Singapore Exchange (SGX) today released its trading metrics for September 2022. The company saw a surge in derivatives trading and heightened activity in FX and commodity futures on monthly basis during the last month.
The exchange boasted a record month for FX futures. Futures traded volume on SGX FX climbed 31% compared to the previous month to 3.42 million contracts, which is an all time high for the company. The total notional traded value was in excess of US$205 billion.
For the third quarter of the year, the volume grew 32% to 8.55 million contracts.
The Singapore Exchange said in the official press release:
Market expectations for the U.S. Federal Reserve to continue raising interest rates fueled volatility on key Asian currencies including the renminbi (RMB) and Indian rupee, driving risk-management demand.
The September FX activity was led by a 36% MoM surge in SGX USD/CNH futures to 1.6 million. SGX INR/USD futures also jumped 25% MoM and 26% YoY to 1.63 million contracts.
Derivatives daily average volume (DDAV) increased to 1.05 million contracts, registering a 14% rise compared to August 2022. The exchange also achieved a single day record of 2.97 million contracts on 27 September. Total traded volume for September went up 14% compared to previous month to 22.8 million contracts.
For the three months between July and September, DDAV increased 3% YoY while the total volume gained 4%.
SGX securities market turnover came in at S$25.8 billion in September, registering a 6%MoM rise compared to the August 2022. Securities daily average value (SDAV) also was also up by 6% MoM to S$1.17 billion.
The market turnover value of structured warrants and daily leverage certificates (DLC) was up 7%MoM to S$652 million.