Singapore Exchange Ltd (SPXCF) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Very good evening to everyone joining us here today, both in person and via the webcast. I'm Liana from Investor Relations. Welcome to SGX Group's FY2026 Full Year Results Briefing. In a while, I will invite our CFO, Mr. Daniel Koh, to present the financial highlights, followed by our CEO, Mr. Lobun Chai, who will present the business updates. Following the presentation, we will have a Q&A session with SJX Senior Management. Please introduce yourself before you ask your questions. It's now my pleasure to invite Dan to present the financial results. Dan, please. Good evening, everyone. Thank you for joining us here today. It is a real pleasure to share with you SGX Group's standout performance for financial year 2026. We achieved another milestone year, delivering our highest ever full-year revenue and earnings. Net revenue grew by 14% and adjusted earnings grew by 25%, continuing the strong momentum from a high base in FY25. Net revenue for our equities cash business or SCF stock exchange grew significantly by 28% as the securities daily average value rose 35% to its highest level in 18 years. This strong performance was built on structural market changes and focused execution. SGXFX delivered another record year with net revenue increasing 12% on average daily volume of US$190 billion, driven by client expansion and platform innovation. Currencies and commodities continue its strong growth trajectory, led by record volumes of several products including CNH and INR currency futures, iron ore, freight, petrochemicals and dairy contracts. Equity derivatives net revenue was comparable maintaining momentum from a record high base last year as our flagship China and India index franchises continued to capture risk management needs. Expenses increased by approximately 6% a...