Al Rajhi, Aljazira Capital top list of Saudi brokerages in May

Al Rajhi Capital has maintained the lead as the top brokerage firm operating in Saudi Arabia in May for the eighteenth straight month, data compiled by Argaam showed.

The brokerage accounted for 19.94 percent (SAR 33.46 billion) of total market transactions on the Saudi Stock Exchange (Tadawul) last month.

Aljazira Capital maintained the second place, accounting for 11.30 percent (SAR 18.96 billion) of total trading last month, followed by Alistithmar Capital with SAR 17.96 billion, while NCB Capital moved down to the fourth place with SAR 16.6 billion.

The total turnover amount is double the value disclosed by Tadawul, as brokerage firms take commission from both sellers and buyers.

The combined trading value of brokerage firms dropped by around SAR 48 billion month-on-month to SAR 167.81 billion in May.

On the Nomu Parallel Market, the number of brokerage firms stood at 23 in May.

Aloula Geojit Capital topped the list of brokerages operating on Nomu in May, moving up from the 12th place

Alistithmar Capital moved down to the fifth rank, brokering up to 8.12 percent (SAR 5.73 million) of total transactions on the parallel market.

Meanwhile, the number of brokerages working on exchange-traded funds (ETFs) in May dropped to 10 firms instead of 11 the previous month.

Falcom Financial Services was the leading firm for the month, accounting for 99.74 percent (SAR 278.29 million) of total trading.