The weakening in Singapore Exchange’s derivatives business, which began in the October-December quarter, intensified in the January-March quarter. Derivatives trading was 20.5% below 2008 levels and overall profits down 45.5%.
SGX’s chief executive, Hsieh Fu Hua, described the latest period – which is the third quarter of SGX’s financial year – as “challenging”.
Derivatives trading in the quarter totalled...