Singapore Exchange Reports Strong Financial Results in H1 FY21

The exchange reported S$228 million ($171 million) net profit in H1 of FY21, up 7% year-on-year.

Singapore Exchange (SGX) reported financial results for H1 of FY21 today as revenue and net profit spiked in the last half, compared to the same period in 2020. The exchange recorded S$521 million revenue in H1 of FY21, a 9% year-on-year jump.

According to the official press release, the net profit of SGX jumped 7% in H1 of FY21 to reach S$228 million. Interim quarterly dividend per share stood at 8 cents. The announced dividend will be payable on 8 February 2021.

The performance of currencies and commodities derivatives remained exceptional as their revenue increased 18% to S$92.5 million. The overall equity revenues including equities cash and equities derivatives jumped 3% to S$350.8 million in H1 of FY21.

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Commenting on the latest financial results, Loh Boon Chye, Chief Executive Officer of SGX, said: “We had a solid first-half performance with growth across all three business segments, amid an uncertain global environment. The heightened demand for China access and risk-management solutions, coupled with the early success of our expanded pan-Asia derivative product suite and higher trading activity in our stock market, led to stronger performance in our Equities business. We have also grown our FICC and DCI pillars which now contribute a third of our revenues, bolstered by newly acquired BidFX and Scientific Beta.”

SGX’s Financial Performance

Finance Magnates earlier reported about strong financial numbers posted by the SGX in December 2020. The exchange reported an 11% jump in USD/CHN futures contracts due to growing demand. In the latest report, SGX’s adjusted earnings per share stood at 21.3 cents, compared to 20 cents in H1 of FY20.

“Strengthening our sustainability capabilities and solutions is a key priority, together with the building up of our digital assets expertise. Today, we announced our partnership with Temasek Holdings to build a digital asset infrastructure focused on capital markets workflows. In the coming months, we will expand our fixed income trading capabilities and make further investments to enhance our FX platform,” Loh added.

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