SINGAPORE Jan 22 Singapore Exchange Ltd
reported net profit of S$75 million ($58.58 million)
in the December quarter, its weakest in more than a year after a
penny stock scandal hammered trading volumes.
That came in line with the S$75.2 million average forecast
of eight analysts surveyed by Reuters, and down 1.8 percent from
a year ago.
Derivatives revenue rose 16 percent to S$52.5 million and
was a shade higher than securities revenue which fell 13 percent
to S$52.2 million.
Since taking over as CEO four years ago, Magnus Bocker has
spearheaded the launch of new financial and commodity
derivatives to make Singapore a regional gateway in Asia.
The derivatives segment contributed 32 percent to SGX's
total revenue in Oct-Dec, up from 28 percent a year ago. To
diversify from cash equities, SGX has been putting an increasing
focus on commodities and contracts that track Asian stock
indices including the Nikkei 225 and China's FTSE A50.
($1 = 1.2785 Singapore dollars)
(Reporting by Anshuman Daga; Editing by Michael Urquhart)