Core Points - The Nikkei index futures on the Singapore Exchange opened up by 185 points, reaching a level of 36,255 points [1] Group 1 - The increase in the Nikkei index futures indicates a positive market sentiment [1]

Financial Performance - SGX achieved its highest half-year operating revenue and NPAT in 1H FY2025[10] - Net revenue increased by 15.6% to $646 million, driven by effective execution of a multi-asset strategy amidst macro events[11, 20] - Adjusted expenses remained comparable at $257 million, with cost discipline maintained[11, 23] - Adjusted NPAT was $320 million[11] - The company reaffirmed its Aa2 rating by Moody's in November 2024 with a stable outlook[29] Revenue Segment Growth - Derivatives revenue increased, with Equity Derivatives DAV up 16.4% to 728,000 contracts[15, 21] - Cash equities SDAV increased by 31.2% to $1.26 billion, driven by elevated investor interest and investment flows[15, 16, 21] - OTC FX headline ADV increased by 35.4% to US$136 billion[21] Business Updates - FX Derivatives recorded a DAV increase of 40% year-over-year for CNH, INR & KRW futures[37] - Iron Ore DAV increased by 13% year-over-year, with financialization accelerating[42] - Equity Derivatives saw increased global usage amid positive momentum in Asia[46]

据统计，新加坡交易所的公司数量在10月降至617家，为2004年9月以来的最低水平。 财联社12月27日电，今年新加坡仅有4家公司上市，多家公司退市，新加坡交易所的上市公司数量已降 至二十年来最低点。 自2013年达到782家的高点以来，这一数字一直在稳步下降，新加坡国内公司被吸引到海外上市，尤其 是在美国等更大且交易更活跃的市场。 ...

Financial Performance - Group revenue increased by 3.1% to approximately S$1.23 billion, driven by strong growth in currencies and commodities, while adjusted expenses rose by 2.5% to S$604 million, resulting in a 4.5% increase in Group earnings to S$526 million [2][3][4] - The derivatives franchise, which includes equities, commodities, and currencies, accounted for about 45% of total revenue, with revenue from derivatives growing by approximately S$12 million or 2% due to an 8% increase in volumes [3][4] - Treasury Income (TI) was slightly lower year-on-year, and excluding TI, Group revenue growth would have been 3.6% [4][5] Business Line Performance - The Fixed Income, Currencies, and Commodities (FICC) segment now accounts for 26% of total revenue, with a growth rate exceeding 20% per annum over the last three years [9][21] - Revenue from equity derivatives decreased by 8%, contributing about 27% to total Group revenue, primarily due to lower volumes in Nifty derivatives [10][11] - Cash market revenue declined by 2% due to a 4% drop in securities traded volume, maintaining a 27% contribution to Group revenue [11] - Platform revenue grew by 6%, driven by increased market data and connectivity services, contributing 20% to total revenue [11] Market Performance - The average daily volume (ADV) for OTC FX increased by 47% to US$111 billion, surpassing the target of US$100 billion [4][23] - Commodities volume grew by 50% year-on-year, with iron ore contracts seeing significant adoption [23][24] - Open interest for listed FX futures increased by 76% year-on-year, with notable single-day volume records for RMB and Indian rupee futures [22][30] Company Strategy and Industry Competition - The company aims to grow Group revenues excluding treasury income by 6% to 8% CAGR in the medium term, focusing on low to mid-teens growth in OTC FX and exchange-traded derivatives [33] - The multi-asset strategy has proven effective, with FICC, equities, and cash equities derivatives collectively contributing 80% of total revenues [20][21] - The company is exploring opportunities for M&A while maintaining a focus on organic growth and enhancing its product offerings [66] Management Commentary on Operating Environment and Future Outlook - Management highlighted the importance of a collaborative ecosystem to enhance market liquidity and investor engagement [39][45] - The company expects to manage expenses effectively while investing in modernization and infrastructure upgrades, with CapEx projected to increase to S$70 million to S$75 million in FY '25 [17][18] - The outlook for treasury income remains uncertain due to external factors, but the company is focused on growing its derivatives business [56][58] Other Important Information - The Board proposed a final quarterly dividend of $0.09 per share, bringing the total dividends for FY '24 to $0.345 per share, representing an annualized increase of almost 6% [18] - The company has set aside S$8 million for initiatives aimed at improving the vibrancy of the securities market, which may not become a recurring expense [8][43] Q&A Session Summary Question: Thoughts on the MAS-sponsored review of the equity market - Management emphasized the need for a collaborative ecosystem approach to enhance liquidity and demand in the stock market, rather than relying solely on SGX's initiatives [36][39] Question: Clarification on trading technologies and their valuation - Trading technologies play a crucial role in connecting global users to various futures exchanges, and their recent revaluation reflects their expanded business and importance in the ecosystem [37][40] Question: Details on the S$8 million provision for securities market initiatives - This provision is aimed at supporting the broader ecosystem and enhancing market vibrancy, and it is considered a one-off expense [43][44] Question: Expectations for more listings this year - Management noted a low base in previous years and indicated that companies are preparing for IPOs, with a more favorable macro environment expected [46][47] Question: Insights on capital expenditure and its impact on operating expenses - Management acknowledged that increased CapEx will likely lead to higher OpEx due to depreciation, but they aim to manage overall expense growth [49][50] Question: Future dividend growth expectations - The company aims for mid-single-digit CAGR growth in dividends, contingent on revenue and net profit growth [51][66] Question: FX ADV target and growth potential - The company aims to increase the contribution of OTC FX to mid to high-single-digit percentages of Group EBITDA in the medium term [54] Question: Treasury income outlook amid rate cuts - Management indicated that treasury income is influenced by various factors, and they prefer to focus on growing the derivatives business for more predictable income [55][58]

| --- | --- | |------------------------------------------------------------------------------|-------| | | | | | | | FY2024 Results | | | Analyst and Media Briefing | | | | | | Loh Boon Chye, Chief Executive Officer Ng Yao Loong, Chief Financial Officer | | | 8 August 2024 | | | Singapore Exchange | | Commodities | Equity Derivatives | Fixed Income | FX | Indices | Securities Forward Looking Statements This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties ...

Singapore Exchange Limited (OTCPK:SPXCF) Q2 2024 Earnings Conference Call January 31, 2024 8:00 PM ET Company Participants Dominic Lim - Head of Investor Relations Ng Yao Loong - Chief Financial Officer Loh Boon Chye - Chief Executive Officer Lee Beng Hong - Head of Wholesale Markets and Platforms Michael Syn - President Pol de Win - Head of Global Sales and Origination Conference Call Participants Harsh Modi - JPMorgan Chase & Co. Nick Lord - Morgan Stanley Thilan Wickramasinghe - Maybank Jovi Ho - The Edg ...

| --- | --- | |------------------------------------------------------------------------------|-------| | | | | | | | 1H FY2024 Results | | | Analyst and Media Briefing | | | | | | Loh Boon Chye, Chief Executive Officer Ng Yao Loong, Chief Financial Officer | | | 1 February 2024 | | | Singapore Exchange | | Commodities | Equity Derivatives | Fixed Income | FX | Indices | Securities Forward Looking Statements This presentation may contain forward-looking statements that involve assumptions, risks and uncertai ...

| --- | --- | |------------------------------------------------------------------------------|-------| | | | | | | | FY2023 Results | | | Analyst and Media Briefing | | | | | | Loh Boon Chye, Chief Executive Officer Ng Yao Loong, Chief Financial Officer | | | 17 August 2023 | | | Singapore Exchange | | Commodities | Equity Derivatives | Fixed Income | FX | Indices | Securities Forward Looking Statements This presentation may contain forward-looking statements that involve assumptions, risks and uncertaintie ...

Singapore Exchange Ltd (OTCPK:SPXCF) Q4 2023 Earnings Conference Call August 16, 2023 9:00 PM ET Company Participants Dominic Lim - Head, IR Ng Yao Loong - CFO Loh Boon Chye - CEO Conference Call Participants Jayden Vantarakis - Macquarie Capital Securities Tan Yong Hong - Citi Thilan Wickramasinghe - Maybank Harsh Modi - JPMorgan Gurpreet Singh Sahi - Goldman Sachs Andrea Choong - CIMB Research Tabitha Foo - DBS Bank Dominic Lim Good morning to everybody here today, and to those viewing this session over w ...

Singapore Exchange Ltd (OTCPK:SPXCF) Q2 2023 Earnings Conference Call February 8, 2023 8:00 PM ET Company Participants Dominic Lim - Head, IR Ng Yao Loong - CFO Loh Boon Chye - CEO Mike Syn - Head, Equities & Senior MD Conference Call Participants Nicholas Lord - Morgan Stanley Harsh Modi - JPMorgan Chase & Co. Andrea Choong - CIMB Research Tabitha Foo - DBS Bank Dominic Lim Good morning, ladies and gentlemen. Welcome to SGX Group's First Half FY 2023 Results Briefing. Today's agenda will be as follows: Fir ...