The Nigerian Stock Exchange, NSE, have traded N579.5 billion worth of equities from 4th January till 31st October 2016, with Stanbic IBTC Stockbrokers Limited, and nine other stock broking firms on
The top ten stockbrokers were responsible for 58.98 percent of the total value traded for the review period, Worldstage reports.
An analysis of the 10 broking firms showed that Stanbic IBTC Stockbrokers Limited led the chart accounting for N132.5 billion or 13.49 percent.
Rencap Securities (Nig) Limited followed with N104.46 billion (10.63 percent) while EFCP Limited occupied the third position with N91.7billion (9.34 percent).
CSL Stockbrokers Limited closed the 10 months as the fourth top broking firm, accounting for N77.5 billion(7.89 percent), just as FBN Securities Limited traded N44.59 billion(4.54 percent) to occupy the fifth position.
Greenwich Trust Limited traded N34.8 billion (3.54 percent) to be the sixth best broking firm, while Chapel Hill Denham Securities Ltd occupied the seventh position with N29.3billion(2.98 percent).
A.R.M Securities Limited accounted for N21.8 billion (2.22 percent), just as Cardinalstone Securities Limited (2.21 percent) and African Alliance Stockbrokers Ltd (2.15 percent) traded equities valued at N21.7 billion and N21.1 billion to occupy the ninth and tenth positions respectively.
The firms’ transactions in equities were from inflow of Foreign Portfolio Investors (FPIs), local institutional investors and equity exposure in mutual funds.
Their major clients are foreign portfolio investors, while a few of them have significant equities exposure through their collective Investment Schemes (CIS) or mutual funds through which they access trading volumes weekly.
