Derivatives trading contributes to 16 percent surge in Singapore Exchange net profit

rising+derivatives+revenue+contributed+to+the+net+profit+of+the+singapore+exchange+sgx+surging+16+percent+during+the+third+quarter+according+to+earnin 3497 800756959 0 0 7017917 300 Derivatives trading contributes to 16 percent surge in Singapore Exchange net profit  Rising derivatives revenue contributed to the net profit of the Singapore Exchange (SGX) surging 16 percent during the third quarter, according to earnings reported on April 17.

The figures released by the Asian exchange indicated that the net profit for the quarter was S$77.8 million (US$62.25 million), even though revenue decreased by 3.1 percent to reach S$163.6 million (US$131.4 million), according to Channel NewsAsia.

The net profit was higher than the mean prediction of S$75 million provided by analysts who took part in a Reuters poll. The earnings for the quarter also exceeded the S$67 million during the same three months in 2011. The numbers generated during that period were undermined by costs stemming from the company's failed attempt to acquire Australian exchange operator ASX.

Channel NewsAsia reports that various firms worldwide have expressed an interest in listing on the SGX.

"What we are doing to try to enable growth in it is through better technology; increasing the number of members both in our neighbourhood and also further away, make it more attractive for investors – institutional as well as retailers – to come to our market to invest," stated SGX chief executive officer Magnus Bocker, according to the news source.

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