Singapore Exchange Ltd. ADR (SPXCY) Q2 2026 Earnings Call Transcript

Singapore Exchange Ltd. ADR (SPXCY) Q2 2026 Earnings Call February 4, 2026 8:00 PM EST

Company Participants

Liana Chue
Kok Yu Koh – Chief Financial Officer
Boon Chye Loh – CEO & Non-Independent Executive Director
Yao Loong Ng – Head of Equities
Pol de Win – Senior MD and Head of Global Sales & Origination
Hsien-Min Syn – President & Head of Global Markets

Conference Call Participants

Nicholas Lord – Morgan Stanley, Research Division
Harsh Modi – JPMorgan Chase & Co, Research Division
Thilan Wickramasinghe – Maybank Research Pte. Ltd.
Yong Hong Tan – Citigroup Inc., Research Division
Felicia Tan

Presentation

Liana Chue

Good morning, ladies and gentlemen, and a warm welcome to those joining us here in the auditorium as well as via the webcast. It’s my pleasure to welcome you to SGX First Half FY 2026 Results Briefing. We will begin in a while with a presentation of the financial results by our CFO, Mr. Daniel Koh. And following that, our CEO, Mr. Loh Boon Chye, will present the business updates. We will conclude with a Q&A session with SGX senior management. [Operator Instructions]

It’s now my pleasure to invite our CFO up on stage to present the financial results. Dan, please?

Kok Yu Koh
Chief Financial Officer

Good morning, everyone. Thank you for joining us today. It is a pleasure to share with you SGX Group’s strong set of results for first half FY ’26. We delivered robust business growth and achieved our highest half year revenue and earnings. Net revenue, excluding treasury income, grew by 10% and adjusted earnings grew by 12%, continuing the strong momentum from the high base in FY ’25. Total net revenue grew by 8%, while adjusted expenses were up 4%. We will go through the detail in later slides.

Our equities-cash or SGX stock exchange revenue achieved a

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