Performance of Brokerage Companies Enumerated

EghtesadOnline: Brokerage companies handled 4,525 trillion rials ($37 billion) worth of stock market trade during the first eight months of the current fiscal year (March 21, Nov. 21) and 29% of the total was processed by five firms.

News ID: ۷۸۵۰۹۰

03 December 2019

According to a report published on the Tehran Stock Exchange website, Mofid Securities Company was the leading brokerage, processing 13% of trade.

It was followed by Agah Brokerage at 7 %, Pasargad Brokerage Company 3.87%, Farabi Brokerage Company  3.24% and Hafez Brokerage Company 2.55%.

Out of 107 brokerage companies in the stock market, 104 processed online trade in eight months, according to Financial Tribune.

Online trade worth 2,436 trillion rials ($19 billion), accounted for 53.8% of the total capital market turnover.

Mofid Securities Company topped the online trade list. The firm processed 22.39% of the online trade followed by Agah Brokerage at 11.78%, Farabi Brokerage 5.26 %,  Mobin Sarmayeh Brokerage 3.41% and Pasargad Brokerage Company 2.64%.

Financial records of the stock brokers show the brokerage industry earned 6.6 trillion rials ($54 million) in net profit in the last fiscal year that ended in March 2019.

The figure indicates 171% growth compared to a year before.  The profit was the highest in five years, according to a report by the Securities and Exchange Brokers Association (SEBA).

Over the past five years total assets of brokerage companies have grown by a massive 316%.

The report also said that the number of loss-making companies fell from 25 in fiscal 2017-18 to eight in the last fiscal year.