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Singapore Exchange Q3 net profit falls 7 pct as derivatives drag
April 20, 2017 / 9:57 AM / 7 months ago

Singapore Exchange Q3 net profit falls 7 pct as derivatives drag

SINGAPORE, April 20 (Reuters) - Singapore Exchange Ltd posted a 7 percent drop in January-March net profit while revenue slipped 2 percent, dragged by a weak performance in its derivatives business.

“In the past quarter, we saw continued momentum in the equities market following the U.S. Presidential Election, with increased participation seen from both retail and institutional customers,” Chief Executive Loh Boon Chye said in a statement on Thursday.

Loh said that although sentiment had improved, positive outcomes on U.S. economic policies will be important to sustain trading activities.

SGX, a global centre for business trusts and real estate investment trusts, reported a net profit of S$83.1 million ($59.5 million) versus S$89.2 million a year ago. Operating revenue fell to S$202.7 million. Derivatives revenue declined 9 percent to S$75.2 million.

The exchange has kicked off a public consultation as it decides whether to introduce dual-class share structures, a move that is expected to help it broaden its appeal to tech and other new economy companies. ($1 = 1.3961 Singapore dollars) (Reporting by Anshuman Daga; Editing by Gopakumar Warrier)

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