KUALA LUMPUR: BURSA MALAYSIA BHD [] posted net profit of RM40.5 million in the first quarter ended March 31, 2011, up 44% from RM28.1 million a year ago on higher trading revenues from its securities and derivatives trading activities.
It said on Tuesday, April 19 revenue rose 32% to RM116.11 million from RM88.11 million
Bursa Malaysia chief executive officer Datuk Tajuddin Atan said the strong performance in the quarter was largely due to the increase in trading revenues from its two core business activities; securities and derivatives trading.
'We see the return of positive market sentiments and high liquidity, as well as strong expectations from the various government transformation programmes contributing to an increase in trading activities in the securities market.
'For derivatives, we see the increase largely due to both the cutover of derivatives trading on to the CME Globex trading platform, as well as the increased volatility of commodity prices,' he said.
The securities market recorded an increase of 46% in trading revenue to RM57.7 million in the first quarter compared to RM39.6 million a year ago. Daily average trading value was higher at RM2.23 billion compared to RM1.53 billion in the same quarter last year.
Daily average trading volume increased to 65% to 1.73 billion for the period under review, compared to 1.05 billion for the first quarter of 2010.
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For the quarter ended 31 March 2011, market capitalisation stood at RM1.31 trillion, which was an increase of 24% from the corresponding quarter last year.'' Market velocity was at a high of 42%.
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'We are targeting velocity of 50% within two years, and if market conditions and sentiments remain as buoyant, I believe that we may reach this target even earlier,' said Tajuddin.
It said on Tuesday, April 19 revenue rose 32% to RM116.11 million from RM88.11 million
Bursa Malaysia chief executive officer Datuk Tajuddin Atan said the strong performance in the quarter was largely due to the increase in trading revenues from its two core business activities; securities and derivatives trading.
'We see the return of positive market sentiments and high liquidity, as well as strong expectations from the various government transformation programmes contributing to an increase in trading activities in the securities market.
'For derivatives, we see the increase largely due to both the cutover of derivatives trading on to the CME Globex trading platform, as well as the increased volatility of commodity prices,' he said.
The securities market recorded an increase of 46% in trading revenue to RM57.7 million in the first quarter compared to RM39.6 million a year ago. Daily average trading value was higher at RM2.23 billion compared to RM1.53 billion in the same quarter last year.
Daily average trading volume increased to 65% to 1.73 billion for the period under review, compared to 1.05 billion for the first quarter of 2010.
''
For the quarter ended 31 March 2011, market capitalisation stood at RM1.31 trillion, which was an increase of 24% from the corresponding quarter last year.'' Market velocity was at a high of 42%.
''
'We are targeting velocity of 50% within two years, and if market conditions and sentiments remain as buoyant, I believe that we may reach this target even earlier,' said Tajuddin.
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