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SGX's net profit inches up 1% to $89m in Q3
Market volatility was a boon.
The Singapore Exchange reported that its net profit rose 1% year-on-year to $89 million in the third quarter, on back of increased market activity during the period.
The market regulator's revenue rose 3% year-on-year to $206 million, driven by higher earnings from its three key business lines.
“Our results this quarter showed growth across our three business lines of Equities and Fixed Income, Derivatives and Market Data and Connectivity. This reflected higher levels of market activities as market participants react and adjust to the changes in benchmark interest rates and volatile commodity prices,” said Loh Boon Chye, CEO of SGX.
Operating profit was flat at $103 million, while earnings per share stood at 8.3 cents. SGX declared an interim dividend of 5 cents.
"We will focus on managing costs, against the backdrop of increasing competition and volatile global market conditions. We expect FY2016 operating expenses to come in at the lower end of our previously announced guidance of between $415 million and $425 million," Loh added.
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