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Singapore Exchange First-Quarter Net Climbs 24% on Derivatives

Singapore Exchange Ltd. (SGX), operator of Southeast Asia’s biggest stock market, said first-quarter profit increased 24 percent as revenue from equities and derivatives trading improved.

Net income was S$92.3 million ($74.3 million) in the three months ended Sept. 30, compared with S$74.3 million a year ago, the company said in a statement today. Operating revenue rose 15 percent to S$184 million from a year earlier, the SGX said. Contributions from equities trading were 38 percent of total, while those for derivatives were 28 percent, it said.

“Institutional and retail participation in the securities market broadened and the global market share of our key derivatives contracts grew,” Chief Executive Officer Magnus Bocker said in the statement.

The average daily value of stocks traded on the SGX fell 2.9 percent to S$1.32 billion in the July-September quarter from a year earlier, according to data compiled by Bloomberg. Singapore’s benchmark Straits Times Index gained 0.6 percent in the three months to Sept. 30 as the Federal Reserve unexpectedly refrained from tapering monetary stimulus.

Eleven companies listed during the quarter, raising S$2 billion, compared with 10 initial public offerings that raised S$3.6 billion a year earlier, the SGX said. About S$38.8 billion was raised from new bond listings, compared with S$52.5 billion a year earlier, it added.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: Sarah McDonald at smcdonald23@bloomberg.net

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