Singapore Exchange reported record full-year results as a government stimulus package and tax incentives fueled a sharp rebound in stock market debuts, driving net profit up 24.6% in fiscal year 2026.<\/p>\n
Revenue for the bourse jumped 14% to $1.17 billion, supported by 21 new listings that raised $3.2 billion in equity capital. That represents a stark turnaround from the prior financial year, when six listings generated just $20 million.<\/p>\n
\u201cWe achieved a milestone year, delivering our highest ever full year revenue and earnings,\u201d Daniel Koh, chief financial officer of SGX, said during a results briefing on Aug 6. \u201cThis strong performance was built on structural market changes and focused execution.\u201d<\/p>\n
The financial recovery follows sweeping market reforms introduced in 2025, which included tax rebates for newly listed companies and a government-led injection of 1.5 billion Singapore dollars into local equities to reinvigorate market liquidity.<\/p>\n
Building on the momentum, SGX operationalized its Global Listing Board on June 29 following parliamentary legislation. The dual-listing framework, developed in partnership with U.S. exchange operator Nasdaq<\/a>, allows growing enterprises to issue shares on both platforms simultaneously using one set of offering documents.<\/p>\n While no issuers have formally confirmed debuts, data center operator DayOne and Singtel-backed Nxera are weighing dual IPOs in the U.S. and Singapore.<\/p>\n \u201cThe Global Listing Board is now operationally ready,\u201d Pol de Win, SGX\u2019s head of global sales and origination said during the results briefing. \u201cA number of companies have started preparations to list on it, and we hope that translates into actual listings in the remainder of the year.\u201d<\/p>\n Boon Chye Loh, chief executive officer of SGX, emphasized the strategic focus of the mechanism. \u201cThe dual listing substantially reduces the friction for companies which want to access global capital,\u201d Loh explained. \u201cIn particular, our focus is on high-growth companies with a nexus to Asia.\u201d<\/p>\n Alongside the equity revival, the exchange expanded its fixed income, currencies, and commodities division\u2014a multi-year diversification effort launched in FY2016. SGX recorded heightened trading activity in Asian debt securities and Japanese interest rate products.<\/p>\n \u201cWe\u2019ve launched five Asian government bond contracts; they\u2019re fairly unique and we hope to grow them,\u201d Michael Syn, president of SGX, said during the results brief, noting the exchange was also getting \u201cquite significantly sucked\u201d into the Japanese interest rate market following the introduction of 20-year Japanese Government Bonds and short-term interest rate contracts.<\/p>\n The bourse is also moving forward with plans to establish an over-the-counter gold clearing platform for physical gold vaulted in the city-state by the end of the year, an initiative outlined by Singapore politician Gan Kim Yong at the Asia-Pacific Precious Metals Conference in June.<\/p>\n \u201cIt\u2019s not just a futures contract in gold,\u201d Syn explained. \u201cWe\u2019re helping the Monetary Authority of Singapore<\/a> and gold bullion providers create a complete, local ecosystem, which includes physical gold clearing, vaulting, as well as gold warrants, futures and derivatives.\u201d<\/p>\n Addressing the broader macroeconomic backdrop, Loh noted that \u201cGlobal investors are seeking cross-asset solutions and more efficient ways to manage their risk,\u201d concluding that \u201cThe deep and diverse liquidity across our franchise anchors them.\u201d<\/p>\n