SGX Group reported robust financial performance with revenue increase of 11.7% to $1,298 million and net profit after tax growth of 15.9% to $610 million in fiscal 2025. The exchange is pursuing an ambitious push into new products including crypto derivatives and a Nasdaq dual-listing tie-up. With strong multi-asset revenue diversification and strategic partnerships driving growth, SGX maintains competitive positioning as a premier Asian exchange with differentiated global reach.
Cyborg Score Rationale
SGX achieved record revenue and profit with equities cash revenue surging by 19% and derivatives daily average volume increasing by 17.2%. The Nasdaq partnership to launch a global listing board is due to kick off in mid-2026. However, the exchange is expected to grow at only about the rate of the wider industry despite its strong execution.
Top Insights
FY2026 half-year results show adjusted net profit after tax up 12% to SGD 357 million on 8% revenue growth.
SGX derivatives arm announced launch of bitcoin and ether cryptocurrency perpetual futures trading.
Nasdaq-SGX partnership will create streamlined dual-listing pathways launching mid-2026.
Analysts predict revenues of S$1.46b in 2026 with per-share earnings expected at S$0.65.
Named Competitors
HKEX — Asia-Pacific's leading exchange platform
JPX — Asia's largest equity trading center
CME Globex — Global derivatives marketplace
Nasdaq — Technology-focused exchange with global reach
Recent Developments
(February 2026) FY2026 half-year adjusted net profit growth of 12% with 8% revenue increase
(January 2026) FY2025 record revenue of $1.298B and NPAT growth of 15.9%
(Late 2025) Crypto derivatives launch and Nasdaq global listing board partnership announcement
(December 2025) Stock price near 52-week high with 30-32% annual appreciation
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