Goldman Sachs tops Saudi brokerages list in June 2019

Goldman Sachs Saudi Arabia has taken the lead as the top brokerage firm operating in the Kingdom for the second time in a row in June 2019, data compiled by Argaam showed.

The brokerage accounted for 17.74 percent (SAR 26.54 billion) of total market transactions on the Saudi Stock Exchange (Tadawul) last month.

Al Rajhi Capital moved up to second place, accounting for 9.98 percent (SAR 14.93 billion) of total trading last month, followed by NCB Capital (SAR 14.04 billion) and then HSBC Saudi Arabia (SAR 10.52 billion). 

JP Morgan Saudi Arabia Limited and EFG Hermes KSA were also included among the top ten brokerage firms operating in Saudi Arabia in June.

The combined trading value of brokerage firms decreased by around SAR 70.3 billion month-on-month to SAR 149.6 billion in June.

On the Nomu Parallel Market, Falcom Financial Services topped the list of brokerages operating in June, brokering up to SAR 20.8 million of total transactions on the parallel market.

Meanwhile, the number of brokerages working on exchange-traded funds (ETFs) in June rose to 14, compared to 13 in May.

Falcom Financial Services was the leading firm for the month, accounting for 99.26 percent (SAR 244.3 million) of total trading compared to the previous month.