Top brokerages after five months

Independent brokerages on the market, mainly working with domestic investors, boasted stronger growth than brokerages part of banking groups, which rely more on foreign clients, point out statistical data after the first five months of the year. The value of stock transactions handled by brokers on the domestic market rose by over 80% in the first five months of the year, amid a stock price rally compared with the similar period of 2009, but also amid rising activity of Romanian investors. In the first five months, brokerages generated over 7.2bn RON (1.76bn euros), from just 4bn RON (940m euros) a year ago. However, the turnover rebound also brought changes in brokers' ranking, with independent firms, targeting the retail sector more, managing to boost their activity more and overrun the large banking brokerages, whose business largely relies on working with foreign investment funds. IFB Finwest of Arad, Broker Cluj and Intercapital Invest, the strongest independent brokerages, posted turnover increases of between 110% and 180%, while major banking brokerages, such as ING Bank, EFG Eurobank Securities and UniCredit CA IB Securities, added between 10% and 51% to deal value.