Singapore Exchange Q4 profit up 24%

SGX wants to shorten the settlement cycle to two days from three, introduce simultaneous settlement of securities and cash, and ensure payments of Singapore dollar transactions will be carried through MAS Electronic Payment System instead of commercial banks.

SINGAPORE: Singapore Exchange Ltd (SGX)  reported a 24% rise in its quarterly net profit to the highest in two years and said it would focus on tackling the weak environment for new listings of companies.

SGX's net profit in the quarter ending June rose to S$96.2 million ($70.5 million), up from S$77.4 million a year ago.