By Dipo Olowookere
Business Post has got list of the biggest stockbroking companies operating in the country. These firms in the local capital market help investors execute transactions in the space.
The list was obtained from their year-to-date performance as compiled by the Nigerian Stock Exchange (NSE).
The list comprises the performances of the brokerage firms by volume and value of transactions they executed from January 2019 to May 2019 as earlier indicated.
During the first five months of this year, the nation’s 10 biggest stockbroking firms contributed 55.31 percent to the total volume of transactions recorded in the period under review, which stood at 39.092 billion.
By the volume of shares traded through the top 10 firms, Greenwich Trust Limited took the first position, contributing 9.83 percent to the 55.31 percent the top 10 brokers contributed to the total volume of transactions recorded in the period under review. A total of 6.947 billion shares were bought and sold through the company.
On the second position is Stanbic IBTC Stockbrokers Limited, which traded 6.772 billion units of stock, accounting for 9.58 percent, while Cardinalstone Securities Limited occupied the third spot with 4.195 billion shares, representing 5.93 percent.
On the fourth position is Rencap Securities (Nig) Limited, which transacted 4.077 billion shares (5.77 percent) in the period under consideration, while the fifth place was held by CSL Stockbrokers Limited, which traded 4.056 billion (5.74 percent).
The sixth biggest brokerage firm in Nigeria by volume is Chapel Hill Denham Securities Limited, which traded 3.440 billion stocks (4.87 percent), the seventh is Morgan Capital Securities Limited with 3.150 billion (4.46 percent), while the eighth is FBN Quest Securities Limited a turnover of 2.265 billion shares (3.20 percent).
On the ninth position is Meristem Stockbrokers Limited with a turnover of 2.156 billion shares (3.05 percent), while the tenth is EFG Hermes Nigeria Limited with a turnover of 2.035 billion equities (2.88 percent).
But by value, the 10 underlisted companies contributed N537.966 billion or 68.60 percent of the total trades from the beginning of 2019 till May 31, 2019.
On the top spot is Stanbic IBTC Stockbrokers, which added 17.21 percent or N135 billion to the total value of transactions on the NSE.
Rencap Securities is the second on the list with N95.543 billion or 12.18 percent, while the CSL Stockbrokers is third with N59.081 billion or 7.53 percent.
Coronation Securities claimed the fourth spot with N52.838 billion or 6.74 percent, while EFCP Limited is fifth with N52.700 billion or 6.72 percent.
Chapel Hill Denham Securities took the sixth spot with N34.784 billion or 4.44 percent, seventh is EFG Hermes with N33.956 billion or 4.33 percent, the eighth is FBN Quest Securities with 30.438 billion or 3.88 percent, the ninth is Cardinalstone Securities with N28.564 billion or 1.92 percent, while the tenth position was filled by Meristem Stockbrokers with N15.063 billion or 1.92 percent.
