General Announcement::News Release: SGX hits record volumes in FX futures

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Sep-2017 17:15:46
Status
New
Announcement Sub Title
News Release: SGX hits record volumes in FX futures
Announcement Reference
SG170926OTHRKBGQ
Submitted By (Co./ Ind. Name)
Jo-Ann
Designation
Senior Associate
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) announced a daily volume record for its SGX INR/USD futures contract, with a total of 108,417 contracts traded on 22 September 2017, translating to a notional value of USD 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 also recorded its highest ever daily volume for SGX USD/CNH on 8 September 2017, with 25,857 contracts traded. This represents a total of USD 2.59 billion traded, reaffirming SGX USD/CNH as the most traded listed offshore RMB futures contract in the world.

Michael Syn, Head of Derivatives at SGX, said, "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."

SGX offers participants the ability to clear equity, FX and commodity futures on the same platform and margin offset capital efficiencies. Volume growth in SGX USD/CNH futures has also been supported by recent landmark developments that have showcased the renminbi's growing status as an international currency, while demand for rupee has been supported by interest in India-related investment and recent currency movements.

Attachments

20170926_SGX_hits_record_volumes_in_FX_futures.pdf
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