(Adds CEO comment, background)
SINGAPORE, July 31 (Reuters) - Singapore Exchange Ltd reported record revenue for the quarter ending June and its net profit rose 24%, boosted by strong performance at its derivatives business, while its securities business also improved.
“We set all-time records in our derivatives volumes and open interest, driven by strong global institutional demand for Asian risk management and investment solutions,” Loh Boon Chye, SGX’s CEO said in a statement on Wednesday, as the bourse reported full-year results.
SGX’s fourth-quarter profit advanced to S$103.9 million ($75.9 million) from a year earlier, while total revenue rose 16.5% to a record S$248 million. Derivatives revenue jumped 52% and accounted for just over half of its total revenue.
Last month, SGX unveiled plans to combine its commodities, currencies and fixed income unit and named a new head for its equities segment as part of a corporate rehaul to help drive growth in multiple asset classes.
The changes were among the most significant at SGX since Loh, a veteran banker, joined the bourse four years ago. ($1 = S$1.3687) (Reporting by Anshuman Daga; Editing by Shounak Dasgupta)