Singapore Exchange Q2 net up 17 percent, boosted by derivatives

SINGAPORE Tue Jan 22, 2013 4:31am EST

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SINGAPORE Jan 22 (Reuters) - Singapore Exchange Ltd (SGX), Asia's second-largest bourse operator by market capitalisation, reported a 17 percent rise in quarterly net profit, helped by a strong performance at its derivatives business.

Net profit was S$76.3 million ($62.12 million) in the October-December quarter, beating the S$65.4 million earned a year earlier, SGX said on Tuesday. That just beat the S$75.4 million average forecast of five analysts surveyed by Reuters.

SGX said the daily average traded value rose to S$1.2 billion in the bourse's second quarter from S$1.1 billion a year earlier, although was just under the S$1.3 billion posted in the July-September quarter.

The bourse's derivatives business saw an average daily trading volume of 358,532 contracts, its highest ever for a quarter and up 30 percent from a year earlier.

"This past quarter, we have seen improved sentiments across capital markets globally leading to increased volumes," Magnus Bocker, SGX's chief executive said. "Our IPO and bond listings volumes remain healthy," he added.

Shares of SGX have had a solid start to 2013, rising around 8 percent so far, although trailing Hong Kong Exchanges and Clearing Ltd , Asia's largest bourse operator, which is up 13 percent.

Australia's ASX Ltd, the region's No.3 bourse by market capitalisation, is up around 7 percent in the same period.

($1 = 1.2283 Singapore dollars) (Reporting by Rachel Armstrong; Editing by Matt Driskill)

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