ibusinesslines.com March 20, 2018

SGX's Q3 profit falls 6.8% to S$83.1 million amid derivatives slump

20 April 2017, 06:15 | Kelvin Horton

SGX's Q3 profit falls 6.8% to S$83.1 million amid derivatives slump

SGX's Q3 profit falls 6.8% to S$83.1 million amid derivatives slump

In terms of the group's Q3 FY2017 net profit, SGX yielded a figure of $83.1 million, falling -5.8 percent on a quarter-over-quarter basis from $88.3 million in Q2 FY2017.

Excluding a one-off loss of S$4 million from the disposal of its investment in the Bombay Stock Exchange, net profit would have been S$87 million - still 2 per cent lower than that a year ago.

Operating revenue fell 1.5% to S$202.7 million in 3Q17, from S$205.8 million in the corresponding period past year.

Singapore Exchange (SGX), the country's paramount exchange operator, encompassing the previous three-month period at the exchange - the latest metrics incurred a slight decline relative to the year prior, largely impacted by volatility, per a group filing.

Expenses fell 3% to S$99.7 million, mainly due to lower volume related processing and royalties and professional fees. Revenue from its market data and connectivity business jumped 13 per cent to S$24.4 million. Continued positive momentum in the equities market following the US Presidential Election last November contributed to the higher level of trading activity, with increased participation from both retail and institutional customers. SGX is maintaining its quarterly dividend payout of five Singapore cents per share.

Loh said that although sentiment had improved, positive outcomes on US economic policies will be important to sustain trading activities.

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