Meristem Stockbrokers Limited facilitated the trading of 6.978 billion shares worth N338.611 billion on the Nigerian Stock Exchange in 2017, data released by the NSE have shown.
The performance in value terms was the second best among the top stockbroking firms operating in the market. Stanbic IBTC Stockbrokers Limited, a subsidiary of Stanbic IBTC Holdings, which is a member of the Standard Bank Group of South Africa, occupied the first position with N403.491 billion being the value of 15.375 billion shares handled by the firm.
While Stanbic IBTC accounted for 15.8 per cent of the value of shares traded last year, Meristem Stockbrokers accounted for 13.3 per cent. Market analysts said the performance of Meristem in particular was highly commendable considering the fact that it is company without the backing of any banking group or foreign or foreign affiliation.
The third position was occupied by CSL Stockbrokers Limited, which is subsidiary of FCMB Holdings. The firm traded N312.789 billion, being the worth of 12.871 billion shares. In value terms, CSL accounted for 12.3 per cent.
Rencap Securities Limited, a subsidiary of Renaissance Group, facilited N2334.624 billion that was staked on 9.696 billion shares, while Cordros Securities Limited traded N218.409 billion invested in 7 .321 billion shares.
FBN Quest Securities Limited, a subsidiary of First Bank Group, occupied the sixth position, facilitating the investment of N89.159 billion committed to 5.662 billion shares.
A.R.M Securities Limited transacted N84.668 billion that was invested in 5.806 billion shares, just as EFCP Limited traded N84.392 billion .
United Capital Securities Limited facilitated N81.960 billion, staked on 30.392 billion shares. Chapel Hill Denham Securities Limited occupied the 10 th position, recording N66.877 billion.
In all, the top stockroking firms accounted for N1.915 trillion being 75.23 per cent of the year’s transactions in value terms. And in volume terms, the top 10 broking firms accounted for N107.042 billion or 53.2 per cent.
In 2017, Meristem Stockbrokers Limited facilitated the single largest deal in the history of the Nigerian Stock Exchange.
ENDURANCE OKAFOR
