SGX reports 11% jump in August derivatives volumes

SGX reported a total of 27 million contracts traded last month comprising 26.5 million futures contracts, up 11% on last August, and 0.8 million options lots, down a quarter on the same month in 2024. The exchange’s August total was also down 6.5% on a busy July.

The market operator recorded derivatives open interest (OI) up 13% on August 2024 to 6.6 million positions. Futures drove the uptick in absolute terms, with 18% year-on-year growth at 4.4 million positions in August. The exchange also reported positive OI momentum in three months ending August, citing increased volatility in the segment.

The Asian group’s average daily volume (ADV) of derivatives increased 17% to 1.3 million contracts, compared to 1.1 million in the same period last year, the data showed.

In futures, single stock volumes fell 33% on last August to 143,190 lots while index futures rose 21% year-on-year to 14.9 million contracts. Interest rate futures declined 28% compared to the same period last year and foreign exchange futures volumes were flat on last August. In OI, equity futures declined 47% year-on-year to 29,525 lots, while index futures were up 22% on last year.

In options, the SGX FX segment grew 13 times, driven by the Chinese Yuan and USD options as the exchange traded 13,542 contracts in August, compared to 949 in the same period last year. The group’s index options declined 41% year-on-year to 167,847 lots. The open interest in index options fell 29% on last August to 367,077 contracts, while FX options OI swelled five times to 18,188 lots compared to the same period last year.

The Asian group’s peer, Hong Kong Exchanges and Clearing last week reported average daily volume up 21.2% in August to a total of 1.59 million contracts.

CME and Eurex reported trading activity down in August compared to a record August last year but the US options market continued its recent strong performance.