Singapore Exchange Ltd (SPXCF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and a warm welcome to those joining us here in the auditorium, as well as via the webcast. It's my pleasure to welcome you to SGX First Half FY2026 results briefing. We will begin in a while with a presentation of the financial results by our CFO, Mr. Daniel Koh. And following that, our CEO, Mr. Lo Boon Chye, will present the business updates. We will conclude with a Q&A session with SGX Senior Management. Please wait for the mic to come to you and do identify yourself before you ask your questions. It's now my pleasure to invite our CFO up on stage to present the financial results. Dan, please. Good morning, everyone. Thank you for joining us today. It is a pleasure to share with you SCX Group's strong set of results for first half FY26. We delivered robust business growth and achieved our highest half-year revenue and earnings. Net revenue excluding Treasury income grew by 10% and adjusted earnings grew by 12%, continuing the strong momentum from the high base in FY25. Total net revenue grew by 8%, while adjusted expenses were up 4%. We will go through the detail in later slides. Our equities, cash, or SGX stock exchange revenue achieved a solid 16% growth, powered by market optimism and elevated investor interest from the EMRG tailwinds. Our currency and commodity derivatives segment demonstrated a strong growth trajectory led by IronOil's record half-year volume. SGXFX net revenue increased by 8%, with a record average daily value of US$180 billion, driven by sustained client acquisition and increased platform adoption. Treasury income declined mainly due to the global rate environment and collateral currency mix. We remain confident in delivering the medium-term targets that we set out at the start of FY25. SGX's multi-asset s...