Hermes Brokerage tightens its grip on EGX trading in 1Q 2023

Fatma Salah
5 Min Read

Hermes Securities Brokerage controlled the main market transactions on the Egyptian Exchange (EGX), acquiring a large share of transactions during the first quarter (1Q) of this year, amounting to about 10%, with a turnover of EGP 28bn.

EFG Hermes International Securities Brokerage came in the runner-up with a 9.2% market share and a turnover of EGP 25.7bn, executing 207,700 transactions.

The Commercial International Brokerage Company settled in third place for the second quarter in a row, capturing a market share of 7.1%, with transactions worth EGP 19.9bn, executing 433,700 transactions.

Pioneers Securities ranked fourth for the second quarter in a row, with total transactions worth EGP 11.7bn, taking a market share of 4.2% of the market’s trading, with a large difference from the third place through operations carried out on 4.2 billion securities.

Mubasher for Securities and Bonds occupied a market share of 4.1% on transactions worth EGP 11.5bn, and Al-Ahly Pharos jumped 4 places to settle in the sixth place with transactions worth EGP 10.7bn, accounting for 3.8% of the total trading.

Arabeya Online Securities came seventh for the second quarter in a row, after acquiring 3.5% of the transactions, at a value of EGP 9.9bn.

Moataz Ashmawy, managing director of Arabeya Online Securities, revealed the company’s intention to open two new branches during the current year, and the first branch will be opened during the second quarter in Greater Cairo.

He added that the company is moving towards a greater transformation of technological solutions, and is heading to create an electronic trading application for the company, and it will be announced upon completion of its creation.

The company aims to reach the sixth or seventh place in the ranking of brokerage firms in terms of trading values on bonds and deals during 2023, and the fifth place during 2024, and the company’s share in the trading market reached 3.5%, with a volume of trading of EGP 3bn, according to Ashmawy.

He pointed out that the company is currently managing a number of OTC deals for major companies, in various sectors, on top of which the healthcare sector was.

OSTOUL Securities Brokerage and Bond Trading rose one position during the last quarter’s transactions, to settle in the eighth position, with transactions amounting to EGP 9.6bn, executing 377,900 transactions, with a market share of 3.4%.

Amr Abdo, the company’s managing director, said that OSTOUL was able to be present among the top ten companies in money market trading during the past January and February, and it is looking forward to maintaining this presence by seizing a larger market share during the coming period.

He pointed out that the company was able to increase the customer base by 30% during the past year, to currently reach 6,000 customers, and it is expected to achieve an increase of the same percentage by the end of 2023.

According to Abdo, the company aims to add two new branches in the cities of Alexandria and Mansoura during the second quarter of this year, and is awaiting the approval of the Financial Regulatory Authority to operate officially.

He told Daily News Egypt that the company is looking forward to expanding outside Egypt by being present in Saudi Arabia and the UAE by the end of this year, in an attempt to attract more foreign investments.

OSTOUL aims to increase the customer base by 30% by the end of this year, by opening more branches in the Egyptian and Gulf markets, according to Abdo.

Arqaam Securities Brokerage fell one position during the first quarter of this year, to come in ninth place with transactions amounting to EGP 9bn, through executions amounting to 625 million securities.

The Arab African International Securities jumped to catch up with the top 10, with transactions worth EGP 8.2bn, with a market share of about 2.9% through 96,000 transactions, including, in the session on 2 February, serving as a broker in a deal on 15 million shares of the Helwan Fertilizer Company, at a value of EGP 1.3bn.

Share This Article
Leave a comment