S68.SI
SGX50SESSingapore Exchange Limited
Financial Services · Financial Data & Stock Exchanges · Singapore
Singapore Exchange Limited, an investment holding, engages in the operation of integrated securities and derivatives exchange, related clearing houses, and an electricity market in Singapore. It operates through Fixed Income, Currencies and Commodities; Equities Cash; Equities Derivatives; and Platform and Others segments. The company offers treasury management; management and administrative services to related corporations; market data and technology connectivity services; fixed income issuer, derivatives and securities trading, clearing, securities settlement, and collateral and depository management services. It also provides various services associated with the platform businesses, including market data, connectivity, indices, and membership subscription. In addition, the company is involved in the provision and distribution of bulk freight market indices and information, index administration and related services, and operation of electronic foreign exchange (FX) trading solutions and platforms; operation of an electronic communication network; and provision of counterparty guarantee, depository, and related services for securities transactions. Further, it offers front-line regulatory function, management consultancy services of index activities, and FX pricing and risk solutions; membership services; financial services for dealing, trading, and clearing of financial instruments; and computer and software maintenance services, as well as administration services for index calculation, risk analyses, and financial research. Singapore Exchange Limited was incorporated in 1999 and is headquartered in Singapore.
www.sgx.com ↗Shares trade at a premium 39.4× trailing earnings, easing to 31.9× on forward estimates. Profitability shows a net margin of 45.7% and return on equity of 30.1%. Leverage is modest at -1.7× net debt/EBITDA. Revenue grew 7.9% year-on-year. It yields 1.9% in dividends. The mean analyst target of SGD21.67 sits 9.9% below the current price (Buy, 15 analysts).
business model
Singapore Exchange (SGX) is a vertically integrated multi-asset exchange operating securities and derivatives trading, clearing, settlement, depository, market data and index services. It earns from trading and clearing fees, listing fees, and recurring data/connectivity revenue, reporting in SGD.
revenue segments
Segments include Fixed Income, Currencies and Commodities (led by iron-ore and FX futures), Equities (cash equities plus equity derivatives such as FTSE China A50 futures), Data, Connectivity and Indices, and Platform and other services. Derivatives and FICC have become growing contributors alongside traditional cash-equity revenue.
key dependencies
It depends on trading volumes, market volatility, licensing arrangements for benchmark derivatives (e.g., China A50), new listings, and the health of its clearing and depository infrastructure. The transition of Nifty derivatives to NSE IX GIFT City altered part of its equity-derivatives mix.
competitors
It competes with regional and global exchanges including Hong Kong Exchanges (HKEX), other Asian bourses, CME and ICE in derivatives, and alternative trading and OTC venues for liquidity.
moat
Its moat comes from a domestic monopoly on Singapore securities trading/clearing, network effects and liquidity concentration in flagship derivatives (iron ore, China A50), and a vertically integrated infrastructure that is costly to replicate.
risks
Risks include competition for derivatives liquidity, reliance on benchmark licensing agreements, weak Singapore equity listing activity and low cash turnover, regulatory change, and technology/operational resilience.
Financials & metrics
as of 04 Jul 2026Price is closer to the high end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
Tap any metric for an explanation.● provider● computedN/A not available from source
Income-statement history isn't available for this security.
Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.