SGX revenues up 3% in Q3

Overall revenues up 3% in the first three months of 2016, but fixed income and equities revenues suffer.

The Singapore Stock Exchange (SGX) has announced a successful third quarter in its financial calendar with overall revenues up 3% compared to the same time last year.

The exchange’s revenues totalled US$206 million in its Q3 and net profits were also up 1% at $89 million.

However, revenues for its equities and fixed income issuer services decreased by $1 million to $18.7 million, down 5% from last year’s third quarter.

SGX’s derivatives business had a successful quarter, as revenues increased 3% to $82.2 million and accounted for 40% of the venue’s total revenue.

The securities trading and clearing unit also increased its revenues by 4% to $54.8 million in the third quarter compared to the same period last year.

Market data suffered a slight decrease in sales from $9.8 million to $9.4 million, “due to one-off items”, the venue said.

SGX’s chief executive officer, Loh Boon Chye said the results reflected “growth across our three businesses” and “higher levels of market activities as market participants react and adjust to the changes in benchmark interest rates and volatile commodity prices”.

Looking to the future, Loh Boon Chye added the venue would be focusing on managing costs in a volatile environment, as SGX execute on growth strategy.