SGX Net Profit Remains Unchanged at $349m in FY2016

The exchange has announced a steady net profit for 2016 together with a 5 percent increase in operating revenue.

Singapore Exchange (SGX) today published its financial metrics, recording a net profit of $349.0 million for FY2016 which remains unchanged from the previous year.

SGX, whose financial year runs from 1 July to 30 June, also reported that its operating revenue for 2016 was up 5 percent year-on-year at $818.1 million compared with $778.5 in 2015.

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Breakdown of Results

The exchange reported that issuer services revenue had decreased 6 percent to $82.6 million due to a decline in the number of bond and equity listings. There were a total of 21 new equity and trust listings which raised $2.1 billion, compared to 34 raising $2.7 billion a year earlier.

Securities Trading & Clearing posted revenue of $205.0 million which was down 2 percent from the previous year. Securities daily average traded value (SDAV) and total traded value remained largely unchanged at $1.1 billion and $274.1 billion respectively.

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Post Trade Services reported a 13 percent increase in revenue to $118.2 million, driven by securities settlement following changes in the mix of securities settlement instructions.

Derivatives revenue was up 10 percent to $325.3 million, accounting for 40 percent of total revenue. Equity and commodities revenue grew 8 percent while collateral management, licence, membership and other revenue grew 17 percent.

Continued growth across the majority of the derivatives contracts led to overall volumes increasing 14 percent to 183.1 million contracts.  Average month-end open interest for equities and commodities derivatives increased 12 percent year-on-year.

Consistent Performance

Commenting on the results, Loh Boon Chye, Chief Executive Officer of SGX, said: “We delivered consistent performance under volatile market conditions this past year. As we executed our strategy, we have been disciplined in managing expenditure while making the investments needed to grow our businesses… we will continue to invest to grow our business and to be more competitive.”

 

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