SINGAPORE (July 3): The Singapore stock market was not the only market to see a spike in trading volume and value as the Covid-19 pandemic took the world by storm. The local derivatives market, too, experienced a similar situation.

According to statistics from the Singapore Exchange (SGX), the number of its derivatives contracts traded grew from 19.5 million contracts in January to 23.9 million contracts in February. The figure jumped to 32.9 million contracts in March. Compared to the same periods a year ago, all three months recorded a higher number of contracts traded.

Besides SGX, there are a handful of smaller derivatives exchanges with operations here. The Asia Pacific Exchange, backed by Chinese investors, did not provide figures for the first three months of the year. However, it notes that new clients have come on board recently to hedge their risks against the market volatility.

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