Singapore Exchange (SGX)'s annual results displayed almost unchanged revenue from derivatives, despite a 34.9% drop in futures trading volume based on the exchange's collapsing market share in Eurodollar contracts (see FO Week Vol 9 No 23).
For the financial year to the end of June, SGX's derivatives revenue totalled S$49.6m ($29.77m), a slight fall from S$50.1m the previous year. This stability, however, was based on the exchange's reclassification of structured warrants as derivatives. While revenue from futures...