Blame it on weak results from the derivatives segment.
It was a disappointing quarter for Singapore Exchange (SGX) after it recorded a 6.8% slump in net profit to $83.1m.
According to OCBC Investment Research, this brings SGX's 9-month profits to $254.5m, down 6.5% from the same period last year.
The group also reported a decline in overall revenues, down 1.5% to $202.7m.
The decline in yields was due to the weak numbers from the derivatives segment, which registered an 8.6% decline to $75.2m. This was mainly attributed to lower volume, especially of the A50 contracts, which fell 30% YoY.
The group’s equities and fixed income revenue rose a modest 1.1% to $103.1m, whilst market data and connectivity revenue rose 13% to S$24.4m (or 12% of group revenue). The equity rally in 1Q 2017 helped to mitigate the decline in revenue from its Derivatives segment
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