Trading in SGX forex futures, commodities hit record highs in Dec

Trading activity in Singapore Exchange (SGX) currency futures and commodities spiked to record highs in December, the bourse said yesterday.

Total foreign exchange futures volume rose 18 per cent year on year to 2.07 million contracts.

There were big increases in contracts for the Singdollar related to the United States dollar and Chinese yuan. These rose 20 per cent to about 787,000 contracts from December 2018.

Singdollar futures contracts linked to the Indian rupee and US dollar jumped 18 per cent year on year to 1.25 million during the month.

The move by the US and China towards a phase one trade deal boosted trading in commodities, including iron ore.

Total iron ore derivatives cleared on the SGX surged 29 per cent to 139.1 million tonnes in December from a year earlier, lifting the full-year tally to a record of almost two billion tonnes.

"Asia's stock markets received positive news on several fronts in December, including the easing of US-China trade tensions, a UK election result seen to eliminate the risk of a hard Brexit, as well as the Federal Reserve reaffirming its dovish stance on interest rates heading into 2020," the SGX said.

Total securities market turnover value in Singapore rose 20 per cent year on year to $20.2 billion.


A version of this article appeared in the print edition of The Straits Times on January 11, 2020, with the headline 'Trading in SGX forex futures, commodities hit record highs in Dec'. Subscribe