Singapore Exchange Reports Net Profit of S$222 Million in H1 FY2022

Singapore Exchange (SGX) has released its financial results for the first half of the fiscal year 2022. According to the report, the exchange realized a net profit of S$222 million.

The firm reported a 20% increase in its Scientific Beta and BidFX division, which has proven to be the exchange's fast-growing subsidiaries. According to the report, Adjusted EBITDA hit S$309.6 million while the earning per share (EPS) touched 20.7 cents.

Revenues From Its Core Business Also Surge

Also, the exchange realized S$521.6 million as its total revenue for H1 FY2022 while revenues from its core business reached S$501 million, showing a 6% increase from the figure in the past quarter.

Additionally, the trading and clearing revenues from commodity, currency, and equity trading also saw a noticeable spike, based on the report.

"We are making good progress in executing our multi-asset strategy," Chief Executive Officer of SGX, Loh Boon Chye, commented.

He stated that the exchange has seen impressive growth in its underlying core revenue following a strong performance in commodities and currencies. Chye also mentioned that its equities derivatives products have attracted a steady level of growth as it maintains a healthy market share. The company has also grown impressively in its index and market data business, which has contributed to the overall performance in its revenue.

SGX Has Recorded Impressive Growth In The Past 2 Years

Chye admitted that the last two years have been particularly favorable in terms of revenue, despite the impact of the COVID-19 pandemic on the market. Within this period, it has made S$1 billion worth of investments and acquisitions, capturing growth opportunities and surpassing its multi-asset strategy.

SGX said it witnessed a sharp increase in its FX average daily volume (FX ADV) during the first half of fiscal 2022. The number rose from US$39 billion to US$57 billion, showing a 46% increase.

The past 12 months have also been favorable as the exchange recorded a steady increase in its FX trading activities across all its platforms. This came even as the exchange completed its acquisition deal for FX platform MaxxTrader.

Mmmm has also stated that SGX is likely going to do better in the next quarter following an increased interest in Asia-centric portfolio investment. He noted that the exchange's China-access products will receive a lot of attention as interests in such products surge.