Singapore Exchange Reports Solid Volumes for The Third Month in a Row

The Singapore Exchange (SGX), the country’s paramount exchange operator, has released its monthly volumes across its derivatives and commodities segments for September 2021.

Aggregate FX Futures volume hit US$131 billion in September, up 8% year-over-year with open interest coming in at US$13 billion. Additionally, KRW/USD mini futures’ monthly volume soared to a record 22,793 contracts, while overall futures set a new month-end open interest record of $390 million.

Furthermore, the SGX’s daily average value of trading rose in September 2021, having yielded S$1.3 billion, up month-over-month from S$1.19 billion in August.

“China’s economy showed signs of slowing as retail sales grew significantly below the consensus level of 2.5% year-on-year (“y-o-y”). Disruptions due to COVID flare-ups, electricity crunches and uncertainties related to the regulatory crackdown on tech, education and other sectors have further weighed on the loss in momentum,” the exchange explains.

SGX’s FX segment was upbeat up for a third month in September. Total FX volumes were reported at 2.3 million contracts, indicating a rise of 15 percent from just 2 million in August. In terms of specific instruments, the volume of USD/CNH futures volumes was up 13% month-over-month and 15% year-over-year to US$92.6 billion, with month-end open interest down 17% from the month prior, but up 7% year-over-year to US$9.3 billion.

Meanwhile, INR/USD futures month-end open interest was 102,577 contracts, surging 118% year-over-year in September. The monthly turnover was up 18% month-over-month to US$35.2 billion, the exchange operator said.

In September, US$1.3 billion (or 59,063 contracts) of KRW/USD futures were traded, up 10% month-over-month and 38% on a yearly basis. Daily average volume in September 2021 was at US$71 million, up 22% month-over-month and 52% year-over-year. Month-end open interest stood at a record high of US$390 million (or 18,074 contracts), up 31% month-over-month and 90% year-over-year.

SGX-listed companies continued to tap the equity capital markets with secondary funds raised of S$377 million in September. The amount issued from 42 new bond listings on Asia’s leading marketplace stood at S$20.9 billion.

Financial markets staged a rebound in September after a seasonal lull in summer months, with low volatility and a lack of market drivers served as the primary culprit fro lower volumes.