The banks’ brokerage subsidiaries by and large saw their share in the overall trade turnover expand considerably in the Qatar Stock Exchange in January, according to the bourse’s data.
The Group Securities and QNB Financial Services together accounted for 67.13% of the share trade turnover of the brokerages in January 2022 compared to 66.26% in the previous-year period.
The Group Securities’ share stood at 39.16% in January this year compared to 41.91% the previous-year period. Its trading turnover rose 13.83% year-on-year to QR9.3bn. The transactions and volumes through it however declined 1.57% and 13.28% to 2.03mn equities and 4.18mn at the end of January 31.
The QNB subsidiary QNBFS' trade turnover amounted to QR6.64bn, which constituted 27.97% of the total traded value in January against 24.35% a year-ago period. Turnover expanded 31.23% year-on-year as volumes rose 0.93% to 1.08mn stocks and transactions through it shot up 75.12% to 1.67mn in the review period.
CBQIS, the stock broking arm of Commercial Bank, accounted for 12.38% of trade turnover in January 2022. The brokerage house's trade turnover saw a stupendous 80.37% yearly jump to QR2.94bn as volumes zoomed 76.19% to 0.74mn equities and deals by 50.41% to 55,196 in January 2022.
CBQIS 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 CBQIS as liquidity providers, while saying other licences were in 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 9.28% of trade turnover in January 2022 compared to 10.83% the previous year period. The broker’s trading turnover nevertheless fell 2.22% year-on-year to QR2.2bn as volumes through it plummeted 40% to 0.36mn shares despite 10.66% higher transactions at 34,351 at the end of January 2022.
Dlala Brokerage, a stock broking business arm of Dlala Holding, accounted for 4.66% of trade turnover (QR1.11bn), which plummeted 31.91% year-on-year in January 2022. The brokerage’s share was 7.82% in the previous-year period. The deals through it shrank 3.32% on a yearly basis to 20,078 and volumes by 53.73% to 0.31mn stocks as on January 31, 2022.
Wasata Financial Securities' share was 5.48% of trading turnover this January compared to 2.65% in the comparable period of 2021. Its trade turnover more than doubled year-on-year to QR1.3bn on an 85.71% surge in volumes to 0.39mn equities and 81.51% in transactions to 17,470 at the end of January 31, 2022.
Al-Ahli Brokerage, a subsidiary of Ahlibank Qatar, saw its trade turnover more than halve year-on-year to QR0.26bn, cornering a market share of 1.08% in January 2022 compared to 2.52% a year-ago period. The volumes handled by the banking subsidiary also halved to 0.06mn equities and deals through it shrank 44.11% to 4,521 during the review period.
Related Story