Singapore Exchange Ltd (SGX) aims to add products to its lucrative derivatives b...
SINGAPORE - Singapore Exchange Ltd aims to add products to its lucrative derivatives business and offer Southeast Asian unicorns a platform to list shares and bonds, in a multi-asset strategy aimed at sustaining growth, its chief executive said.
“They think about us as a derivatives, foreign exchange, commodities and freight market and also increasingly a fixed income market,” Loh told Reuters. SGX has seen trading volume drop after a penny stocks crash in 2013 battered investor confidence, while weak valuations have led to a spate of delistings.
SGX’s revenue from the trading of equities, commodities and foreign exchange derivatives jumped 30% in June-March, making up 50% of the total. Revenue from its equities and fixed income segment fell 16% and accounted for 39%. In recent years, SGX has improved its market liquidity, strengthened its regulatory framework and introduced a dual-class share system with an eye on potential IPOs from Southeast Asian startups with billion-dollar valuations such as ride-hailing firms Grab and Go-Jek and e-commerce company Tokopedia.
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