(MENAFN- Gulf Times) The Group Securities and QNB Financial Services continued to dominate the brokerage business as they together contributed about 69% of the total trade turnover in the Qatar Stock Exchange in the first six months of this year, according to the bourse's data.
The Group Securities, a conventional brokerage firm, witnessed a robust jump in its share in the trade turnover on the QSE as volumes and transactions through it rose substantially in the review period.
The Group Securities’ share stood at 47% during January-June 2021 compared to 34% a year-ago period. It’s trading turnover more than doubled year-on-year to QR56.56bn at the end of June 2021. The transactions through it soared 59.98% to 1.28mn and volumes expanded 66% 35.54mn at the end of June 30, 2021.
The QNB subsidiary QNBFS' trade turnover amounted to QR21.31bn, which constituted 21.93% of the total traded value in the first six months of 2021 against 26.51% the year-ago period. The turnover expanded 23.84% year-on-year as transactions through it grew 25.23% to 517,011 and volumes by 18.26% to 5.57mn at the end of June 30, 2021.
CBQIS, the stock broking arm of Commercial Bank, accounted for 9.16% of trade turnover during January-June 2021 compared to 12.84% in the corresponding period of 2020. The brokerage’s trade turnover saw 6.78% yearly increase to QR11.02bn, while transactions shrank 1.72% to 298,232 despite 22.81% jump in volume to 2.8mn shares in the review period.
CBQIS early this year launched its margin trading product, becoming the first bank brokerage subsidiary in Qatar to launch such a product.
The Qatar Financial Market Authority had approved Group Securities and CBQIS as liquidity providers, while saying other licenses are on the pipeline. In May 2013, the financial market regulator had approved the liquidity provision scheme that can be carried out by the financial services firms.
Qatar Securities accounted for 7.77% of trade turnover in January-June 2021 compared to 8.36% the previous-year period. The broker’s trading turnover soared 38.99% year-on-year to QR9.34bn. The deals through it declined 8.59% to 152,600 despite an 8% jump in volume to 2.7mn stocks at the end of June 30, 2021.
Dlala Brokerage, a stock broking business arm of Dlala Holding, accounted for 7.4% of trade turnover (QR8.9bn), which rose 23.78% year-on-year in January-June 2021. The brokerage’s share was 8.95% the previous year period.
The transactions through it were down 1.86% on a yearly basis to 129,538 amidst a 87.91% surge in volume to 4.7mn shares at the end of June 30, 2021.
Wasata Financial Securities' share was 2.79% of trading turnover in the review period compared to 3.29% year-ago period. Its trade turnover rose 26.79% on a yearly basis to QR3.36bn. Through it, total transactions shot up 25.33% to 56,848 but volumes tanked 34.43% to 1.6mn equities.
The Gulf Investments Group's share stood at 1.92% of trading turnover (QR2.31bn), which grew 17.86% year-on-year in January-June 2021. There were a total of 35,224 transactions through it during the review period, representing a marginal 0.09% yearly rise amidst 32.26% expansion in volumes to 1.24mn stocks.
Al-Ahli Brokerage, a subsidiary of Ahlibank Qatar, saw its trade turnover shrink 15.81% to QR2.45bn, cornering a market share of 2.04% in January-June 2021 compared to 3.61% a year ago period. It registered 31.65% and 22.55% shrinkage in transactions and volumes respectively to 44,560 and 0.62mn equities in the review period.
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