SGX Posts Slightly Weaker 4Q Result; Better Days Ahead
Narrow-moat Singapore Exchange's fourth quarter was below our more optimistic expectations, as we expected a stronger securities market in the third quarter to be sustained. On the contrary, securities turnover was fairly soft in the fourth quarter with daily average turnover of SGD 1.15 billion, compared with SGD 1.2 billion in the third quarter. While our more optimistic forecasts did not come to fruition, revenue improved for three consecutive quarters, with fourth-quarter revenue higher at S...Singapore Exchange is an investment holding company. Co. and its subsidairies are organised into three main business segments as follows: Securities market, which provides listing, trading, clearing, depository, market data, member services, connectivity, collateral management and issuer services; Derivatives market, which provides trading, clearing, market data, member services, connectivity and collateral management; as well as Other operations, which provides market data, connectivity and other services apart from those listed in the Securities market and Derivatives market segments. Co. and its subsidairies operate primarily in Singapore.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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