Ten stockbroking firms facilitated the exchanges of 51.621 billion shares worth N699.318 billion on the Nigerian bourse from January to April 2018, according to data obtained from the Nigerian Stock Exchange (NSE). In value terms, the 10 stockbroking firms accounted for 64.05 per cent, while in volume terms, they accounted for 49.36 per cent of the activities that took place in the market during the review period.
An analysis of the performance chart in volume terms showed that United Capital Plc led with 11.236 billion shares or 10.7 per cent, followed by CSL Stockbrokers Limited with 7.466 billion shares or 7.1 per cent. Stanbic IBTC Stockbrokers Limited accounted for 7.258 billion shares or 6.9 per cent, just as Cardinalstone Securities Limited traded 4.669 billion shares or 4.4 per cent. Apel Asset Limited recorded 4.209 billion shares or 4.0 per cent, while Rencap Securities Nigeria Limited accounted for 3.778 billion, which is about 3.6 per cent of the stocks traded in the period.
The remaining stockbroking firms among the top 10 are: Cordros Securities Limited ( 3.592 billion shares or 3.4 per cent); Reward Investment and Services Limited(3.492 billion shares or 2.8 per cent); Meristem Stockbrokers Limited (2.961 billion shares or 2.8 per cent); and Morgan Capital Securities Limited (2.956 billion shares or 2.8 per cent).
In terms of value, Stanbic IBTC Stockbrokers Limited led with N177.76 billion or 16.2 per cent, trailed by CSL Stockbrokers Limited with N138.155 billion or 12.6 per cent. Rencap Securities Limited recorded N100.734 billion or 9.2 per cent, while EFCP Limited accounted for N80.632 billion or 7.3 per cent. FBN Quest Securities Limited traded N48.413 billion or 4.4 per cent, just as Cordros Securities Limited accounted for N45.614 billion or 4.1 per cent.
Others included: United Capital Securities Limited (N33.024 billion or 3.0 per cent); Chapel Hill Denham Securities Limited (N27.936 billion or 2.5 per cent); Cardinalstone Securities Limited (N27.136 billion or 2.4 per cent) and Apel Asset Limited (N19.9 billion or 1.8 per cent).
Stanbic IBTC Stockbrokers Limited has remained consistent on the number position on the brokersâ€™ performance chart. In recognition this, Stanbic IBTC Stockrokers has won NSE Best Dealing Member firm award for the six consecutive years.
The Chief Executive, Stanbic IBTC Stockbrokers Limited, Mrs. Titi Ogungbesan, had explained that the most important characteristics that had endeared the firm to clients were integrity, professionalism and painstaking execution capabilities.
â€œFor 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,â€ Ogungbesan said.
According to her, the firm does not only seek to execute transactions, but it also builds quality relationships with clients and other stakeholders.