atans1

SGX: One going, two more to go

In Uncategorized on 26/02/2015 at 1:42 pm

Well the Foreign Trash that is CEO is leaving soon. Here’s how another FT describes his tenure

It’s been a tough five years for Bocker. The Australian government blocked his attempt to expand by buying rival ASX for $8.3 billion in 2010. A penny-stock scandal in 2013 hit trading volumes, while technical glitches brought trading to a halt twice in a single month last year, drawing fire from city-state’s central bank. During the 53-year old’s tenure, SGX shares have lagged Singapore’s benchmark stock index, rising just 3.3 percent.

The main drag has been the securities business which now accounts for less than one third of SGX’s revenue. The average daily value of shares traded is close to its lowest level in five years. Though SGX has cut clearing fees, volumes have not risen sufficiently to compensate. The division’s revenue was 16.9 percent lower in the six months to the end of December compared to the same period a year earlier.

A new drive to establish direct connections with other exchanges in southeast Asia and beyond is unlikely to provide any material boost. Meanwhile, up-and-coming neighbours are eating away at SGX’s share of initial public offerings. Despite Thailand’s military coup, new listings in Bangkok raised more money than in Singapore last year.

http://blogs.reuters.com/breakingviews/2015/02/25/singapore-exchanges-next-ceo-faces-ho-hum-job/

The other two Foreign Trashes, the president and head tech should be sent packing too ASAP.

  1. No worries man, FT still getting a few million dollars farewell package. In addition to all the other millions he collected over past 5 yrs. Not quite golden parachute, maybe silver parachute, but still better than dumbo Sinkies who let themselves be fucked by all these FTrashes and still happy about it and wanting more.

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