Singapore Exchange Q3 profit hits 13-year high as trading volume surges amid COVID-19 volatility
Singapore Exchange reported a 38 per cent jump in quarterly net profit to a 13-year high, as equities and derivatives trading volume surged on extreme market volatility.
"With uncertainty around the eventual economic and financial impact of COVID-19 and path to recovery, these elevated levels of volatility are likely to be prolonged," CEO Loh Boon Chye said in a statement on Friday (Apr 24).
SGX's profit rose to S$137.5 million in January to March from a year earlier, while total revenue jumped 29 per cent to S$295.8 million - a record - according to Refinitiv data.
Exchanges worldwide have benefited from a sharp rise in trading volume during wild market swings as the coronavirus pandemic keeps investors on edge.
CNA
Published On : 2020-04-24