The amount of derivatives trading and clearing happening on the Singapore Exchange rose in October from the same month in 2012, the Asian bourse stated on Nov. 4.
One item of news that was notable was that the open interest in these risk management tools was 62 percent higher at the end of October when compared to the same time last year. At the conclusion of the fall month, there were 3.7 million of these contracts. On Oct. 29, a record amount of 3.8 million contracts were open. Overall derivatives trading volume rose as well, surging to 8.5 million in October, which represented a spike of 20 percent from the same time in 2012.
The Asian bourse also noted that its clearing of many different types of contracts rose in October. In addition, there was a surge in certain types of this activity. More than 25,000 iron ore futures were processed in this manner during the month. The figure was 14 times as high as it was in September.
Late last month, SGX contacted the U.S. Commodity Futures Trading Commission in an effort to have its clearing house SGX Derivatives Clearing process the trades made by clients based in the United States. If this request is approved, the Asian bourse could end up experiencing a surge in its clearing activity.