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Finance

Singapore Exchange Ltd.

Company Background

Singapore Exchange (SGX) plays a key role in Asia's securities and derivatives market, offering the world's largest offshore market for Asian equities index derivatives. Its markets attract many overseas players, and approximately 40% of listed companies have their origins overseas. The company was formed in 1999 through a consolidation of three Singaporean companies that ran exchanges and clearing services, namely Stock Exchange of Singapore (SES), Singapore International Monetary Exchange (Simex) and Securities Clearing and Computer Services (SCCS). The company went public in November 2000. Over 20% of SGX shares are held by SEL Holdings, a special-purpose company wholly owned by Temasek Holdings under Singapore's regulations that restrict the exercise of votes attached to shares of financial exchange companies.

Magnus Bocker was appointed CEO in December 2009. Prior to joining SGX, he spearheaded the creation of the Nordic Exchanges Company (OMX), the world's largest provider of technology solutions for exchanges and clearing organizations. He also played a key role in OMX's merger with Nasdaq in 2008, eventually becoming president of Nasdaq OMX. Under Bocker's leadership, SGX has been diversifying its derivatives offerings. In recent years, SGX has launched Chinese yuan futures contracts as well as gold futures, the "Singapore Kilobar Gold Contract."

Business Summary

Singapore Exchange Ltd. is an investment holding company, which engages in the treasury management, provision of management and administrative services to related corporations, provision of contract processing and technology connectivity services. It operates through the following segments: Equities; Fixed Income, Currencies and Commodities; Data, Connectivity & Indices; and Corporate. The Fixed Income, Currencies and Commodities segment engages in Provision of fixed income issuer services, trading and clearing services and collateral management. The Equities segment engages in Provision of issuer services, securities trading and clearing, securities settlement and depository management, derivatives trading and clearing and collateral management. The Data, Connectivity & Indices segment engages in Provision of market data, connectivity and indices services. The Corporate segment is a Non-operating segment comprising corporate activities which are not allocated to the three operating segments. The company was founded on August 21, 1999 and is headquartered in Singapore.

Financial Highlights

Jun 2021 SGDUSD
Revenue1,055.12M783.49M
Gross Profit897.66M666.57M
Operating income537.00M398.76M
Income before tax540.76M401.54M
Net income445.40M330.74M
EBITDA631.53M468.95M
Diluted EPS0.410.30
Dividends Per Share0.320.23
Total Assets3,022.55M2,248.58M
Total liabilities1,632.78M1,214.68M
Total equity1,384.90M1,030.28M
Operating cash flow569.79M423.11M
Currency in SGDCurrency in USD

Historical Data

 Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021
Revenue 806.44M 855.15M 909.74M 1,053.18M 1,055.12M
Gross Profit 541.32M 572.43M 799.97M 909.58M 897.66M
Operating income 412.81M 436.28M 461.56M 567.69M 537.00M
Income before tax 408.88M 437.47M 474.48M 573.24M 540.76M
Net income 339.69M 363.20M 391.09M 471.81M 445.40M
EBITDA 470.34M 496.93M 524.08M 657.56M 631.53M
Diluted EPS 0.31 0.33 0.36 0.43 0.41
Dividends Per Share 0.28 0.30 0.30 0.30 0.32
Total Assets 2,046.60M 2,118.30M 2,132.28M 2,679.48M 3,022.55M
Total liabilities 1,014.07M 1,022.07M 1,041.43M 1,430.20M 1,632.78M
Total equity 1,032.53M 1,096.23M 1,090.84M 1,244.84M 1,384.90M
Operating cash flow 393.27M 448.71M 419.92M 637.70M 569.79M
 Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021
Revenue 579.19M 637.08M 666.34M 761.10M 783.49M
Gross Profit 388.78M 426.45M 585.94M 657.32M 666.57M
Operating income 296.48M 325.03M 338.07M 410.25M 398.76M
Income before tax 293.66M 325.91M 347.53M 414.26M 401.54M
Net income 243.97M 270.58M 286.46M 340.96M 330.74M
EBITDA 337.80M 370.21M 383.86M 475.19M 468.95M
Diluted EPS 0.22 0.25 0.26 0.31 0.30
Dividends Per Share 0.20 0.22 0.21 0.22 0.23
Total Assets 1,486.44M 1,553.58M 1,576.02M 1,920.71M 2,248.58M
Total liabilities 736.51M 749.59M 769.75M 1,025.19M 1,214.68M
Total equity 749.92M 803.98M 806.27M 892.33M 1,030.28M
Operating cash flow 282.45M 334.29M 307.57M 460.85M 423.11M

Valuation Measures

Jun 2021
PER26.85
ROA15.62%
ROE33.87%
Operating margin50.89%
Profit margin42.21%

Key executives

  • CEO & Non-Independent Executive Director: Boon Chye Loh
  • Head-Operations & Market Services: Nico Torchetti
  • Chief Financial Officer: Yao Loong Ng
  • Chief Technology Officer & Senior MD: Tinku Gupta
  • Co-Secretary, Legal & Compliance: Kim Ming Seah

Shareholders

  • Temasek Holdings Pte Ltd. (Investment Company) (23.3%)
  • FIL Investment Advisors (UK) Ltd. (2.4%)
  • BlackRock Fund Advisors (2.1%)
  • The Vanguard Group, Inc. (1.9%)
  • Schroder Investment Management (Singapore) Ltd. (1.7%)
  • Schroder Investment Management Ltd. (1.0%)
  • JPMorgan Asset Management (Asia Pacific) Ltd. (0.8%)
  • Geode Capital Management LLC (0.7%)
  • Norges Bank Investment Management (0.7%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.5%)

Contact Details

  • Website:http://www.sgx.com
  • Address: 2 Shenton Way, No. 02-02, SGX Centre 1, Singapore, 068804, Singapore
  • Phone: +65.6236.8888

Related Companies

  • SGX FX Pte Ltd.
  • Shanghai Yaxu Consultancy Co., Ltd.
  • SGX America Ltd.
  • Global Clear Pte Ltd.
  • BidFX Systems US LLC
  • Scientific Beta North America, Inc.
  • MaxxTrader
  • SGX FX Markets Pte Ltd.
  • SGX India Connect IFSC Pvt Ltd.
  • SGX Treasury I Pte Ltd.
  • Baltic Exchange (Asia) Pte Ltd.
  • SGX Baltic Investments Pte Ltd.
  • SGX International Pte Ltd.
  • CDP Nominees Pte Ltd.
  • Asian Gateway Investments (China) Pte Ltd.
  • Asiaclear Pte Ltd.
  • SGX General Counterparty Pte Ltd.
  • BidFX Systems Ltd.
  • Singapore Exchange Ltd. (United Kingdom)
  • Scientific Beta (France) SAS
  • Singapore Exchange Regulation Pte Ltd.
  • BidFX Ltd.
  • Singapore Exchange Ltd. (Broker)
  • Singapore Exchange Ltd. (Illinois)
  • SGX Bond Trading Pte Ltd.
  • Scientific Beta Pte Ltd.
  • Baltic Exchange Ltd.
  • Singapore Exchange
  • SGX Investment (Mauritius) Ltd.
  • Asian Gateway Investments Pte Ltd.

Competitors

  • Nasdaq, Inc.
  • Bursa Malaysia Bhd.
  • Deutsche Boerse AG
  • PT Telkom Indonesia (Persero) Tbk Class B
Last Updated on 23 May, 2022

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