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

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

The brokerage accounted for 19.52 percent (SAR 18.13 billion) of total market transactions on the Saudi Stock Exchange (Tadawul) last month.

Aljazira Capital maintained the second place for the third straight month, accounting for 12.59 percent (SAR 11.69 billion) of total trading last month, followed by NCB Capital with SAR 9.14 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 75 billion month-on-month to SAR 92.9 billion in June.

On the Nomu Parallel Market, the number of brokerage firms stood at 21 in June.

Aljazira Capital topped the list of brokerages operating on Nomu in June, brokering up to SAR 18.8 million of total transactions on the parallel market.

Aloula Geojit Capital moved down to the 16th rank in June, brokering up to 0.43 percent (SAR 236,400) of total transactions on the parallel market.

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

Falcom Financial Services was the leading firm for the month, accounting for 98.58 percent (SAR 83.92 million) of total trading.