Singapore Exchange: Growing Derivatives Business Thriving On Volatility, But Competition Risk Looms [Seeking Alpha]
SINGAPORE EXCH UNSP/ADR (SPXCY)
NASDAQ:AMEX Investor Relations:
investorrelations.sgx.com
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Source: Seeking Alpha
Singapore Exchange: Growing Derivatives Business Thriving On Volatility, But Competition Risk Looms Summary SGX's derivatives business has been the bright spot in recent quarters, due to increased volatility in financial markets and the increased weighting of China A-shares in MSCI indices. Hong Kong Exchanges' new MSCI China A Index futures could potentially take market share away from SGX's FTSE China A50 Index futures. I suggest an entry price of S$7.47 based on 20.5 times forward P/E providing a wider margin of safety to account for competition risks relating to China A50 Index futures. Elevator Pitch Singapore-listed Singapore Exchange Limited ( OTCPK:SPXCY OTCPK:SPXCF SGX's new dividend policy based on an absolute minimum amount starting FY2019 suggests earnings stability going forward attributable to the success of the company's multi-asset strategy focusing on derivatives, equities and fixed income products. Based on SGX's share price of S$7.97 as of July 11, 2019, it is tradi
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