FICC Revenue of SGX Increases 24% in FY21

The exchange reported a net profit of S$447 million in FY21.

Singapore Exchange (SGX) released its financial numbers for FY2021 today and reported a strong jump in FICC revenues. Overall, the exchange posted a marginal drop in net profit.

According to a press release shared with Finance Magnates, SGX reported total revenues of S$1,056.0 million in FY21, compared to S$1,052.7 million in FY20. SGX saw FICC revenues of S$211.8 million in FY21, which is 24% higher compared to FY20.

In terms of expenses, the total number increased 8% to S$525.2 million. Adjusted EBITDA stood at S$623.9 million while adjusted earnings per share were 41.8 cents during the mentioned period.

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Commenting on the latest results, Loh Boon Chye, Chief Executive Officer of SGX, said: “We achieved a strong performance as we invested in growing our business, delivering similar record revenues compared to last year amidst a challenging environment. Notwithstanding the lower treasury income, our core business segments remained robust, with our fast-growing subsidiaries, Scientific Beta and BidFX, providing an added boost. While the low-interest-rate environment will continue to impact our treasury income, we believe it will also spur demand for our multi-asset offerings as investors seek enhanced returns.”

Since the start of 2021, Singapore Exchange has posted strong growth in FX Volumes. In June 2021, the exchange reported a surge in demand for SGX INR/USD futures and SGX USD/SGD futures.

FICC Revenue

The FICC revenue of SGX accounted for nearly 20% of the total revenue in FY21, compared to 16% in FY20. “FICC revenue, comprising Fixed Income as well as Currencies and Commodities, Derivatives revenues, increased 24% to S$211.8 million (S$171.4 million), accounting for 20% (16%) of total revenue. Excluding BidFX, which was acquired in July 2020, FICC revenue would be comparable at S$172.1 million (S$171.4 million). Fixed Income revenue rose by 17% to S$14.9 million (S$12.8 million). Listing revenue: S$11.5 million, up 22% from S$9.4 million. Corporate actions and other revenue: S$3.4 million,” SGX added.

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