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

[SINGAPORE] 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, flat from a year ago. Revenue edged up 2.7 per cent to S$$205 million, supported by an 11.2 per cent rise in derivatives revenue.

REUTERS