SGX Group sets record commodity derivatives in November

2 months ago 73

Staff Reporter

, Singapore

Photo from CGS-CIMB

Commodity derivatives volume jumped 48% YoY to 5.4 million contracts.

The Singapore Exchange (SGX Group) saw its commodity derivatives volume jump to a new record high of 5.4 million contracts in November, a 48% YoY jump.   SGX observed an “increasing participation in commodity products that provide exposure to Asia and global trade.”

In the same month, SGX Commodities’ flagship iron ore derivatives suite recorded its second-highest monthly volume ever.

The bourse attributed the good performance of its  iron ore derivatives to “higher risk management activity amidst rising iron ore prices from China’s robust demand, as well as growing financial participation as iron ore continues to gain importance and recognition as a proxy to China’s economic growth.”

Meanwhile, SGX Commodities' forward freight agreement (FFA) derivatives volume achieved a new single-day record during November and a new monthly record of 294,074 contracts, an 89% YoY jump.

Another record SGX broke in November was the volume of Singapore Commodity Exchange (SICOM) rubber futures, which increased 34% YoY to 295,561 contracts.  

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