SGX revenue jumps 14% as IPO reforms and Nasdaq partnership boost listings

Following a suite of market reforms introduced in 2025, the Singapore Exchange announced a 14% rise in yearly revenue to $1.17 billion and a 24.6% jump in net profit for FY2026. The reforms, which included tax rebates for new issuers and a S$1.5 billion government infusion, helped attract 21 IPOs that collectively raised $3.2 billion, compared with just $20 million the year before. Central to the revival is a dual-listing arrangement with Nasdaq, called the Global Listing Board, which became operational on June 29 after parliamentary approval.

While no firm has yet committed to list, companies such as DayOne and Nxera are reportedly considering a dual IPO. SGX is also diversifying into fixed-income, currencies, commodities and plans to launch an OTC gold-clearing service to support Singapore's ambition as a gold-trading hub. Executives highlighted the broadened product suite and cross-asset liquidity as key to attracting global investors amid economic uncertainty.