SGX's 3Q13 results are the strongest in 5 years

All thanks to robust trading activities.

According to CIMB, Singapore Exchange recorded its strongest quarter in five years. It said that 3QFY13 received a boost from strong trading activities.

Meanwhile, CIMB noted that securities trading and clearing revenue (S$75m) grew 15% yoy as securities ADVT (S$1.7bn) grew 17.6% yoy, with a 4% increase in clearing yield due to a larger proportion of uncapped trades.

Here's more:

Revenue from derivatives contracts trading and clearing grew 28% due to more derivative contracts traded and DDAV grew 52% yoy, buoyed by interest in China A50 and Nikkei 225 contracts and demand for iron ore swaps. Depository services grew 19% yoy on higher securities market activities.

Other revenue sources remained largely flattish. Cost control fell to 45.3% (3Q12: 49.1%) as staff and technology costs were kept under control. SGX declared a 4Scts dividend bringing (9M13 12Scts).

Management has been laying the foundation for longer-term growth with overseas tie-ups with Philippine Stock Exchange, Korea Exchange and China Financial Futures Exchange to develop its derivative products and clearing abilities. If successful, derivative revenues could increase in contribution.

Management also sees opportunities for Rmb-denominated products.

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