The Egyptian Exchange (EGX) had a record-breaking year in trading volumes, pushing the index to reach historical levels and sparking competition among brokerage firms for large market shares in the financial market. The two sisters, Hermes, grabbed market shares close to a quarter of the market size.

Hermes Brokerage ranked first among stock exchange brokers at the end of 2023, rising three positions during the year, with 10.9% of transactions and a trading value of EGP 160.6bn. This involved trading 33.1 billion financial instruments through 2.5 million transactions.

International brokerage firm EFG Hermes fell one position at the end of the year to come in second with a trading value of EGP 151.4bn and a trading volume of 6.7 billion financial instruments through 708.3 thousand transactions, getting a market share of about 10.3%.

CI Capital and Al Ahly Pharos for Securities Brokerage each lost one position to come in third and fourth during the year, with trading volumes of EGP 95bn and EGP 73.1bn respectively, and market shares of 6.5% and 5% respectively.

Mubasher, specializing in trading securities and bonds, moved up two positions to take the fifth position with a market share of 4.4%, trading about EGP 64.4bn and executing transactions for nearly 25 billion financial instruments.

Arabeya Online climbed four positions in the past year, taking the sixth position with trading values over EGP 65.5bn and a market share of around 3.8%.

Thndr soared 23 positions to land in the seventh position at the end of the year, with trades totalling EGP 54.6bn and a market share of 3.7%, executing transactions for about 23.5 billion shares.

Ahmed Hamouda, Co-founder and CEO of Thndr, said that the company plans to enter institutional transactions in the new year after gaining a large share of individual transactions since its start. This growth, along with the expansion plan in individual transactions, made the company join the top 10 brokers on the Egyptian Exchange.

Hamouda explained that the company aims to increase the number of individual clients investing in the Egyptian Stock Exchange, especially with individuals turning to the stock market to protect the value of their savings amid rising inflation rates. Individuals are looking for different investment options, and Thndr aims to offer them by adding new investment services on the Thndr platform.

He added that the company seeks to match the companies operating in global stock exchanges in terms of revenues from individuals, which make up a small percentage in Egypt compared to the U.S. stock exchange.

Meanwhile, Pioneer Securities Trading stayed in the eighth position, with trading values of EGP 53.3bn and a trading volume of 21.3 billion financial instruments, getting 3.6% of the market share.

Ostoul Securities Brokerage moved to the ninth position with a market share of 3.3% and trading volumes of 20 billion shares worth EGP 48bn at the end of the year.

Arab African International Securities jumped seven positions to land in the tenth position, getting 3.3% of the market share with trading volumes of 8.8 billion financial instruments worth EGP 47.8bn.

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