SGX net profit up 16 pct in Q2 of FY2015

The net profit of Singapore Exchange (SGX) increased 16 percent to 86.6 million Singapore dollars on a year-on-year basis in the second quarter of financial year 2015 (FY2015), SGX said on Wednesday.

Total revenue grew 19 percent to 195.1 million Singapore dollars. Excluding revenue of the newly-acquired Energy Market Company Limited (EMC), revenue grew 15 percent, SGX said.

Securities revenue decreased one percent to 51.7 million Singapore dollars in the second quarter amid the growth in most of the other businesses.

"Total securities revenue declined slightly as the three percent increase in total traded value was offset by a four percent drop in average clearing fee," said Magnus Bocker, CEO of SGX.

Derivatives revenue increased dramatically by 46 percent, driven by the continued strong performances of FTSE China A50 futures and Iron Ore products.

A total of 14 new listings in the second quarter raised 0.7 billion Singapore dollars, compared with 9 new listings raising 1. 4 billion Singapore dollars a year earlier.

A total of 131 new bond listings raised 47.5 billion Singapore dollars, compared to 144 listings raising 33.7 billion Singapore dollars a year earlier.

Looking ahead, SGX expects the demand for Asian trading and clearing services to grow.

"We remain committed to our long-term growth strategy. We have accelerated capital investments in our Derivatives and Fixed Income businesses. These are in addition to on-going investments including a new generation post trade system for our Securities business," Bocker said. (1 U.S. dollar equals to 1.33 Singapore dollars) Endi