General Announcement::News Release: SGX retains top honours at FX Markets Asia Awards

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
16-Apr-2025 17:18:49
Status
New
Announcement Sub Title
News Release: SGX retains top honours at FX Markets Asia Awards
Announcement Reference
SG250416OTHR5SKL
Submitted By (Co./ Ind. Name)
Chin May Nah
Designation
Executive Director, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
- Rapid volume growth in listed FX derivatives, along with new market participants, reinforces positioning as go-to venue particularly in times of market volatility

Singapore Exchange (SGX) has once again been recognised as the "Best Asia FX Derivatives Exchange" at the FX Markets Asia Awards, marking its eighth consecutive win since the award's inception. This recognition underscores SGX's leadership and unwavering commitment to innovation and excellence in the FX derivatives market.

As the world's largest and most liquid Asian FX futures exchange, SGX achieved record FX futures volume of US$4.1 trillion in 2024, a 40% year-on-year (y-o-y) growth. In the first quarter of 2025, FX futures volume increased 45% y-o-y, hitting a new high of US$1.2 trillion, while daily average volume (DAV) was up 47% y-o-y, reaching a milestone of US$20.3 billion.

KC Lam, Global Head of FX and Rates, SGX Group, said, "Global investors are increasingly using our FX futures for price discovery and as effective and cost-efficient hedging instruments to manage heightened market and currency volatility. The deep liquidity of our FX futures continues to attract new market participants. Our SGX USD/CNH FX Futures - the world's most liquid international renminbi futures contract with about 40% of volumes traded during U.S. and European time zones - have become an important source of liquidity and pricing reference point for global investors."

SGX's flagship USD/CNH futures and INR/USD futures have become the second and eighth most-traded FX futures contracts globally by DAV in the first quarter of 2025.

Over the past year, SGX improved its FX derivatives market structure based on market feedback, including implementing a new final settlement price (FSP) reference rate for SGX USD/CNH futures to reduce basis risk for customers, and enhancing the precision of FSP computation for SGX INR/USD futures.

SGX's derivatives marketplace offers the longest trading hours and greatest number of trading days in Asia, providing deep, round-the-clock liquidity and efficient capital usage. This maximises market access across Asian, European and U.S. trading hours, which is critical for global investors reacting to overnight risk events.

Attachments

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