The Singapore Exchange (SGX) saw a 505% increase freight derivatives traded in 2015 to take over a 30% global market share by December.

Full year freight derivative volumes on SGX in 2015 totalled 278,393 contracts, a 505% increase over the previous year.

SGX said it started 2015 with just a 4% share of freight derivatives market, but this soared to over a 30% share by December last year.

“This was a reflection of two things – huge industry support, and continued acquisition of new customers as we work to increase the pool of freight liquidity to the benefit of all our customers,” it said.