Thursday, 22 October 2015

Singapore Exchange - DBS Research 2015-10-22: Volatility-led improvement

Singapore Exchange - DBS Research 2015-10-22: Volatility-led improvementSINGAPORE EXCHANGE LIMITED SGX S68.SI 

Singapore Exchange - Volatility-led improvement 

  • 1Q16 net profit of S$99m (+28% y-o-y); revenue +30% to S$220m, in line. 5-Sct DPS declared. 
  • Securities up; continued growth from Derivatives 
  • Challenging outlook for Securities; diversifying business mix to reduce reliance on Derivatives. 
  • Maintain HOLD, TP S$7.80. 
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