EFG-Hermes ranked UAE's top broker
Dubai, January 22, 2008
EFG-Hermes Brokerage has been ranked number one on the Dubai Financial Market (DFM) in 2007 with 14.69 per cent of daily trades.
A leading regional investment bank, EFG-Hermes, confirmed its status as broker of choice in the UAE through its domination of the DFM and ADSM rankings at the close of 2007 and by more than tripling its volume of trades on both markets since 2005, said a DFM official.
The brokerage recorded 14.69 per cent of daily trades showing an increase from 3.59 per cent from 2005 when the company launched its operations in the UAE and a ranking of 19.
The company replicated this success on the Abu Dhabi Securities Market (ADSM). Overall in 2007 it ranked second, with 13.10 per cent of daily trades – marking an increase from 4.16 per cent and a ranking of 14 in 2005.
This achievement reached its pinnacle in December 2007 when the company closed the year being ranked first, clearly ahead of all its competitors.
“Since our launch two years ago we have firmly cemented our position as the leading broker in the UAE – and with our number one ranking on the Cairo and Alexandria Exchange (CASE) we go in to 2008 firmly focused on replicating our success across the region” said Seif Fikry, head of EFG-Hermes Brokerage UAE.
“Western institutions have been instrumental in driving the markets in 2007. Foreign investor participation as well as new listings and rising earnings growth lie behind a remarkable year in 2007 for the UAE markets,” Fikry noted .
EFG-Hermes facilitates transactions and provides executions for retail, institutional and high net worth investors on all major Middle Eastern and North African markets.
The organisation has operations in Egypt, the UAE and Saudi Arabia, with dominant market share regionally across the breadth of its businesses.-TradeArabia News Service