The Singapore Exchange (SGX) announced a net profit of USD 74.6 million for the third quarter of 2010,up 35 per cent from an year ago period. The nine-month net profit rose by 12 per cent year-on-year to USD 240.4 million. "The market outlook continues to improve. Our IPO pipeline is strong and we expect continued interest in capital raising activity," SGX CEO Magnus Bocker said. "Increased investment flows in Asia support our Asian Gateway positioning. This gives us more opportunities to work with key market constituents in extending our global reach," he added. As the market outlook continues to improve,albeit slowly,SGX remains committed to ongoing investments for market development,he said. The third quarter securities revenue grew 65 per cent y-o-y to USD 70.2 million as improved investor confidence saw securities daily average trading value (SDAV) of USD 1.5 billion with an annualised average turnover velocity of 58 per cent (USD 914 million in SDAV with an annualised turnover velocity of 61 per cent). Trading value of Exchange Traded Funds (ETFs) in the third quarter of 2010 rose 52 per cent y-o-y to USD 884 million. Derivatives revenue in the quarter was USD 31.9 million,an increase of 2 per cent y-o-y. Total Futures and Options on daily average volume increased 15 per cent y-o-y to 234,325 contracts.
