Singapore Exchange’s (SGX) derivatives volumes were up an impressive 87% year-on-year during April, with a wave of trading on its equity and FX futures.
The fast-growing derivatives venue has seen growth in every month so far this year, however April was a standout month.
More than 14.6 million equity index futures were traded, double that of 2014, as participants upped their trading in the likes of SGX’s FTSE China A50 futures, CNX Nifty Index, MSCI India Index futures, MSCI Taiwan Index Futures, and MSCI Indonesia Index Futures.
FX futures volumes were 27 times higher than the previous year. SGX’s Indian Rupee/US dollar FX futures achieved a record single-day trading turnover of US$1 billion on 8 April.
Volume of cleared OTC SGD Interest Rate Swaps was $13.5 billion, up 118% year-on-year and almost twice the previous month.
SGX attributed this to “volatility in SGD rates arising from market expectations and the subsequent mid-month release of MAS Monetary Policy statement which maintained a modest, gradual appreciation of the local unit leading rates to fall back from recent highs”.