- Singapore Exchange (SGX)’s 1HFY24 core-NPAT was behind MIBG/Street expectations. Weak market sentiment as well as a slower China impacted volumes in cash equities and derivatives.
- Nevertheless, the Group’s risk management platform proposition held up well with increased volumes in FICC as market participants hedged inflation and FX volatility.
- - Read this at SGinvestors.io -
Slower equities, better FICC
- Weak market sentiment drove SGX's cash equities average daily traded volumes to fall -11.5% y-o-y in 1HFY24. Equity derivatives saw revenues fall -6.9% y-o-y. This was partly from the migration of the Nifty contract to the NSE IX-SGX GIFT connect in India. Management expects Nifty volumes to normalise within 12-18 months as clearing members are fully onboarded.
- - Read this at SGinvestors.io -
Costs, capex seeing better management
- Read more at SGinvestors.io.
