Derivatives DAV in SGX Soared to 1.06 Million Contracts in February

2.5 million contracts were traded on SGX in February, up 36% y-o-y.

SGX USD/CNH Futures traded volume increased 15% y-o-y in February.

Moreover, the Ukraine-Russia crisis added volatility to the derivatives‘ volumes across the board, adding to challenges facing commodity markets and supply chains worldwide. As a result, the SGX’s derivatives daily average volume (DAV) reached 1.06 million contracts in February, the highest since March 2020. On a year-over-year (y-o-y) basis, derivatives traded volume grew 5% to 18.6 million contracts.

Also, SGX Nifty 50 Index Futures volume increased 33% year-over-year, contributing to a 5% increase in equity index futures volume. A 10% increase in traded volume of the MSCI Singapore Index Futures was recorded last year, while a 4% increase in traded volume of the Nikkei 225 Index Futures was recorded.

Forex Figures on SGX

In forex , open interest on SGX USD/CNH Futures hit a record US$12.4 billion in February, with volume growing by 15% year-over-year to 823,524 contracts. With risk aversion on the rise, offshore RMB or CNH is increasingly used as a safe-haven currency, and the SGX contract is the worlds most traded CNH futures contract.

The total volume of FX futures traded on the Singapore Exchange was US$107.8 billion, with open interest at US$13.9 billion, up 56% year-on-year. In February, the average daily value of SGX securities rose 36% month-over-month (m-o-m) to S$1.6 billion, the highest since March 2021. Securities market turnover grew 16% month-over-month to S$29.6 billion. The top performers, as well as most active stocks during the month, were Rex International Holding Ltd. and Samudera Shipping Line Ltd.

Straits Times Index (STI) fell 0.2% in February to 3,242.24. Although it returned 4% over the first two months of 2022, it plummeted 4.5% less than the FTSE ASEAN All-Share Index, 4.5% less than the FTSE Asia Pacific Index, and 6.6% less than the FTSE All-World Index.

In January, the trading volumes on SGX rose by +3% month-on-month to 20 million contracts (approx), the largest amount since September 2021.