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

Al Rajhi Capital has maintained the lead as the top brokerage firm operating in Saudi Arabia in September for the 22nd straight month, data compiled by Argaam showed.

The brokerage accounted for 18.70 percent (SAR 18.61 billion) of total market transactions on the Saudi Stock Exchange (Tadawul) last month.

Aljazira Capital moved up to the second place, accounting for 11.88 percent (SAR 11.83 billion) of total trading last month. Alistithmar Capital moved down to the fourth position with 8.87 percent (SAR 8.83 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 fell by around SAR 9 billion month-on-month to SAR 99.52 billion in September.

Al Rajhi Capital topped the list of brokerages operating on the Nomu Parallel Market in September, brokering up to SAR 9.72 million of total transactions on the parallel market.

Meanwhile, the number of brokerages working on exchange-traded funds (ETFs) in September rose to 12 firms instead of 11 in the previous month.

Falcom Financial Services was the leading firm for the month, accounting for 99.52 percent (SAR 149.1 million) of total trading.

Five firms traded on sukuk and bonds with around SAR 39.88 million.