Record-breaking Revenues and Profits for SGX since Initial Public Offering
Singapore Exchange Group Reports Record Revenue and Net Profit for FY2025
The Singapore Exchange (SGX Group) has announced its financial results for the fiscal year 2025, reporting a significant increase in revenue and net profit since its listing. The group's market data revenue rose by 8.0% to S$51.8 million, contributing to a total net revenue of S$1,298.2 million, an 11.7% year-on-year increase. This marks the highest revenue and net profit for SGX Group since its listing.
The growth was primarily driven by a 15.9% year-on-year increase in adjusted net profit to S$609.5 million. The increase in securities settlement, depository management, corporate actions, and other revenue was mainly due to higher-yielding subsequent settlement transactions. Additionally, currency derivatives volumes increased by 49.7%, with higher volumes in INR/USD and USD/CNH FX futures contracts.
In the equities sector, cash net revenue increased by 18.7% to S$392.7 million, accounting for 30.3% of total net revenue. Trading and clearing revenue for Equities - Cash increased by 31.9% to S$221.8 million, while Equities - Derivatives net revenue rose by 13.8% to S$345.9 million.
FICC net revenue, which accounts for 24.8% of total net revenue, increased by 8.6% to S$321.6 million. Platform and Others net revenue increased by 3.0% to S$238.0 million. The Board of Directors proposed a final quarterly dividend of 10.5 cents per share for FY2025, representing an increase of 16.7% on an annualised basis.
In terms of capital expenditure, SGX Group plans to allocate S$90–95 million in FY2026, focusing on technology upgrades and capability building to support long-term scalability and resilience of its technology systems and infrastructure. This investment is expected to enhance automation and workflow efficiency in OTC FX and other product segments.
SGX Group aims to achieve a medium-term group revenue growth of 6%-8%, primarily through expanding its OTC FX and exchange-traded derivatives businesses, which are expected to grow at low to mid-teens percentages. The company plans to enhance its multi-asset product offerings across asset classes, geographies, and themes while sharpening its go-to-market strategy and client acquisition efforts to scale global reach.
For FY2026, expenses are expected to increase by 4-6%. The group expects total FY2025 dividends to be 37.5 cents, an increase of 8.7% compared to the previous year. The Board of Directors has emphasised a disciplined and proactive approach by investing in core businesses, pursuing strategic growth opportunities, and consistently returning capital to shareholders.
In summary, SGX Group's strategy for FY2026 and beyond focuses on achieving sustainable long-term growth, enhancing shareholder returns, and positioning itself strongly in Asia as a resilient and compelling investment destination.
[1] SGX Group Press Release, [link] [2] Straits Times, [link] [3] The Business Times, [link] [4] Channel NewsAsia, [link] [5] CNBC, [link]
- The Singapore Exchange Group's growth in FY2025 was driven by an increase in currency derivatives volumes, a rise in equities net revenue, and improvements in fixed income and FICC net revenue, reflecting a strong focus on investing in technology upgrades and expanding business offerings.
- The growth in equities net revenue was marked by a significant increase in trading and clearing revenue for equities - cash and equities - derivatives, underscoring the group's commitment to technology upgrades and long-term scalability.
- In the equities sector, higher-yielding subsequent settlement transactions and increased volumes in INR/USD and USD/CNH FX futures contracts contributed to the group's substantial growth in currency derivatives.
- Technology is a crucial focus for Singapore Exchange Group's future plans, with the group aiming to enhance automation and workflow efficiency in OTC FX and other product segments through a strategic investment of S$90–95 million in FY2026.
