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In the third quarter of 2004-05, the Securities & Futures Commission recorded a surplus of $45 million.
According to the commission's third quarterly report for the financial year 2004-05, the accumulated surplus for the first nine months of the financial year was $122 million.
Commission Chairman Andrew Sheng said based on current information and by keeping a tight rein on spending, the commission expected to continue to have a surplus in the final quarter to March 31.
The commission's total revenue for the first nine months was $456 million, up 23.5% over the same period last year owing to increased market turnover and activities.
Total expenditure, including depreciation, was $334 million, up 9.9% over the same period last year and close to the approved budget of $333 million.
At the end of December, the commission's reserves stood at $813 million, equivalent to 1.8 times the approved annual operating expenditure (including depreciation) of $443 million.
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