Marfin trades boost Investment Bank of Greece market share

…but CLR maintains lead in deals excluding arranged trades

 

Big block arranged trades booked on the shares of Marfin Popular Bank (MPB) in December amounting to EUR 800 mln helped boost the Investment Bank of Greece to take the lead in the top rankings of the CSE, with CLR Securities & Financial Services maintaining its lead excluding the arranged trades.

On total volume of EUR 1.3 bln transacted in December 2006, the Investment Bank of Greece took the number one position with total EUR 834 mln trades, of which EUR 800 mln were arranged deals on MPB shares necessary to complete the three way merger between Laiki, Marfin FG and Egnatia Bank of Greece.

CLR Securities & Financial Services was in second place during December 2006 on total volume of EUR 80.6 mln, of which EUR 62 mln were genuine volume while EUR 18.5 mln were in arranged trades booked through the Exchange.

CISCO, the investment banking arm of Bank of Cyprus Group was in third place during December 2006 with total EUR 57.9 mln volume of which only EUR 5.7 mln were in arranged deals.

Atlantic Securities scored the best performance among the local brokerages, climbing to fourth overall position on total EUR 54.1 mln deals, followed by Laiki Securities in fifth place with total volume of EUR 52 mln, while Sharelink was in sixth place on total volume of EUR 46.4 mln.

The local Egnatia Fin. Services (Cyprus) was in seventh overall place on total volume of EUR 37.9 mln of which EUR 334k were in arranged trades, followed by Hellenic Bank Investments in eight place with total volume of EUR 31 mln and Mega Equity in ninth place with EUR 26.9 mln total volume while Alpha Finance from Greece was tenth in the overall CSE rankings on total volume of EUR 18.3 mln.

A total of 11 Greek financial services firms are remote members of the CSE and during December accounted for EUR 879 mln of total volume amounting to EUR 1.3 bln, or 67% market share, leaving the rest to be shared among the 13 Cypriot firms.

In January however, the Cypriot firms are expected to gain in the overall rankings as the arranged deals on MPB will not be repeated.