Tuesday, 16 April 2013

Small cap rally, credentials boost SGX Q3 profit by 26%

SINGAPORE Exchange (SGX) is reaping the benefits of a small-cap rally and its growing reputation as a safe and efficient marketplace, posting its best quarter since the global financial crisis.
"The open interest in our derivatives business is a very good example of how the trust of the way we run a clearing house, the trust of the regulatory environment we're in, is starting to pay off," chief executive Magnus Bocker said yesterday. "It's more attractive to have your open interest here than some of the other markets that those products are trading."
The market operator posted a 25.6 per cent year-on-year jump in net profit to $97.7 million, or 9.13 cents per share, in the fiscal third quarter ended March. For the nine months to March, net profit rose 7.6 per cent to $248.3 million, or 23.24 cents per share.
SGX is recommending a dividend of 4 cents per share.

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