FX volumes shine at Singapore Exchange in June

abdelaziz Fathi

The Singapore Exchange (SGX) notched a healthy gain in its FX and indices volumes, rounding off a robust half-year as sustained volatility drove institutional demand for portfolio risk management.

As June was yet another month characterized by higher volatility, SGX’s derivatives trading volume rose to a 3-month high amid macro uncertainties. The ongoing Russia-Ukraine conflict drove hedging activity with derivatives monthly volume being reported at 23.5 million contracts in June, up 24% year-on-year.

In the first half, a period where participants were challenged by severe market conditions, volume was up 13% from July-December 2021 at 116.7 million contracts, with derivatives daily average volume (DDAV) rising 18%.

Foreign exchange (FX) derivatives also stood out in June, with total futures traded volume rising 21% YoY to 2.9 million contracts. The volume of SGX USD/CNH Futures climbed 59% YoY to 1.5 million, reinforcing the contract’s position as the world’s most widely traded international RMB futures.

For January-June 2022, total FX futures volume gained 26% over the previous half-year to 15.9 million contracts, or a 31% increase to US$943.05 billion.

Fixed income volumes consolidate

In a similar vein, commodity derivatives volume rose 32% YoY in June to 2.9 million contracts. Taking a year-to-date perspective, volumes were up 15% in the first half compared with the H2 2021 at 16.2 million contracts. Demonstrating close alignment with macro developments, the SGX’s commodities offering enables market participants to express their views and manage risk efficiently.

On SGX Fixed Income, Asia’s leading international bond marketplace, the amount issued from 120 new bond listings was S$33.2 billion, bringing the January-June 2022 total to S$220.2 billion, up 5% over the prior half-year.

Securities market turnover value stood at S$25.6 billion in June, lifting turnover for the six months through June 2022 to S$170 billion, up 13% over July-December 2021. Securities daily average value (SDAV) was about S$1.17 billion for the month, bringing the half-year tally 19% higher at S$1.39 billion.

With geopolitical uncertainty, elevated inflation and recession concerns a common theme across Asian markets, SGX Group continues to provide global investors with a highly liquid toolkit to manage risk over multiple asset classes.

Read this next

Digital Assets

Talos acquired Cloudwall for a better portfolio management system

Cloudwall’s additional expertise in portfolio risk systems further positions Talos at the forefront of portfolio management systems across spot, futures, perps, and options.

Digital Assets

Bybit’s Bitcoin market share explodes, up by 400%

“This milestone is a testament to our sharp trading products and the loyalty of our users. As the industry evolves, Bybit remains at the forefront, ready to set new standards in the crypto trading world.”

Crypto Insider

Why Self-Custody is the Key to Secure Crypto Trading

Crypto trading is fast gaining popularity; as of writing, the total market capitalization stands at $2.3 trillion, double what it was at the onset of the 2021 bull market.

Industry News

UK FCA sues Lee Steven Maggs for FX scam Kube Trading

‘Kube Trading’ allegedly received around £2.67 million for FX trading and concealed significant losses from investors.

Market News

AUD/USD Soars Following Inflation Report

Australia’s CPI surge hints at prolonged tight monetary policy. Watch the Aussie dollar as US economic data looms.

Institutional FX

GCEX reports drop in turnover in 2023 due to crypto winter

“The crypto winter had a huge impact across the industry, and GCEX was no exception. However, in response to the decline in revenue, we have been resilient and adaptive, navigating our costs effectively and diversifying revenue streams such as introducing staking services for institutional and professional clients.”

Institutional FX

FxGrow taps Integral’s SaaS brokerage workflow

“FxGrow’s decision to partner with us is indicative of the growing advantage for brokers to leverage tier-one institutional-grade technology while maintaining control over their own platform. Integral is well-positioned to provide the SaaS solutions that will enable these businesses to better compete in the market.”


FBS Financial Market Analysts Forecast Gold Prices to Rise to $2,800

FBS, a leading global broker that has recently launched an upgraded FBS app, projects gold price surge to $2,800 per ounce by the close of 2024.

Market News

Adapting to Global Economic Shifts Japan’s Monetary Policy in Focus

Amidst the evolving landscape of global economics, Japan’s monetary policy stands as a testament to adaptability and strategic foresight. The Bank of Japan (BoJ) has embarked on a nuanced approach to maintain stability while navigating the complexities of a changing financial environment.