On September 30, 2024, the Nigerian Exchange Group (NGX) released a report showcasing the top-performing stockbrokers in Nigeria for the third quarter of 2024, ranking them based on both the volume and value of trades executed on their platforms.
The top ten stockbrokers on the list collectively accounted for 46.92% of the total trading volume on the NGX. More notably, they commanded 57.63% of the total transaction value during the quarter.
The report reveals that these ten firms facilitated 37.2 billion shares in trades and contributed a remarkable N848.4 billion to the quarter-to-date total, underscoring their significant role in the Nigerian equities market.
For this analysis, value was considered a more accurate measure of performance than volume. While volume tracks the number of shares traded, value considers the price of those shares, providing a more comprehensive picture of a stockbroker’s size, client base, and overall business performance.
Based on the value of shares…