Here are Nigeria’s top stockbroking firms by value, volume in 9 months
…As only 10 brokers trade shares worth N683.3bn
From January 1 to September 30, 2021, only ten stockbroking firms in Nigeria’s capital market traded equities valued at about N683.3billion, according to the recent Broker Performance Report.
In term of value traded, the top ten stockbroking houses led by Stanbic IBTC Stockbrokers Limited were responsible for 51.03percent of the total value traded in review period.
Out of the N683.3billion, Stanbic IBTC Stockbrokers accounted for N151billion or 11.28percent; followed by Cardinalstone Securities Limited (N88.31billion or 6.59percent), and Rencap Securities (Nig) Limited (N82.28billion or 6.15percent).
Further check shows that in nine months to September 30, One Investment One Stockbrokers International Limited traded stocks valued at N77.913billion or 5.82percent of the total value of stocks traded in the market same period; while Meristem Stockbrokers Limited joined the top 10 league after it exchanged equities worth N65.299billion, representing 4.88percent of the total value of shares traded on the Exchange in same period.
Others members of the top ten league by value of shares they exchanged are: Hermes Nigeria Limited (N58.169billion or 4.34percent); FBN Quest Securities Limited (N47.498billion or 3.55percent); ABSA Securities Nigeria Limited (N43.628billion or 3.26percent), WSTC Securities Limited (N37.238billion or 2.78percent); and Cordros Securities Limited (N31.935billion or 2.38percent).
On volume of shares, only ten stockbrokers were responsible for 52.578billion shares representing 41.98percent of the total volume of shares exchanged in the same nine months.
In this case, Morgan Capital Securities Limited topped others after trading 9.7billion units, representing 7.75 percent of the total volume of stocks exchanged on the Bourse from January 1 to September 30.
It was followed by Cardinalstone Securities Limited which traded 9.094billion shares, representing 7.26percent of the period’s total traded stocks.
Others are: Meristem Stockbrokers Limited (7.579billion units or 6.05percent); Stanbic IBTC Stockbrokers Limited (6.117billion units or 4.89percent); Atlass Portfolios Limited (4.038billion units or 3.22percent); and Fbn Quest Securities Limited (3.988billion shares or 3.18percent).
Also on the top ten league by volume are: GTI Securities Limited (3.53billion shares or 2.82percent of the total traded on the Bourse same period); United Capital Securities Limited (2.957billion units or 2.36percent); APT Securities and Funds (2.861billion units or 2.29percent); and Greenwich Trust Limited which traded 2.708billion shares, representing 2.16percent of the total shares traded on the Nigerian Exchange Limited (NGX) in same nine months.