Singapore is the third largest FX centre globally after London and New York, and is the largest in Asia Pacific. Everyday, over half a trillion US dollars of FX is traded in Singapore. The FX sector is pivotal to Singapore's standing as a major trading and corporate treasury hub in the region, and underpins the vibrancy of Singapore's international financial centre.
Sales and trading is the backbone of an investment securities firm. Be it a stock brokerage, investment bank or a hedge fund, if a firm cannot sell its services, then it is unable to do business, and if cannot trade well, then it becomes difficult to attract and retain clients.
The Singapore Exchange (SGX) has posted a net profit of $103.9 million SGD in the fourth quarter in 2019, up 24.1 per cent from the same period a year earlier. Revenue in the three months ended June 30 rose 16.5 per cent to $248 million SGD, led by record derivatives revenue of $130.1 million SGD, up 52.2 per cent from the same period a year earlier. Equities and fixed income revenue fell 9.4 per cent to $92 million SGD.
Employment of securities, commodities, and financial services sales agents is projected to grow four percent from 2018 to 2028, about as fast as the average for all occupations.