Although the research house has kept FY18 earnings forecasts largely intact, it has revised its FY19 earnings downwards to account for a potential hit to the bourse’s derivatives business, which accounted for about 40% of group revenue over 9M18.
SINGAPORE (June 1): OCBC Investment Research is maintaining its “buy” call on Singapore Exchange (SGX), while dropping its fair value to $7.89 from $8.22 previously.
This is to account for the bourse’s current legal tussle with the National Stock Exchange of India (NSE) over its planned launch of new India derivatives products.
