Categorized | Singapore Trading News

SGX posts 7.9% fall in full year profits

Singapore Exchange Limited on Monday posted a 7.9 per cent decline in fiscal 2011 profits from S$320.1 million in 2011 to S$294.9 million on higher expenses.

Revenue rose 3.3 per cent from S$639.7 million the previous year to S$660.7 million.

The group registered a 6 per cent increase in securities daily trading value to $1.6 billion and an unprecedented derivatives volume of 66 million contracts in the year.

Expenses, however, increased 10 per cent to S$287 million due to technology expenses incurred by its new platforms and its Reach initiative.

It said that it will continue to focus on expanding its Asian Gateway position through new customers and products and services.

SGX has made micro-market structural changes to in its Securities market, by lowering its minimum bid-ask spreads and, more recently, scrapping its lunch breaks for continuous trading.

Of its outlook, the company said that the market could be affected by macroeconomic factors in Asia, Europe and USA in the near term. It will, however, continue to roll out new initiatives to meet its client’s needs while strengthening its position, it said.

SGX declared an interim dividend of 12 cents and final dividend of 15 cents, resulting in a total of dividend of 27 cents, unchanged from last year.

Adapted from The Business Times.

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GBPUSD 1.38880 1.38910 3
USDCAD 1.24770 1.24800 3
USDJPY 110.600 110.620 2
USDCHF 0.96050 0.96100 5
AUDUSD 0.79990 0.80020 3
NZDUSD 0.72800 0.72850 5
EURGBP 0.88260 0.88290 3
EURCHF 1.17770 1.17830 6
EURJPY 135.620 135.650 3
AUDJPY 88.480 88.530 5
GBPJPY 153.620 153.680 6
XAUUSD 1331.50 1331.90 40
XAGUSD 17.001 17.051 5