Goldman Sachs Saudi Arabia tops list of Saudi brokerages in May 2019

Goldman Sachs Saudi Arabia has taken the lead as the top brokerage firm operating in Saudi Arabia for the first time in May 2019, data compiled by Argaam showed.

The brokerage accounted for 18.56 percent (SAR 40.82 billion) of total market transactions on the Saudi Stock Exchange (Tadawul) last month.

HSBC Saudi Arabia moved up to second place, accounting for 9.41 percent (SAR 20.71 billion) of total trading last month, followed by Al Rajhi Capital (SAR 17.48 billion) and then Merrill Lynch KSA Co. (SAR 16.89 billion). 

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

The combined trading value of brokerage firms increased by around SAR 65.5 billion month-on-month to SAR 219.93 billion in May.

On the Nomu Parallel Market, Al Rajhi Capital topped the list of brokerages operating in May, brokering up to SAR 9.9 million of total transactions on the parallel market.

Meanwhile, the number of brokerages working on exchange-traded funds (ETFs) in May rose to 13, compared to 12 in April.

Falcom Financial Services was the leading firm for the month, accounting for 99.22 percent (SAR 407.9 million) of total trading compared to the previous month.