SGX is Singapore's only integrated securities and derivatives exchange, making its business difficult to replicate.
It earns recurring revenue from trading, clearing, market data, listings, and custody services.In recent years, SGX has reduced its reliance on cash equity trading by expanding its FX, commodities, and derivatives businesses.Its latest results showed continued growth in these higher-margin segments, helping offset lower treasury income.SGX has a long history of paying dividends.Management has also guided for gradual quarterly dividend increases through FY2028, making it attractive for income-focused investors.
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