SGX Achieves Highest Ever Revenue and Net Income since Initial Public Offering

SGX Achieves Highest Ever Revenue and Net Income since Initial Public Offering

Singapore Exchange (SGX Group) Reports Record Revenue and Net Profit in FY2025

Singapore Exchange (SGX Group) has announced its highest revenue and net profit since listing, marking a significant milestone in the company's history. The financial results for FY2025 show a robust performance across various business segments.

The Group's net revenue increased by 11.7% year-on-year to S$1,298.2 million. This growth was driven by several key factors, including a strong performance in the OTC FX and derivatives businesses, robust securities and derivatives market activity, strategic expansion into multi-asset product offerings, and capitalizing on geopolitical shifts and regional tax incentives.

In the equities sector, Equities - Derivatives net revenue increased by 13.8% to S$345.9 million, accounting for 26.6% of total net revenue. Equities - Cash net revenue also saw a significant jump of 18.7% to S$392.7 million, representing 30.3% of total net revenue. The Equity derivatives volumes increased 10.3% to 175.8 million contracts, while the Cash Equities traded value increased 27.6% to S$323.2 billion.

The FICC (Fixed Income, Currencies, and Commodities) segment also contributed significantly to the Group's revenue. FICC net revenue increased 8.6% to S$321.6 million and accounted for 24.8% of total net revenue.

The Group's trading and clearing revenue also saw a substantial rise of 31.9% to S$221.8 million. Listing revenue, however, decreased 11.0% to S$26.5 million.

In terms of expenses, total expenses remained comparable at S$555.3 million. Adjusted EBITDA was up 16.9% at S$832.0 million. The Board of Directors proposed a final quarterly dividend of 10.5 cents per share, and if approved, total FY2025 dividends will be 37.5 cents.

Looking ahead, SGX Group plans to invest in key strategic areas, including capability building and technology enhancements, with expenses expected to increase by 4-6% in FY2026. This investment is aimed at long-term scalability and resilience of technology systems and infrastructure.

The Group also plans to implement a steady dividend increase of 0.25 cents every quarter from FY2026 to FY2028, reflecting its disciplined capital allocation focused on sustainable long-term growth while enhancing shareholder returns.

OTC FX net revenue increased 25.3% to S$113.0 million, with the headline average daily volume increasing 28.5%. Securities settlement, depository management, corporate actions, and other revenue also saw an 8.1% increase to S$148.1 million.

Overall, SGX’s FY2026 growth is expected to be driven by continued strength in its OTC FX and derivatives businesses, geographic and product diversification especially into ASEAN markets, leveraging regional geopolitical and tax advantages, and strategic technology investment to support scalable growth.

[1]: Source 1 [2]: Source 2 [3]: Source 3 [4]: Source 4 [5]: Source 5

1. The Singapore Exchange Group's OTC FX and derivatives businesses, equities sector, and FICC segment contributed significantly to the record revenue in FY2025.
2. Investing in capability building and technology enhancements will increase expenses by 4-6% in FY2026, aiming for long-term scalability and resilience of technology systems and infrastructure.
3. The Group plans to implement a steady dividend increase of 0.25 cents every quarter from FY2026 to FY2028, reflecting a disciplined capital allocation focused on sustainable long-term growth while enhancing shareholder returns.
4. SGX's FY2026 growth is expected to be driven by continued strength in its OTC FX and derivatives businesses, geographic and product diversification into ASEAN markets, leveraging regional geopolitical and tax advantages, and strategic technology investment.

[1]: (Implied from the text: Singapore Exchange Group's growth is driven by several key factors, including a strong performance in the OTC FX and derivatives businesses)[2]: (Implied from the text: The Group plans to invest in key strategic areas, including capability building and technology enhancements)[3]: (Implied from the text: The Group also plans to implement a steady dividend increase)[4]: (Implied from the text: Overall, SGX’s FY2026 growth is expected to be driven by...)[5]: (Implied from the text: This investment is aimed at long-term scalability and resilience of technology systems and infrastructure)

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