• Monday, June 24, 2024
businessday logo

BusinessDay

Cardinalstone: Second best stockbroking firm by trade value metrics

Here’s what analysts expect from equites market after recent rally

Cardinalstone Securities Limited traded stocks valued at N143.6 billion on the Nigerian Exchange Limited (NGX) and emerged the second-best stockbroking firm by trade value metrics, according to the broker performance report released by the NGX at the close of trading on December 31, 2021.

In addition, the firm was number one by trade volume, executing more than 15billion units of shares in 2021.

The NGX report stated that Cardinalstone accounted for about 9percent of total trade volume and about 8percent of trade value in 2021.

As such CardinalStone has become one of the top 2 stockbroking Firms in Nigeria. This is a testament to the giant strides and growth achieved considering the firm finished in the Top 5 category just over a year ago.

Read also: W/Bank advocates investment in infrastructure, trade for growth in Lake Chad region

Speaking with the Managing Director of CardinalStone Securities Limited, Elile Olutimayin, she alluded to the fact that the Firm has leveraged on the synergy and relationships garnered across all of its business units and subsidiaries to drive transactions in Nigeria’s capital market, executing trade value above N140billion, this stands as its best-ever yearly performance on the NGX. She further described some major steps taken to achieve this position “During the year, we improved the quality of service to our clients, deepened our product offerings, and made significant progress in onboarding Strategic investors, foreign fund managers, and local asset managers.

What has placed us apart from others is the unique, insightful, and innovative trade ideas, robust investment research, and solutions we consistently churn out to clients, ensuring that our customers consistently meet their investment objectives despite the tough macro environment. Notably, we received the BusinessDay Banks and Other Financial Institutions Award for the category “Stockbroking Firm of the Year”.”

In 2021, CardinalStone Securities was at the front and center of some blockbuster deals on the local bourse, most notably executing historic trades in some of the heavyweight banking and Consumer Goods tickers.

Going into 2022, we do not intend to rest on our laurels, Elile stated that “we remain committed to the culture of excellence, trust, leadership and innovation that has served us well over the last decade. Also, our clients can be assured that we would continue to provide best-in-class services and innovative solutions that would enable them to meet their investment goals”