The higher turnover of the Egyptian Exchange (EGX) in July and the improving purchases of institutions helped EFG Hermes (through Financial Brokerage Group and Hermes Securities Brokerage) continue their top performance among brokerage companies in this period, as the market share of the firm rises to 33.5% of total transactions.
EFG Hermes’s Financial Brokerage Group ranked first among brokerage firms with total transactions of EGP 8.2bn through 31,300 operations, taking a market share of 26.8%, sup- ported by taking the lion’s share of institutions’ trading for two months in a row, where the company’s trans- actions for institutions reached EGP 8.04bn, accounting for 48.8% of institutions’ deals in July.
Commercial International Broker- age Company (CIBC) ranked second with EGP 2.5bn worth business, marking a market share of 8.2% of total transactions.
Karim Khadr, CI Capital’s head of brokerage, said the company is seek- ing to increase its market share in the retail market during the second half (H2) of this year, adding that the company’s expansion plan will be resumed as the capital market gradually improves.
Meanwhile, Hermes Securities Brokerage continued in third position with 45,400 transactions through 770.1m shares valued at EGP 2bn, ac- counting for 6.7% of the market trading, supported by its dominance over retail business, with a market share of 12.7% in July, valued at EGP 1.8bn.
Beltone Securities Brokerage ranked fourth after concluding EGP
1.5bn worth transactions, accounting for 5% of the market’s operations.
Arqaam Securities Brokerage advanced to fifth place in July with trans- actions of EGP 1.4bn through 26,500 operations on 143.3m shares.
Cherif Hechmat, managing director of Arqaam Securities Brokerage, said that the company aims to be among the top three positions in August, through expanding in the institutional market and well-qualified individuals with in- vestment portfolios similar to some of big institutions, using the company’s Dubai branch, which helps them control nearly 80% of the Gulf market shares.
Mubasher Trade Egypt and Pharos Securities Brokerage also moved up in the July rankings to sixth and seventh places, with transactions of EGP 1.03bn and EGP 961.1m, respectively.
Meanwhile, Pioneers Securities fell by one position from June, to rank eighth in July with transactions of EGP 961m through 38, 900 operations on 332. 1m shares, while SIGM A Capital Securities Brokerage ranked ninth with trading of EGP 875. 2m taking a market share of 2.9%.
Blom Egypt Securities jumped 12 spots to tail the top 10 companies in July by taking 2.1% of total market transactions, with business valued at EGP 627.5m.
Mohamed Fathalla, managing director at Blom Egypt Securities, said that the company is gradually seek- ing to move up the top-10 list to become a new success story on the market, noting that the company is completing the procedures for open- ing a new branch in Alexandria with the Financial Regulatory Authority, expecting the branch to be ready in two months.