SGX posts $65.4m profit
Singapore Exchange (SGX) has posted a drop in revenues due to tough trading conditions.
The exchanged announced revenue for second quarter (2012) was down to $148m compared to $172m for the same period last year. The net profit was net profit of $65.4m down from $74.2m for the same period last year.
Magnus Bocker, SGX chief executive, said: “SGX reported a net profit in difficult market conditions following a decline in securities turnover. We continue to expand our products and services, including the start of the world’s first clearing of OTC foreign exchange forwards.
"During the quarter, we effectively transferred customers' positions and margins following the collapse of MF Global. This...