SICO, a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), has retained its status as the leading broker on the Bahrain Bourse (BHB) for the 22nd consecutive year.
SICO’s market share in terms of traded value on the BHB for the year was 56 per cent, gaining an additional 15 per cent in 2020. This amounted to 18,827 handled transactions involving 1.318 billion shares, with a total value of BD240 million ($632.8 million). SICO remained the broker of choice for large trades and executed the majority of major deals on the BHB during the year owing to its focus on serving active investors with large trading books.
“We are delighted to have maintained our leading position on the BHB, successfully delivering strong results and increasing our market share, in spite of a challenging external environment,” said Chief Capital Markets Officer Fadhel Makhlooq. “SICO’s skilled team with their expert industry knowledge and experience in some of the region’s largest trades leaves them well-equipped to advise clients and navigate challenging market conditions in order to offer them access to investment opportunities across the GCC region complemented by world-class research products produced by our award-winning in-house team. The research team continue to expand its coverage of listed companies to cover all sectors of the GCC markets. We take this opportunity to express our appreciation to the Central Bank of Bahrain and the Bahrain Bourse for their progressive approach to the development and supervision of the market.”
SICO’s Brokerage division provides clients with a comprehensive product offering out of Bahrain, Abu Dhabi and soon Saudi that includes direct securities including equities, bonds, and sukuks across the GCC and wider MENA region; margin trading facilities for equities; and repurchase agreements (repos) for fixed income. SICO’s Fixed Income Trading Desk, has also established itself as a market leader in the industry with a diversified service offering that goes beyond regional markets backed by a superior credit research team.
“Our brokerage business demonstrated outstanding resilience during the year, posting positive results and contributing to SICO’s bottom line. The division increased its client base and continued to offer value-added advisory services to its clients, including broad and customized research products. These achievements were made possible due to the efforts of the division’s team,” commented Head of Brokerage Mariam Isa.
SICO also offers online trading through its platform SICO LIVE, which offers clients seamless multi-market access across key stock markets in the GCC and select MENA markets from a single account, granting them the ability to trade in real time and access SICO’s research products. In 2020, SICO witnessed an increase in value of client trades of more than 600 per cent. The year also saw SICO launch its international trading platform, SICO LIVE GLOBAL, which allows clients to trade and invest in a diverse array of asset classes across international markets.
During the year, SICO’s brokerage division also received a number of accolades including:
• Best Securities Brokerage in Bahrain by Global Banking and Finance Awards 2020
• Best Broker in Bahrain by EMEA Finance 2020 - TradeArabia News Service