Singapore Exchange's net profit rises 26% in third quarter

The Singapore Exchange (SGX) has posted a 26 per cent rise in its third-quarter net profit from the same period a year ago, to $98 million, as market activity ramped up.

Its revenue for the three months ended March 31 climbed 16.5 per cent to $191 million.

Its earnings per share stood at 9.1 cents for the third quarter, up from 7.3 cents a year ago.

The board of directors has declared an interim dividend of four cents a share, payable on May 2.

SGX chief executive Magnus Bocker noted that daily average traded value rose 17 per cent year-on-year to $1.7 billion during the third quarter as the market was strong.

The derivatives market, meanwhile, delivered a second consecutive record quarter with daily average traded volume of 479,235 contracts, up 52 per cent year-on-year.

Improved sentiments across global capital markets this past quarter led to increased trading and clearing volumes for both securities and derivatives markets, the SGX noted in a statement on Tuesday.

"However global economic conditions remain volatile. It is uncertain if current market conditions will persist," it added.

"Our initial public offering and bond listings pipelines are healthy. We are keeping up efforts to develop new products and services, and strengthen our regulatory and risk management capabilities."

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