EFG-Hermes is top broker on the UAE markets in 2008

The region's leading investment bank held the number one position in terms of value traded on both exchanges.

"We are pleased that EFG-Hermes has once again emerged as the leading broker of choice in the UAE. Innovative research products, expert execution capabilities, superior client service and back end operations, have collectively led EFG-Hermes to this position."

said Seif Fikry, Head of EFG-Hermes Brokerage UAE.

EFG-Hermes has also shown consistent growth in daily percentage of trades across the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX), more than tripling its volumes of trade on both markets since the company's UAE launch in 2005.

EFG-Hermes' market share on the DFM for 2008 is now 19% compared to 3.59% when the brokerage division launched three years ago with a ranking of 19. The investment bank also performed exceptionally well on the ADX for 2008, rising up the ranks to the leading position accounting for 17.5% of market share from 14th position in 2005 with a mere 4.16% market share.

In addition to this accolade, EFG-Hermes is the first broker to consistently hold the number 1 ranking for all 12 months throughout 2008 on the DFM.

"In addition to this success, our recent acquisitions of Gulf Financial Brokerage in Kuwait and of Vision Securities in Oman have lead EFG-Hermes to the number three position on both exchanges. We also continue to maintain our number one ranking on the Egyptian Exchange (EGX) which we are proud to have held for more than ten years" said Sherif Cararah, Head of EFG-Hermes Brokerage.

EFG-Hermes Brokerage has recently been granted permission to provide non-resident foreign investors with the ability to purchase Saudi Arabian equities through trade swap arrangements, in compliance with the Capital Market Authority's new regulation. It launched its new Abwab product in September of this year, providing foreign institutional investors with access to the Saudi Arabian market.

EFG-Hermes facilitates transactions and provides executions for retail, institutional and High Net Worth investors on all major Middle Eastern and North African markets. The organization has operations in Egypt, the UAE , Saudi Arabia, Oman, and Kuwait with dominant market share regionally across the breadth of its businesses.