SGX Group's November Report Reveals 25% Surge in FX Futures Volume

<p>The Singapore Exchange (SGX Group) has unveiled its
market statistics for November 2023, highlighting high volumes in commodities,
FX, and REITs. This latest report disclosed a shift in investors' sentiment across
various sectors. </p><p>The derivatives market led the charge with a surge
of 8% month-on-month, trading 22.4 million contracts. Notably, SGX FX
witnessed a boost of 25% in FX futures volume, hitting over 4 million
contracts. SGX USD/CNH Futures, a key international RMB futures
contract, surged by 33% year-on-year (YoY), reaching 2.7 million contracts. The
appreciation of the RMB spurred this growth, especially as exporters engaged in
year-end FX conversions. </p><p>Similarly, SGX INR/USD Futures, among the top 10
traded listed FX futures globally, saw an increase of 13% month-on-month increase,
trading 1.1 million contracts.</p><p>Expect ongoing updates as this story evolves…</p>

This article was written by Jared Kirui at www.financemagnates.com.