SGX profit shoots up by 28% to $99m

Spearheaded by strong derivatives growth.

The local bourse was expected to be on a robust growth path, but its 30% earnings increase still exceeded expectations, as derivatives growth leaped by 69%.

According to OCBC, the strong showing of derivatives was led by a 67% gain in equities and commodities revenue to $67.1m.

“The SGX FTSE China A50 Index futures saw a 164% YoY rise in volume to 28.4m contracts,” OCBC said.

However, securities recorded a flattish qoq revenue of $55.9m, growing by 14% yoy.

“Securities Daily Average Traded Value (SDAV) grew 27% YoY to S$1.23b, while the SDAV of STI stocks jumped 61% to S$0.88b,” OCBC said.