The Singapore Exchange Group (SGX), an investment holding
company located in Singapore, reported an adjusted net profit of S$456.4
million for its 2022 fiscal year.
This is a 2% increase from the S$446.9 million net profit
posted in the same period last year.
SGX disclosed these figures on Thursday in its published FY2022 financial
summary.
The SGX Group includes subsidiaries such as the Baltic
Exchange, BidFX, MaxxTrader, Climate Impact X and Energy Market Company, among
others.
Meanwhile, the Group’s total revenue grew to S$1,099.0
million, which is a growth of 4% from the S$1,056.0 million recorded in the fiscal year 2021.
The group said this is its highest revenue performance since its listing.
“Our record-high revenue was driven by higher derivatives
volumes across equities, currencies and commodities, as our global customers
increasingly used our multi-asset platform to navigate market uncertainties,”
Loh Boon Chye, the Chief Executive Officer of SGX Group, explained.
Additionally, SGX Group’s adjusted earnings
before interest, taxes, depreciation and amortization (EBITDA) jumped 2% to
S$637.8 million from last year’s $$623.9 million.
The firm also said its Board of Directors has proposed a
final quarterly dividend of 8.0 cent per share, which is the same as last year’s price, and awaits the approval of stakeholders at its next annual general meeting. The dividend is payable on October 21, 2022, it said.
Strong Forex Performance
According to the published FY22 financial summary, over-the-counter
(OTC) forex trading revenue now makes up 5% of SGX Group’s total revenue.
The Group said its OTC forex revenue reached S$58.4
million in the fiscal year 2022, which is up 47% from S$39.7 million a year ago.
Additionally, OTC FX average daily volume (ADV) surged 64%
year-over-year in FY2022, posting US$70.6 billion.
In fact, the volume “is on
track to achieve an ADV of US$100 billion in the medium term,” the exchange company said.
Furthermore, SGX Group noted that its acquisition of off-the-shelf forex
trading solution, MaxxTrader, in January, and input from its cloud-based forex
market execution management system, BidFX, contributed to the growth in its
forex revenue.
Recall that BidFX in its first-year reporting financials after its
acquisition by SGX reported a turnover of $29.4
million with an operating profit of $3.5 million.
Finance Magnates reported that the turnover is
comparatively higher than the $12 million revenue the electronic forex trading solution provider generated during its first six months.
“Our fixed income, currencies and commodities (FICC)
business remains a key growth engine and is expected to deliver mid-teens
percentage revenue growth in the medium term,” Chye said, speaking on the
results of SGX Group’s just-ended fiscal year.
The Singapore Exchange Group (SGX), an investment holding
company located in Singapore, reported an adjusted net profit of S$456.4
million for its 2022 fiscal year.
This is a 2% increase from the S$446.9 million net profit
posted in the same period last year.
SGX disclosed these figures on Thursday in its published FY2022 financial
summary.
The SGX Group includes subsidiaries such as the Baltic
Exchange, BidFX, MaxxTrader, Climate Impact X and Energy Market Company, among
others.
Meanwhile, the Group’s total revenue grew to S$1,099.0
million, which is a growth of 4% from the S$1,056.0 million recorded in the fiscal year 2021.
The group said this is its highest revenue performance since its listing.
“Our record-high revenue was driven by higher derivatives
volumes across equities, currencies and commodities, as our global customers
increasingly used our multi-asset platform to navigate market uncertainties,”
Loh Boon Chye, the Chief Executive Officer of SGX Group, explained.
Additionally, SGX Group’s adjusted earnings
before interest, taxes, depreciation and amortization (EBITDA) jumped 2% to
S$637.8 million from last year’s $$623.9 million.
The firm also said its Board of Directors has proposed a
final quarterly dividend of 8.0 cent per share, which is the same as last year’s price, and awaits the approval of stakeholders at its next annual general meeting. The dividend is payable on October 21, 2022, it said.
Strong Forex Performance
According to the published FY22 financial summary, over-the-counter
(OTC) forex trading revenue now makes up 5% of SGX Group’s total revenue.
The Group said its OTC forex revenue reached S$58.4
million in the fiscal year 2022, which is up 47% from S$39.7 million a year ago.
Additionally, OTC FX average daily volume (ADV) surged 64%
year-over-year in FY2022, posting US$70.6 billion.
In fact, the volume “is on
track to achieve an ADV of US$100 billion in the medium term,” the exchange company said.
Furthermore, SGX Group noted that its acquisition of off-the-shelf forex
trading solution, MaxxTrader, in January, and input from its cloud-based forex
market execution management system, BidFX, contributed to the growth in its
forex revenue.
Recall that BidFX in its first-year reporting financials after its
acquisition by SGX reported a turnover of $29.4
million with an operating profit of $3.5 million.
Finance Magnates reported that the turnover is
comparatively higher than the $12 million revenue the electronic forex trading solution provider generated during its first six months.
“Our fixed income, currencies and commodities (FICC)
business remains a key growth engine and is expected to deliver mid-teens
percentage revenue growth in the medium term,” Chye said, speaking on the
results of SGX Group’s just-ended fiscal year.
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