Cardinalstone Securities Limited, Stanbic IBTC Stockbrokers Limited, APT Securities and Funds, and seven other firms have emerged as the top-performing stockbroking firms in Nigeria, having traded shares worth 66.02 percent of the value of transactions on the trading floor of the Nigerian Exchange Limited (NGX) in 2022.
According to the annual broker performance report for 2022, the 10 firms traded N1.54 trillion worth of stocks in the year.
The other biggest stockbroking firms by value are Meristem Stockbrokers Limited, EFG Hermes Limited, Cordros Securities Limited, CSL Stockbrokers Limited, Chapel Hill Denham Securities, FBN Quest Securities Limited and Investment One Stockbrokers.
Cardinalstone Securities led the pack, having traded stocks worth N571.5 billion. This represents 24.46 percent of the entire value of shares traded on the floor of the exchange in 2022.
It also retained its position as the biggest stockbroker by volume with 76.63 billion units of shares, which represent 37.94 percent of the total volume traded in the year.
Stanbic IBTC Stockbrokers followed, with a total value of N183.86 billion worth of shares traded in 2022, accounting for 7.87 percent of the total shares traded on the exchange.
In terms of volume traded, Stanbic IBTC traded 5.03 billion units of shares, accounting for 2.49 percent of the total shares traded in the stock market in 2022.
APT Securities and Funds came third with a total traded stocks worth N179.1 billion, accounting for 7.67 percent of the total value of shares traded in 2022.
The firm traded 6.87 billion units of shares, accounting for 3.40 percent of the total volume on the NGX.
Meristem Stockbrokers Limited accounted for 5.10 percent of the total value of shares recorded in the period with N119.2 billion worth of shares traded, an improvement from the N89.46 billion recorded in 2021.
In terms of volume, the firm traded 5.06 billion units of shares in 2022, accounting for 2.51 percent of the total volume of transactions on the NGX.
EFG Hermes Limited traded stocks worth N115.7 billion in 2022, accounting for 4.95 percent of the total value of stocks traded in the year.
The firm accounted for 1.63 percent of the total volume, having brokered a total of 3.29 billion units of shares.
Cordros Securities Limited traded stocks worth N103.04 billion and accounted for 4.41 percent of the total value of shares traded in 2022.
According to the NGX, the firm traded 5.68 billion units of shares, accounting for 2.81 percent of the total volume.
CSL Stockbrokers Limited accounted for 3.66 percent of the total value of shares recorded in the period with N85.60 billion worth of shares traded.
In terms of volume, the firm traded 5.99 billion units of shares in 2022, accounting for 2.97 percent of the total volume of transactions on the NGX.
Chapel Hill Denham Securities traded N79.14 billion or 3.39 percent worth of equities. The firm also traded 8.81 billion units of shares, accounting for 4.36 percent of the total shares traded in the stock market in 2022.
FBN Quest Securities Limited traded shares valued at N68.64 billion, accounting for 2.94 percent of the total value of stocks traded in the year.
Investment One Stockbrokers completed the list with trades in stocks worth N41.23 billion, which accounted for 1.76 percent of the total value recorded in the year.
