SICO retains top broker status on Bahrain Bourse

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

SICO, a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), announced yesterday that it had 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%, gaining an additional 15% in 2020. This amounted to 18,827 handled transactions involving 1.318 billion shares, with a total value of BD 240 million.

SICO said it remained as “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.

“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,” said Head of Brokerage Mariam Isa.

SICO said it 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.