SGX derivatives volume jumps 15% YoY to 23.5 million in July

It also hits an all-time high in futures volume.

The Singapore Exchange (SGX Group) saw its derivatives traded volume jump to 23.5 million contracts in July 2024, translating to a 15% YoY increase.

SGX credited its gains to rising activity across its marketplaces, with global investors managing portfolio risks in response to multiple economic and political developments during a month of volatility.

In the same month, the bourse hit an all-time high for its total futures traded volume, climbing 44% YoY in July to 4.8 million contracts.

SGX USD/CNH FX Futures led the increase, with volume up 40% YoY at 2.9 million contracts. SGX INR/USD FX Futures volume also increase, rising 48% YoY to 1.6 million contracts

“Anticipation of rate decisions by the BOJ and the Federal Reserve, as well as uncertainties over the U.S. presidential elections, fuelled volatility and bolstered portfolio hedging,” SGX reported.

Within commodity derivatives, the increase was driven by bellwether iron ore derivatives, which recorded a 22% YoY increase.

In July, commodity derivatives traded volume rose 20% YoY to 5.1 million contracts.

Meanwhile, the securities daily average value (SDAV) rose by 13% YoY and 4% MoM in July to $1.2b amidst declines across Southeast Asia, fueled by increased retail activity in stock segments.

The Straits Times Index (STI) also advanced 3.7% MoM to 3,455.94, outperforming ASEAN and Developed Asia counterparts, with year-to-date returns of 6.7%.

In July, Singapore's stock market was also the second most actively traded in Southeast Asia, with a total securities market turnover value up 23% YoY and 26% MoM to $26.5b.

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