Despite uncertain market conditions, Hong Kong's key bourse reported overall revenue held up comparatively well against Q1 2015.
Stock Exchange group, Hong Kong Exchanges and Clearing Limited (HKEX), has announced its Q1 2016 financial metrics ending 31st March. The results reflect generally subdued market conditions, both locally and globally, highlighted in overall trading activity and the group’s overall revenue which fell marginally below that achieved in Q1 2015.
Revenue for Q1 2016 was $2,530 million, slightly lower than $2,604 million in Q1 2015 or a 2.8 percent fall. The numbers benefited from an exceptional gain on the sale of the group’s investment in LCH.Clearnet Group Limited.
One of the key drivers of the group’s revenue during the quarter was subdued activity on the Cash Market in Hong Kong and Commodities Market in the United Kingdom (UK). These returned to levels similar to Q4 2015 which were 16 percent and 9 percent respectively below Q1 2015.
In addition, significantly increased trading of derivatives contracts on the Hong Kong Futures Exchange Limited, at levels that were higher than both the previous quarter and Q1 2015 positively impacted on revenue.
Operating Expenses
Operating expenses for Q1 2016 were $854 million, reflecting an increase of 19 percent against $718 million in Q1 2015. The increase primarily reflected the cost of additional headcount and higher legal and professional fees incurred to support strategic initiatives in Q1 2016. The comparison of operating expenses with the previous year is distorted by a one-off recovery of $77 million from the liquidators of Lehman Brothers Securities Asia Limited (Lehman) which reduced the Q1 2015 operating expenses.
EBITDA
EBITDA of $1,897 million for Q1 2016 decreased 9 percent from $2,078 in Q1 2015. The EBITDA margin of 69 percent was 5 percent lower than Q1 2015 and 6 percent lower than the 75 per cent achieved for the year ended 31st December 2015.
Profit attributable to shareholders decreased by 9 percent to $1,432 million in line with EBITDA.
Overview
The board of directors has commented that despite the difficult conditions experienced in the various markets in which the group operates, overall revenue and other income has held up comparatively well, being broadly in line with Q1 2015.
In response to continued uncertainty in market conditions the group is adopting a prudent approach to expenditure control as it moves into Q2 2016. While it continues to move forward with strategic initiatives, a more cautious approach is being taken to the timing of less critical projects as a means to manage capital expenditure while facilitating a more modest increase in headcount during 2016.
Stock Exchange group, Hong Kong Exchanges and Clearing Limited (HKEX), has announced its Q1 2016 financial metrics ending 31st March. The results reflect generally subdued market conditions, both locally and globally, highlighted in overall trading activity and the group’s overall revenue which fell marginally below that achieved in Q1 2015.
Revenue for Q1 2016 was $2,530 million, slightly lower than $2,604 million in Q1 2015 or a 2.8 percent fall. The numbers benefited from an exceptional gain on the sale of the group’s investment in LCH.Clearnet Group Limited.
One of the key drivers of the group’s revenue during the quarter was subdued activity on the Cash Market in Hong Kong and Commodities Market in the United Kingdom (UK). These returned to levels similar to Q4 2015 which were 16 percent and 9 percent respectively below Q1 2015.
In addition, significantly increased trading of derivatives contracts on the Hong Kong Futures Exchange Limited, at levels that were higher than both the previous quarter and Q1 2015 positively impacted on revenue.
Operating Expenses
Operating expenses for Q1 2016 were $854 million, reflecting an increase of 19 percent against $718 million in Q1 2015. The increase primarily reflected the cost of additional headcount and higher legal and professional fees incurred to support strategic initiatives in Q1 2016. The comparison of operating expenses with the previous year is distorted by a one-off recovery of $77 million from the liquidators of Lehman Brothers Securities Asia Limited (Lehman) which reduced the Q1 2015 operating expenses.
EBITDA
EBITDA of $1,897 million for Q1 2016 decreased 9 percent from $2,078 in Q1 2015. The EBITDA margin of 69 percent was 5 percent lower than Q1 2015 and 6 percent lower than the 75 per cent achieved for the year ended 31st December 2015.
Profit attributable to shareholders decreased by 9 percent to $1,432 million in line with EBITDA.
Overview
The board of directors has commented that despite the difficult conditions experienced in the various markets in which the group operates, overall revenue and other income has held up comparatively well, being broadly in line with Q1 2015.
In response to continued uncertainty in market conditions the group is adopting a prudent approach to expenditure control as it moves into Q2 2016. While it continues to move forward with strategic initiatives, a more cautious approach is being taken to the timing of less critical projects as a means to manage capital expenditure while facilitating a more modest increase in headcount during 2016.
FX Volatility Impacts Q1 Revenue of Compagnie Financière Tradition
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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