CardinalStone Securities Limited traded N147.6billion worth of transaction in the equities market of the Nigerian Exchange Limited (NGX) to emerged second-best broker in 2021.
According to the broker performance report, released by the Exchange, the firm emerged as number one by trade volume, executing more than 15.23 billion units of shares in 2021.
A total of 10 stockbrokers on the NGX traded N1.01 trillion value and 76.3billion volume of transactions in 2021.
Cardinalstone Securities traded accounted for nine per cent of total trade volume and eight per cent of trade value in 2021, to position the firm as one of the top two stockbroking firms in Nigeria.
The company noted that the giant strides and growth achieved considering the firm finished in the top five category just over a year ago.
The Managing Director of CardinalStone Securities Limited, Elile Olutimayin, in a statement alluded to the fact that the Firm has leveraged on the synergy and relationships garnered across all of its business units and subsidiaries to drive transactions in Nigeria’s capital market, executing trade value above N140billion, this stands as its best-ever yearly performance on the NGX.
She further described some major steps taken to achieve this position “During the year, we improved the quality of service to our clients, deepened our product offerings, and made significant progress in onboarding Strategic investors, foreign fund managers, and local asset managers.
She added, “What has placed us apart from others is the unique, insightful, and innovative trade ideas, robust investment research, and solutions we consistently churn out to clients, ensuring that our customers consistently meet their investment objectives despite the tough macro environment.
Notably, we received the Businessday Banks and Other Financial Institutions Award for the category “Stockbroking Firm of the Year.”