Financial Brokerage Group regained its leadership in the market ranking during the third quarter (3Q) of this year, climbing two positions, as it accounted for 18.4% of the market transactions with a value of EGP 37.3bn.
Al Ahly Pharos Securities Brokerage ranked second for the second consecutive quarter, with a turnover of EGP 24.6bn, acquiring 12.2% market share through 94,000 transactions.
Commercial International Brokerage Company fell two places to the third after capturing 7.7% market share, with transactions amounting to EGP 15.5bn executed on 3.6 billion securities.
Hermes Securities Brokerage settled in the fourth place for the second consecutive quarter, with transactions amounting to EGP 11.8bn, and a market share of 5.9%, executed on 5.9 billion shares.
Mubasher International for Securities ranked fifth, with a 3.2% market share, and transactions worth EGP 6.4bn. Pioneers Securities came in sixth place after it jumped five positions. Its transactions amounted to EGP 5.9bn, acquiring 2.9% of the market.
Amer Abdel Qader, head of the brokerage sector for development at Pioneers Securities, said that the company is focusing on increasing its share of the transactions of individuals and institutions in the Egyptian market, especially after the institutions grabbed a large market share of the transactions in the last quarter.
He pointed out that the past quarter witnessed a positive movement in trading despite the economic tensions that still exist.
Abdel Qader expected that the remaining few months of the year and the first quarter of the next year would witness a boom in the market, coinciding with the Central Bank’s decision to fix interest rates, which reflected positively on the money market.
He pointed out that his company has been developing the technological infrastructure to increase the company’s share of online transactions, suggesting the company’s interest in profitability during the coming period.
Meanwhile, Prime Securities Brokerage ranked seventh, acquiring a 2.7% market share, with a turnover of EGP 5.5bn.
Beltone Securities Brokerage came in eighth place after it fell two positions during the quarter, with a trading value of EGP 5.3bn, acquiring 2.6% of the market.
Arabeya Online Securities ranked ninth, controlling 2.4% of the market, with a value of trades amounting to EGP 4.7bn. Arqaam Securities Brokerage fell five positions to tenth, with a market share of 2.4%, and EGP 4.7bn worth of transactions.
