On July 31, the Nigerian Exchange Group (NGX) released a report detailing the top-performing stockbrokers in Nigeria.
The report highlighted the ten companies based on the volume and value of deals executed on their platforms.
The selected stockbrokers accounted for 42.7% of the total trading volume on the NGX. In terms of transaction value, they represented a significant 55.2% of the total value of all trades executed by Nigerian stockbrokers.
The report reveals that these ten companies facilitated transactions involving approximately 66.9 billion shares year-to-date (YTD). In monetary terms, they collectively accounted for N1.72 trillion in traded value YTD.
For the purpose of this analysis, value is considered a more accurate metric than volume. This is because value accounts for the price of shares traded, providing a clearer picture of the scale of the stockbroker, the type of clients served, and business performance.
Top 10 Stockbrokers by Value of Transactions
Based on the value of shares transacted, here are the top 10 stockbrokers in Nigeria YTD as of July 31, 2024:
10. Chapel Hill Denham Securities Ltd.
Chapel Hill Denham ranks 10th on the list, transacting shares worth N92.51 billion in value as of July 31, 2024. The firm contributed 2.98% to the total value of trades executed by stockbrokers in Nigeria.
9. FBN Quest Securities Limited
FBN Quest Securities is in the 9th position, with a total value of N95.00 billion in stock transactions from January 1, 2024, to July 30, 2024. This represents 3.06% of the value traded by Nigerian stockbrokers within the reported period.
8. CSL Stockbrokers Limited
CSL Stockbrokers Limited is in the 8th position, having facilitated trades worth N102.96 billion YTD as of July 31, 2024. This accounts for 3.31% of the total value traded by stockbrokers in Nigeria.
7. Meristem Stockbrokers Limited
Meristem Stockbrokers ranks 7th, with a trading value of N104.90 billion from January 1, 2024, to July 31, 2024. This constitutes about 3.38% of the total value of transactions executed by Nigerian stockbrokers YTD.
6. Cordros Securities Limited
Cordros Securities Limited is 6th on the list with transactions valued at N113.36 billion YTD as of July 31, 2024. The broker contributed 3.65% to the total trading value of all stockbrokers YTD.
5. EFG Hermes Nigeria Limited
EFG Hermes ranks 5th, based on the value of N139.33 billion worth of transactions executed on its platform YTD. The stockbroker accounts for 4.48% of the total value traded by all Nigerian stockbrokers from January 1, 2024, to July 31, 2024.
4. APT Securities and Funds Limited
APT Securities occupies the 4th position with a transaction value of N179.11 billion YTD as of July 31, 2024, making up 5.76% out of the total value of transactions obtained from Nigerian stockbrokers.
3. United Capital Securities Limited
United Capital Securities is in the 3rd position with a YTD transaction value of N276.85 billion as of July 31, 2024. The broker’s trading value represents 8.91% of the total value of transactions by Nigerian brokers.
2. Stanbic IBTC Stockbrokers Limited
Stanbic IBTC Stockbrokers is the 2nd highest-performing broker on the list at a value of N305.10 billion.
This accounts for 9.82% of the total value of transactions carried out by Nigerian stockbrokers YTD as of July 31, 2024.
1. CardinalStone Securities Limited
CardinalStone Securities tops the list, achieving the highest value of transactions on its platform between January 1, 2024, and July 31, 2024.
At N319.18 billion, its transactions represent 10.27% of the total value traded by Nigerian brokers. CardinalStone also ranks number 1 in terms of volume, with 13.9 billion shares exchanged YTD, accounting for 8.92% of the total volume recorded.
These rankings reflect the robust performance and market influence of these brokers in Nigeria’s financial markets, highlighting the top players by transaction value and their market share as of July 31, 2024.
