Open interest in FX futures grows in Singapore

SGX reports record FX futures volume for the quarter, with USD/CNH and INR/USD driving activity

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Trading in foreign exchange futures on the Singapore Exchange (SGX) notched a new high in the first quarter, as open interest in the Chinese yuan and the Indian rupee rose in response to geopolitical developments.

FX futures volume was logged at $290 billion, or 5.35 million contracts, for the first three months of 2019, the SGX said in its monthly newsletter. That was a record for any quarter in the exchange’s history.

For March alone, volume was $99.6 billion notional, compared with $54

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