FBN Quest, Investment One, CSL Fail To Make Top Five Stockbroking Firms In Nigeria

FBN Quest Securities Limited, CSL Stockbrokers Limited and Investment One Stockbrokers International Ltd (formerly GTB Securities Limited) failed to make the top five performing stockbroking firms in Nigeria for H1.

They ranked below Cardinalstone, Apt Securities, Stanbic IBTC Stockbrokers, Meristem Stockbrokers Limited and EFG Hermes Nig. Limited, who made up the ranking, according to Nairametrics.

Stockbrokers are firms that buys and sells securities on a stock exchange on behalf of clients. There are over 100 stockbroking companies operating in Africa’s largest economy.

Cardinalstone Securities Limited topped the list after broking 72.19 billion units of shares within the first six months of this year, which is the highest volume of shares. The trades were valued at N510.76 billion.

Apt Securities and Funds traded N154.08 billion worth of stocks, to take the second spot on the top performing stockbrokers in Nigeria list for H1. It had brokered 5.69 billion units of shares.

Stanbic IBTC Stockbrokers Limited came third on the list after reporting that the company brokered 2.85 billion during the period under review, which is valued at N107.3 billion.

EFG Hermes Nig. Limited ended the first half of 2022 with N74.28 billion worth of trades, after sealing 2.09 billion on behalf of its clients between January to June to complete the top five performing stockbrokers.