SINGAPORE (April 30): To hear some old-time brokers talk about the state of the local stock market, one might think that the Singapore Exchange is operating a moribund business. Yet, SGX recently reported its highest quarterly revenue since it was listed back in 2000, and its highest quarterly net profit in a decade.
For 3QFY2018 ended March 30, SGX posted a 21% y-o-y rise in net profit to S$100.5 million on a 10% y-o-y increase in revenue to S$222.2 million. Much of that strong performance was driven by SGX’s thriving derivatives business rather than traditional stock trading by the retail investors, from which remisiers used to make a good living. SGX’s revenue from derivatives increased 20.4% y-o-y to S$90.5 million, which was 40.7% of its total revenue. On the other hand, revenue from...(click on link for full story on theedgesingapore.com)