Singapore Exchange, the operator of the city-state’s securities and derivatives markets, said fourth-quarter profit fell 0.2% from a year earlier as trading volumes declined.
Net income dropped to $79.5 million, or 7.42 cents a share, in the three months ended June, from $79.6 million, or 7.43 cents a share, a year earlier, the company said in a statement today. Operating revenue slipped 1% to $160.6 million.
“We are pleased with our performance despite a difficult environment for markets globally,” Chief Executive Officer Magnus Bocker said in the statement.
A daily average of $1.46 billion worth of shares traded on the exchange in the three months, compared with $1.56 billion in the same period a year earlier, according to data compiled by Bloomberg.
Trading volume dropped on concern faltering US economic growth, China’s lending curbs and Greece’s worsening sovereign debt crisis will derail the global economic recovery.
Singapore’s benchmark Straits Times Index has fallen 3.1% from this year’s peak on Jan. 6.
Bocker is trying to boost trading with the introduction of American depositary receipts of Chinese companies in October and spending $250 million on a new order processor that may be the world’s fastest when it goes live this month. His most ambitious plan, the A$8.3 billion ($9 billion) offer to buy ASX, was blocked by the Australian government on April 8.
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