January 19, 2018 / 10:03 AM / 3 months ago

Singapore Exchange sees pick-up in market activity, posts flat Q2 profit

SINGAPORE, Jan 19 (Reuters) - Singapore Exchange Ltd (SGX) said it expects increased market activity and more listings after reporting a flat net profit for October-December.

“On the derivatives front, efforts to grow our client base contributed to higher equity futures trading, record volumes in key foreign exchange futures contracts and a stronger virtual steel mill chain,” CEO Loh Boon Chye said in a statement.

SGX, a global listing hub for business trusts and real estate investment trusts, has been considering introducing dual class shares listings. However, it is yet to take a decision nearly a year after a key Singapore advisory panel recommended the move.

SGX’s second-quarter net profit came in at S$88.4 million($66.9 million), flat from a year ago. Revenue edged up 2.7 percent to S$$205 million, supported by an 11.2 percent rise in derivatives revenue. ($1 = 1.3190 Singapore dollars) (Reporting by Anshuman Daga; Editing by Gopakumar Warrier)

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