HANOI: Following two consecutive quarters of recovery, securities brokerage operations unexpectedly experienced a notable decline in the fourth quarter of 2023.

       During the period, the total brokerage revenue of securities companies is estimated to reach 3.3 trillion dong, a decrease of about 900 billion dong, or over 21%, from the third quarter.

       However, this figure remains slightly higher than the same period in 2022.

       Most securities companies have recorded a significant decline in brokerage revenue compared to the previous quarter, despite many pillars such as VPS Securities JSC (VPS), SSI Securities Corp (SSI), VNDirect Securities Corp, MB Securities JSC (MBS), KIS Vietnam Securities Corp (KIS), and Baoviet Securities Company showing high growth from the same period last year.

       Some others even witnessed a decrease in brokerage revenue compared to last year, such as Ho Chí Minh Securities Corp, Vietcap Securities JSC, and Techcom Securities JSC (TCBS).

       In the fourth quarter, VPS continued to be a leader in brokerage revenue with 808 billion dong, accounting for a quarter of the entire market.

       The amount soared 47% from the same period last year but was still 15% lower than the previous quarter.

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       VPS is the leading securities firm in market share for brokerages across all three exchanges. It is also a winner in the derivatives market in the fourth quarter and throughout 2023.

       The sluggish trading market in the final quarter of 2023 is one of the factors contributing to the decline in total brokerage revenue for securities companies. — Viet Nam News/ANN