SGX Hits Another Peak as and LCH and 360T Also Report FX Data

Singapore Exchange (SGX) says it has hit another record in its FX futures and options product suite, handling just over 4.2 million contracts per day for a notional value of just under $12 billion per day.

Within this, CNH futures again continued to gain ground, SGX handling 2.76 million contracts per day, representing an 18% rise from July and 134% year-on-year. Trading in INR was also up, to 1.18 million contracts per day, an 11.1% rise from July, but down 9% year-on-year.

LSEG’s ForexClear cleared $236 billion-worth of FX options in August, the fourth consecutive month it has set a new peak, however on an average daily value basis activity dropped very slightly to $10.5 billion from $10.3 billion. It is up 131% year-on-year, however.

Client NDF ADV cleared was $2.9 billion, up 52% year-on-year, $67 billion was cleared in total. This is also slightly below July and June levels and largely reflects the wider slowdown in activity reported elsewhere by platforms for August.

Deutsche Börse’s 360T, meanwhile, says it handled EUR 117.1 billion in all FX products in August. This is slightly higher than both July’s EUR 116.4 billion and August 2022’s 116.5 billion. Earlier this month 360T reported a month-on-month decline and a year-on-year increase in both spot FX and NDF activity, using a constant exchange rate, non-spot volumes rose by 3.7% compared to July, but was down 1.9% year-on-year.