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S68 - Singapore Exchange News Story

S$10.1 -0.0  -0.1%

Last Trade - 10:04am

Sector
Financials
Size
Large Cap
Market Cap £5.78bn
Enterprise Value £5.55bn
Revenue £584.6m
Position in Universe 273rd / 6102

UPDATE 1-Singapore Exchange Q3 profit hits 13-year high as trading volume surges

Fri 24th April, 2020 1:05am
(Adds comment)
    SINGAPORE, April 24 (Reuters) - Singapore Exchange  SGXL.SI 
reported a 38% jump in quarterly net profit to a 13-year high,
as equities and derivatives trading volume surged on extreme
market volatility.
    "With uncertainty around the eventual economic and financial
impact of COVID-19 and path to recovery, these elevated levels
of volatility are likely to be prolonged," CEO Loh Boon Chye
said in a statement on Friday.
    SGX's profit rose to S$137.5 million ($96.5 million) in
Jan-March from a year earlier, while total revenue jumped 29% to
S$295.8 million - a record - according to Refinitiv data.
    Exchanges worldwide have benefited from a sharp rise in
trading volume during wild market swings as the coronavirus
pandemic keeps investors on edge.
 ($1 = 1.4246 Singapore dollars)

 (Reporting by Anshuman Daga; Editing by Himani Sarkar)
 ((anshuman.daga@tr.com;))
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