Home Trading SGX Group sees FX revenue jump of 47% in FY22 LeapRate

SGX Group sees FX revenue jump of 47% in FY22 LeapRate

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The Singapore Exchange Group (SGX) released its financial metrics for the financial year 2022 on Thursday.

According to the official numbers, the investment holding company recorded adjusted net profit of S$456 million for 2022 fiscal year, up by 2% from the previous year’s S$446.9 million.

SGX’s revenue for the period reached S$1,099.0 million, registering a 4% increase compared to the S$1,056.0 million recorded in FY21. The Group highlighted that this is its highest revenue performance since listing.

Adjusted EBITDA during the reported period came in at S$637.8 million, compared to S$623.9 million during the previous year. Adjusted earnings per share stood at 42.7 cents in FY22, compared to 41.8 cents in FY21.

SGX

Loh Boon Chye, Chief Executive Officer of SGX Group, said:

Our record-high revenue was driven by higher derivatives volumes across equities, currencies and commodities, as our global customers increasingly used our multi-asset platform to navigate market uncertainties.

Forex Performance

The Singapore Exchange further revealed that with the recent acquisition of MaxxTrader, together with BidFX, OTC FX average daily volume (ADV) jumped 64%YoY in FY2022 to $70.6 billion. The company highlighted that the ADV numbers are on track to achieve $100 billion in the medium term.

OTC FX revenue for this period stood at S$58.4 million, registering a 47% YoY increase from S$39.7 million a year ago.

Loh Boon Chye added:

Our fixed income, currencies and commodities (FICC) business remains a key growth engine and is expected to deliver mid-teens percentage revenue growth in the medium term.

Singapore Exchange (SGX) today announced that SGX revealed on Thursday that its chairman Kwa Chong Seng will step down at the end of the year and Koh Boon Hwee will replace him effective 1 January 2023.

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