SGX FX Derivatives Report: TWD, CNH, BRL Highlights

In what is typically a quiet July, SGX TWD/USD Full-Sized Futures broke records, driven by stronger liquidity provider engagement. As the world’s only actively traded Taiwan Dollar futures, it crossed the first $100 million DAV milestone, closed the month with US$ 129 million DAV, with open interest increasing by 63% month-to-month to US$13 million—a clear sign of growing market confidence. (Bloomberg ticker: XDWA <Curncy> CT) SGX USD/CNH FX call options were also noteworthy, with open interest in calls (5,149 lots) far outpacing puts (2,286 lots), resulting in a put/call ratio of 0.4. Implied volatility remains near historical lows, and calls are priced more attractively relative to puts. Despite a 0.72% CNH depreciation against USD, the move was milder compared to other Asian currencies. (Bloomberg ticker: XUC1 <Curncy> OMON) Meanwhile, our recently launched SGX BRL/USD Full-Sized Futures has been gaining traction. In July, it recorded US$131 million in DAV, with over 90% of trades executed during Asian hours at competitive bid-ask spreads of 5–10 bps, reflecting the demand for BRL trading outside onshore hours. (Bloomberg ticker: BRLA <Curncy> CT) 📖 Uncover more market highlights in our latest Listed FX Derivatives report by clicking on the link in the comments section! #SGX #SGXFX #FX #futures #options #CNH #TWD #BRL #INR #KRW