Hermes sisters lead EGX trading in 2023

Hermes sisters lead EGX trading in 2023

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