A man looks at stock indices on a computer screen (Photo: VNA) Statistics from HoSE showed that 10 securities companies with the largestbrokerage value on HoSE in the fourth quarter of 2022 include VPS SecuritiesJSC (VPS), SSI Securities Inc (SSI), VNDirect Securities Co (VNDirect), MiraeAsset Securities (MAS), Ho Chi Minh City Securities Corporation (HSC),Vietcombank Securities Co (VCSC), MB Securities Co (MBS), TechcombankSecurities Co (TCBS), KIS Vietnam Securities Corporation (KIS), and Viet DragonSecurities Co (VDSC).
VPS Securities JSC (VPS) continued to maintain the No 1 position in terms ofstock brokerage market share with 14.81% in the last quarter of 2022. That wasthe 8th consecutive quarter VPS reached the No 1 market share position on theHCM Stock Exchange (HoSE), although this figure was nearly 4 percentage pointslower than 18.71% in the third quarter of 2022.
On the Hanoi Stock Exchange (HNX), VPS securities also hold the leadingposition in 2022 with a market share of more than 21%.
While other companies listed in the top 10 stockbrokers on the HNX improvedtheir market share insignificantly, or even witnessed a shrinking market share,VPS's market share increased by nearly 5 percentage points from 16.34% in 2021.
Securities companies such as SSI Securities Inc (SSI) and VNDirect SecuritiesCo (VND) also improved their market share on the HNX in 2021, increasing by0.14 and 0.12 percentage points, respectively.
Missing out of the Top 10 on HNX were 2 companies HCM City SecuritiesCorporation (HSC) and Saigon-Hanoi Securities Co (SHS), replaced by 2 companiesKB Securities Vietnam JSC (KBS) and Vietcombank Securities Co (VCSC) withmarket shares of 3.12% and 2.76%, respectively.
Brokerage revenue fell at most securities companies amid the general marketcontraction. For example, VPS became the No 1 securities company in terms ofmarket share on HoSE, but its market share in the fourth quarter of 2022decreased sharply. In the whole of 2022, VPS Securities Joint Stock Company -the leading company in terms of stock brokerage market share - only collected 550billion VND in revenue from brokerage activities, equal to half of the sameperiod of 2021.
For the whole of 2022, brokerage revenue of the 10 leading securities companieson HoSE in terms of trading market share decreased by nearly 19.4% compared tothe previous year. VPS's brokerage gross profit margin decreased from 22% inthe fourth quarter of 2021 to 12% in the fourth quarter of 2022.
Keeping market share when the total trading size of the whole market shrinks,many securities companies trade off efficiency. The ratio of gross profit torevenue of the brokerage segment has decreased significantly.
In the top 10 enterprises leading the market share, brokerage revenue decreasedby less than 20%, but gross profit of this segment decreased by 28.2%./.
VNA
