SINGAPORE (Apr 30): To hear some old-time brokers talk about the state of the local stock market, one might think that the Singapore Exchange is operating a moribund business. Yet, SGX recently reported its highest quarterly revenue since it was listed back in 2000, and its highest quarterly net profit in a decade.

For 3QFY2018 ended March 30, SGX posted a 21% y-o-y rise in net profit to $100.5 million on a 10% y-o-y increase in revenue to $222.2 million. Much of that strong performance was driven by SGX’s thriving derivatives business rather than traditional stock trading by the retail investors from which remisiers used to make a good living. SGX’s revenue from derivatives increased 20.4% y-o-y to $90.5 million, which was 40.7% of its total revenue. On the other hand, revenue from securities trading and clearing rose 11.6% y-o-y to $61.7 million, which was 27.8% of its total revenue for the quarter.

The other segments of its revenue were issuer services (up 7.9% y-o-y to $20.5 million); post trade services (down 10.8% to $25.6 million); and market and data connectivity (down 2.2% to $23.9 million).

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