Business

SGX Q1 net profit up 9.2% to $90m

The positive sentiment spurring more market activity helped the Singapore Exchange improve performance across all business units in the first quarter.

Net profit reached $90.7 million, up 9.2 per cent from the same period a year earlier, while operating revenue in the three months to Sept 30 rose 7.1 per cent to $204.5 million.

Equities and fixed income revenue advanced 2 per cent to $99.7 million, led by a 9 per cent jump in takings from securities trading and clearing to $51.2 million.

Total value of securities traded during the quarter was $73.2 billion, which works out to a daily average traded value of $1.16 billion, an increase of 18 per cent from the same period last year.

Value of equities traded rose 14 per cent to $67.5 billion, although the average clearing fee fell from 3.00 basis points to 2.87 basis points, owing to a higher proportion of trading from market makers and liquidity providers.- THE STRAITS TIMES

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