Singapore Exchange SGX Publishes Q2, FY19 Financial Report Showing Strong Growth During the Period

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.

Singapore Exchange Publishes Q2, FY19 Financial Report Showing Strong Growth During the Period

January 25, 2019

sgxSingapore Exchange (SGX) has today reported financial of its second quarter 2019 fiscal, showing a positive and solid growth during the quarter, with a steady year-on-year increase. 

Revenue during the quarter came in at S$224.1 million, representing an increase of 9 per cent year-on-year when compared to revenue of S$205 million in Q2, 2018. The net profits for the exchange increased to S$96.5 million (around $62.8 million) during the quarter, which is 8.4 per cent higher compared to S$88.4 million profit in Q2, FY2018. 

The operating profits also managed to increase by 10 per cent on an annual basis to S$113.7 million in fiscal 2019 compared to S$103 million in Q2 of fiscal 2018. Further breaking up the financials, the equities and fixed income revenue fell by almost 12 per cent to S$85.6 million and accounted for almost 30 per cent of the revenue. The Securities trading and clearing revenue also decreased on a yearly basis, falling by 13 per cent from S$51.8 million in Q2 2018 to S$45.2 million. This accounted for almost 20 per cent of the total revenue.

During the quarter, the daily securities trading volume declined by 14 per cent to S$0.98 billion and total trading fell by 12 per cent, coming in at S$62.7 billion for the Q2, FY19.

Commenting on the results, CEO of SGX Loh Boon Chye, said: 

“We are on a strong growth momentum and our financial performance underscores our resilience as a multi-asset exchange.”

“We achieved a second consecutive quarter of record performance in our derivatives business, with robust institutional demand for our risk management and hedging tools, including our MSCI Net Total Return index futures and FX futures contracts.”

On falling trading value he added:

“…investor sentiment was dampened by concerns on slower global economic growth and escalating trade tensions, which led to lower activity in our securities business along with other regional markets. Notably, we are seeing increased interest in our securities products such as our new single stock daily leverage certificates, as investors seek out more investment opportunities.”

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