The Group Securities and QNB Financial Services (QNBFS), a subsidiary of QNB, together accounted for more than 70% of the share trade turnover of the brokerages in the Qatar Stock Exchange this year.
Four of the seven stock brokerages witnessed gains in turnover on an annualised basis in January-December 2022, according to the Qatar Stock Exchange (QSE) data.
The Group Securities’ share stood at 37.74% in 2022 compared to 42.56% the previous year. Its trading turnover surged 17.35% year-on-year to QR124.53bn. The transactions through it expanded 25.51% on an annualised basis to 3.05mn, even as volumes fell 13.07% to 53.74mn equities at the end of December 2022.
The QNBFS' trade turnover amounted to QR107.48bn, which constituted 32.57% of the total traded value during 2022 against 31.59% a year ago. The turnover zoomed 36.43% year-on-year as volumes zoomed 36.41% to 15.06mn stocks on more than doubled transactions to 3.04mn in the review period.
The Commercial Bank Financial Services accounted for 12.72% of trade turnover compared to 8.23% during January-December 2021. The brokerage house's trade turnover more than doubled year-on-year to QR41.98bn as volumes soared 78.54% to 9.57mn shares and deals more than doubled to 1.14mn in the review period.
The Commercial Bank Financial Services last 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 the Group Securities and Commercial Bank Financial Services as liquidity providers, while saying other licences 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 7.22% of trade turnover during January-December 2022 compared to 6.8% the previous year period. The brokerage's trading turnover expanded 40.39% year-on-year to QR23.81bn although volumes through it fell 10.8% to 3.8mn equities despite 70% surge in transactions to 0.51mn at the end of December 2022.
Dlala Brokerage, a stock broking business arm of Dlala Holding, accounted for 4.31% of trade turnover (QR14.23bn), which grew 2.6% year-on-year. The brokerage’s share was 5.56% the previous year period. The deals through it expanded 22.73% on a yearly basis to 0.27mn but volumes shrank 37.22% to 4.2mn stocks at the end of December 2022.
Wasata Financial Securities' share was 3.69% of trading turnover during January-December 2022 compared to 2.92% in the comparable period of 2021. Its trade turnover zoomed 67.22% year-on-year to QR12.19bn as volumes shot up 21.57% to 3.72mn shares and transactions by 83.33% to 0.22mn at the end of 2022.
Al-Ahli Brokerage, a subsidiary of Ahlibank Qatar, saw its trade turnover expand 65.52% on an annualised basis to QR5.76bn, cornering a market share of 1.74% in 2022 compared to 1.4% a year ago period. The volumes handled by the banking subsidiary grew 25.53% to 1.18mn equities and deals through it more than doubled to 0.13mn during the review period.