Thang Long Securities Company continues to hold the largest share of the brokerage market on the Ha Noi Stock Exchange.
A second-quarter report of the 10 leading brokerages by market share, issued by the Ha Noi Stock Exchange this week, showed that Thang Long Securities accounted for nearly 13.1 per cent of the market, up from over 11.9 per cent in the first quarter.
In second place was VNDirect Securities, with 5.65 per cent – an increase of 1.1 per cent over the first quarter – followed by FPT Securities with a 4.5-per-cent market share.
A relative newcomer, Hoa Binh Securities Company, which has only been a member of the stock exchange for two years, was also in the top ten, with a market share of nearly 2.3 per cent.
"The positions of securities companies haven't changed much in this rating, which means medium-sized brokerages are tying harder than large ones to lure clients in the context of market gloom," said Nguyen Thanh Phong, a senior official with a HCM City-based financial consultancy company.
However, a high brokerage market share didn't mean high profits, Phong said, noting that most profits earned by securities companies came from institutional trading.
"Still, being recognised for having a significant brokerage market share could help securities companies market themselves, especially the young ones," he said.
A high brokerage market share may not help much when markets remain uncertain as present, said the head of brokerage for a Ha Noi-based securities company who asked to remain anonymous. "The maintainance of a traditional client base may be more effective than expansion".