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SGX net profit grows by 9% to $348.6m in 2015
They remain optimistic despite economic headwinds ahead.
A year of increased spending did not deter SGX’s profit to grow by 9% to $348.6m from the previous year, thanks to an improving stock market quality and a record year for the derivatives business.
“Expenses increased 20% over the year to $376.7 million primarily due to increased staff, technology and processing and royalties associated with the growth in derivatives traded volumes. Excluding EMC expenses of $15.7 million, expenses increased 15,” a report from SGX said.
“The Derivatives business had another record year with revenue up $87.0 million or 42% to $295.7 million. Total volumes increased 55% over the year to 161.2 million contracts, reaffirming SGX’s role as a leading Asian risk management centre and clearing house,” the report added.
The investment conglomerate plans to continue in investing on their platform as they expect the volatility of global economy to be roadblocks for the Securities market.
“Uncertainties in the Chinese market could influence our Derivatives trading volumes, and increasing competition from global exchanges will affect our financial results over time,” the report said.
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