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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 2022 SGDUSD
Revenue1,107.64M814.49M
Gross Profit941.76M692.52M
Operating income553.17M406.76M
Income before tax555.12M408.20M
Net income451.39M331.93M
EBITDA649.82M477.84M
Diluted EPS0.410.30
Dividends Per Share0.320.23
Total Assets3,855.48M2,770.34M
Total liabilities2,306.02M1,656.98M
Total equity1,544.40M1,109.72M
Operating cash flow606.22M445.78M
Currency in SGDCurrency in USD

Historical Data

 Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022
Revenue 855.15M 909.74M 1,053.18M 1,055.12M 1,107.64M
Gross Profit 572.43M 799.97M 909.58M 897.66M 941.76M
Operating income 436.28M 461.56M 567.69M 537.00M 553.17M
Income before tax 437.47M 474.48M 573.24M 540.76M 555.12M
Net income 363.20M 391.09M 471.81M 445.40M 451.39M
EBITDA 496.93M 524.08M 657.56M 631.53M 649.82M
Diluted EPS 0.33 0.36 0.43 0.41 0.41
Dividends Per Share 0.30 0.30 0.30 0.32 0.32
Total Assets 2,118.30M 2,132.28M 2,679.48M 3,022.55M 3,855.48M
Total liabilities 1,022.07M 1,041.43M 1,430.20M 1,632.78M 2,306.02M
Total equity 1,096.23M 1,090.84M 1,244.84M 1,384.90M 1,544.40M
Operating cash flow 448.71M 419.92M 637.70M 569.79M 606.22M
 Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022
Revenue 637.08M 666.34M 761.10M 783.49M 814.49M
Gross Profit 426.45M 585.94M 657.32M 666.57M 692.52M
Operating income 325.03M 338.07M 410.25M 398.76M 406.76M
Income before tax 325.91M 347.53M 414.26M 401.54M 408.20M
Net income 270.58M 286.46M 340.96M 330.74M 331.93M
EBITDA 370.21M 383.86M 475.19M 468.95M 477.84M
Diluted EPS 0.25 0.26 0.31 0.30 0.30
Dividends Per Share 0.22 0.21 0.22 0.23 0.23
Total Assets 1,553.58M 1,576.02M 1,920.71M 2,248.58M 2,770.34M
Total liabilities 749.59M 769.75M 1,025.19M 1,214.68M 1,656.98M
Total equity 803.98M 806.27M 892.33M 1,030.28M 1,109.72M
Operating cash flow 334.29M 307.57M 460.85M 423.11M 445.78M

Valuation Measures

Jun 2022
PER22.40
ROA13.12%
ROE30.81%
Operating margin49.94%
Profit margin40.75%

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 (2.0%)
  • The Vanguard Group, Inc. (2.0%)
  • Schroder Investment Management (Singapore) Ltd. (1.5%)
  • Schroder Investment Management Ltd. (1.2%)
  • Geode Capital Management LLC (0.9%)
  • JPMorgan Asset Management (Asia Pacific) Ltd. (0.8%)
  • Norges Bank Investment Management (0.7%)
  • AllianceBernstein LP (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 29 Sep, 2022

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