquidity aggregation platform supports FX spot, swaps and forwards for G10 and Asian currencies.SGX says that the investment is part of its strategy to build core pillars of growth across multiple asset classes, while BidFX indicates that it plans to utilise the funds to further grow its reach and offering among institutional investors.
Trading on SGX’s FX futures hit an all-time in January, with $105 billion in notional value and 1.87 million in aggregate contracts traded. Year-on-year, this represents a 60% growth in terms of notional value and a 30% growth in the volume of contracts traded. Average daily volume (ADV) of contracts traded last month grew to approximately 85,000 contracts from 68,000 in January 2018, while the notional ADV traded per day grew to $4.8 billion in January 2019, up from $3.1 billion the same month the previous year.
Trading on SGX’s FX Futures more than doubled to $914 billion in 2018 as the exchange saw a record monthly volume of $96 billion traded in December.In aggregate, 1.76 million FX futures contracts were traded on SGX in December, up 87% from the same month in 2017. Meanwhile, the notional volume of $96 billion traded on the platform was a 122% year-on-year increase.“The robust annual growth is strong evidence of the role SGX plays as a key risk management venue for market participants as they manage their Asian currency risk exposure,” says the exchange group in its monthly newsletter.
Singapore Exchange (SGX) has successfully completed the first USD/CNH Flexible FX futures trade.The transaction involved Bank of China (Singapore) and ICBC (Singapore) executing two CNH FlexC FX futurised swap trades on SGX. A total notional value of $8 million changed hands.“The transaction marks a major step forward in bringing together the listed and OTC markets in FX. With global regulatory initiatives such as Basel III and MIFID II coming into play, financial institutions are facing an increasing burden of capital requirements that include Leverage Ratio, Liquidity Coverage Ratio and Counterparty Credit Risk charges, as well as Uncleared Margin Rules (UMR) for OTC derivatives.
