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 clearing fell from
S$49.9m to S$44.9m, warrants business contributed S$4.7m to
overall derivatives revenue.
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