News Feed Item
SGX posts FY2014 net profit of $320 million
|By ACN Newswire
|July 31, 2014 06:21 AM EDT
- SGX: All businesses grew in FY2014 excluding securities business
- SGX FY2014 net profit down 5% at $320 million on 4% fall in revenue to $687 million
- SGX proposes unchanged final dividend of 16 cents, total dividend of 28 cents
Singapore, July 31, 2014 - (ACN Newswire) - Magnus Bocker, CEO of Singapore Exchange, said, "We recorded net profit of $320 million on revenue of $687 million last year. Notwithstanding the difficult year for our securities business, we delivered a solid performance with growth in all our other businesses. For the fourth quarter, revenue was $173 million with net profit unchanged at $77 million from the third quarter.
"It was a year during which we accelerated the transformation of our securities market to improve governance and liquidity. In February, we implemented dynamic circuit breakers as an additional market safeguard, and issued a joint consultation paper with the Monetary Authority of Singapore setting out a number of proposals to further enhance our market. We introduced new order types in March to improve trade execution. In June, we opened up to market makers and liquidity providers, and launched a new pricing scheme.
"In our derivatives business, we saw overall volumes grow 3% to a record 104 million contracts. Apart from the Nikkei 225 futures which normalised from a record year, volume growth was 19%. Our suite of iron ore products had a stellar year, growing 234% to 1.2 million contracts. During the year, we introduced more Asian equity index futures, and launched foreign exchange futures and the clearing of non-deliverable interest rate swaps. In the next few quarters, we will launch electricity and gold futures, and expand our suite of FX futures.
"We are confident that our securities market will recover despite a tough year. We remain committed to our strategy to grow all our businesses."
Total revenue was $686.9 million, down 4% from a year earlier. Expenses rose 5% to $315.2 million while net profit was 5% lower at $320.4 million.
Revenue from the securities business declined 18% to $226.9 million, contributing to 33% of total revenue from 38% previously. Securities total traded value was 22% lower at $286.3 billion and daily average traded value (SDAV) decreased 23% to $1.14 billion. The first quarter SDAV was strong at $1.33 billion. However, SDAV for the last three quarters averaged $1.07 billion, following muted securities market activity primarily due to record low market volatility. The impact of the fall in trading value was partially offset by a 6% increase in average clearing fee to 3.1 basis points due to an increase in uncapped trades.
Derivatives revenue was 3% up at $208.7 million, accounting for 30% of total revenue from 28% previously. Total volumes rose 3% to 104.3 million contracts while average month-end open interest for equities and commodities derivatives grew 27% to 3.4 million contracts.
A total of 34 new listings in the year raised $4.8 billion versus 30 listings raising $8.1 billion a year earlier. Secondary equity funds of $4.3 billion were raised versus $5.4 billion a year earlier. Total market capitalisation grew 6% to close at $1.0 trillion on 30 June 2014.
There were 501 new bond listings raising $184.8 billion, compared to 424 listings raising $195.9 billion a year earlier.
For FY2015, operating expenses are expected between $330 million and $340 million. Technology-related capital expenditure is expected between $50 million and $55 million.
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with more than 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.
In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a peerless Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com
Source: Singapore Exchange (SGX)
Marketing & Communications
Tel: +65 6236 8139
Email: [email protected]
Marketing & Communications
Tel: +65 6236 8658
Email: [email protected]
Copyright 2014 ACN Newswire. All rights reserved.
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point.
In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
Oct. 13, 2015 07:00 PM EDT Reads: 1,490
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, al...
Oct. 13, 2015 07:00 PM EDT Reads: 267
Containers are all the rage among developers and web companies, but they also represent two very substantial benefits to larger organizations. First, they have the potential to dramatically accelerate the application lifecycle from software builds and testing to deployment and upgrades. Second they represent the first truly hybrid-approach to consuming infrastructure, allowing organizations to run the same workloads on any cloud, virtual machine or physical server. Together, they represent a ver...
Oct. 13, 2015 06:45 PM EDT Reads: 258
This week, the team assembled in NYC for @Cloud Expo 2015 and @ThingsExpo 2015. For the past four years, this has been a must-attend event for MetraTech. We were happy to once again join industry visionaries, colleagues, customers and even competitors to share and explore the ways in which the Internet of Things (IoT) will impact our industry. Over the course of the show, we discussed the types of challenges we will collectively need to solve to capitalize on the opportunity IoT presents.
Oct. 13, 2015 06:30 PM EDT Reads: 128
As operational failure becomes more acceptable to discuss within the software industry, the necessity for holding constructive, actionable postmortems increases. But most of what we know about postmortems from "pop culture" isn't actually relevant for the software systems we work on and within.
In his session at DevOps Summit, J. Paul Reed will look at postmortem pitfalls, techniques, and tools you'll be able to take back to your own environment so they will be able to lay the foundations for h...
Oct. 13, 2015 06:30 PM EDT Reads: 232
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience?
That richer, more fully integrated experience comes ab...
Oct. 13, 2015 06:15 PM EDT Reads: 1,231
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in high-performance, high-efficiency server, storage technology and green computing, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology is a premier provider of advanced server Building Block Solutions® for Data ...
Oct. 13, 2015 06:00 PM EDT Reads: 232
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA.
This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Oct. 13, 2015 06:00 PM EDT Reads: 207
For almost two decades, businesses have discovered great opportunities to engage with customers and even expand revenue through digital systems, including web and mobile applications. Yet, even now, the conversation between the business and the technologists that deliver these systems is strained, in large part due to misaligned objectives.
In his session at DevOps Summit, James Urquhart, Senior Vice President of Performance Analytics at SOASTA, Inc., will discuss how measuring user outcomes –...
Oct. 13, 2015 06:00 PM EDT Reads: 552
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Oct. 13, 2015 05:00 PM EDT Reads: 123
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet condit...
Oct. 13, 2015 04:00 PM EDT Reads: 729
SYS-CON Events announced today that Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, will keynote at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 13, 2015 03:15 PM EDT Reads: 257
Saviynt Inc. has announced the availability of the next release of Saviynt for AWS. The comprehensive security and compliance solution provides a Command-and-Control center to gain visibility into risks in AWS, enforce real-time protection of critical workloads as well as data and automate access life-cycle governance. The solution enables AWS customers to meet their compliance mandates such as ITAR, SOX, PCI, etc. by including an extensive risk and controls library to detect known threats and b...
Oct. 13, 2015 03:00 PM EDT Reads: 329
DevOps Summit, taking place at the Santa Clara Convention Center in Santa Clara, CA, and Javits Center in New York City, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait...
Oct. 13, 2015 02:30 PM EDT Reads: 201
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands.
Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction....
Oct. 13, 2015 02:15 PM EDT Reads: 359