10 Stockbroking Firms Facilitate N103.4bn Transactions in One Month

Ten stockbroking firms facilitated the trading of 5.760 billion shares valued at N103.423 billion in the month of August, data released by the Nigerian Stock Exchange (NSE) has revealed.

A breakdown of the data showed that in value terms, the 10 brokers accounted for 76.9 per cent while in volume terms, they accounted for 53.32 per cent.

According to the NSE report, Stanbic IBTC Stockbrokers Limited led the chart in terms of value and volume. In volume terms, the firm traded N29.058 billion, which is 21.6 per cent. Rencap Securities (Nig) Limited traded N19.221 billion or 14.3 per cent, while EFCP Limited facilitated N15.262 billion, which is 11.3 per cent. FBN Quest Securities Limited facilitated N8.472 billion or 6.3 per cent whereas CSL Stockbrokers Limited traded N7.808 billion or 5.8 per cent.

Others were: Meristem Stockbrokers Limited, N6.510 billion(4.8 per cent); Chapel Hill Denham Securities Limited, N6.113 billion (4.5 per cent); United Capital Securities Limited, N4.9 billion, 3.6 per cent; Cardinalstone Securities Limited, N3.664 billion(2.7 per cent) and TRW Stockbrokers Limited, N2.404 billion(1.7 per cent.

A look at the performance in volume terms still showed Stanbic IBTC Stockbrokers as the leader with 1.349 billion shares, which translates to 12.4 per cent. TRW Stockbrokers Limited trailed with 760.331 million shares which is 7.0 per cent. Cardinalstone Securities Limited accounted for 625.56 million shares or 5.7 per cent. United Capital Securities Limited traded 514.58 million shares or 4.9 per cent. CSL Stockbrokers traded 514 million shares or 4.7 per cent.

Morgan Capital Securities facilitated 509 million shares or 4.7 per cent, just as Rencap Securities (Nigeria ) Limited traded 462.3 million shares or 4.2 per cent. EFCP Limited recorded 368.7 million, while FBN Quest Securities facilitated to 331.1 million shares. Greenwich Trust Limited traded 308 million shares or 2.8 per cent.

Stanbic IBTC has maintained its leading position on activity chart over the years.

The Chief Executive, Stanbic IBTC Stockbrokers Limited, Mrs. Titi Ogungbesan, once said the

most important characteristics that have endeared the firm to clients are integrity, professionalism and painstaking execution capabilities.

“For us, ensuring optimal value to clients is the first consideration in our service delivery. We pride ourselves in the high quality of our equities research backed up by a dynamic sales team. We also leverage on the expertise and experience of Stanbic IBTC Group and the relationship with our parent company, the Standard Bank Group,” she said. According to Ogungbesan, the firm does not only seek to execute transactions, it builds quality relationships with clients and other stakeholders, which is why investors naturally gravitate towards it. Equally important, she stated, is the fact that the broker continues to deploy cutting-edge technology to provide innovative products and excellent services in a way to boost investor confidence in the market.