Taiwan's best securities house 2019
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Taiwan's best securities house 2019

Yuanta Securities

Bobby Hwang, CEO, Yuanta Securities.jpg
Bobby Hwang, Yuanta Securities

This year, Yuanta Securities quite simply crushed its competition. It consistently led equities trading, while beating domestic and foreign firms at the top of the primary market league tables.

The firm’s share of the equities trading market is not huge, but is leading in its consistency: in Asiamoney’s awards period it was between 11% and 12% almost every month, dropping to between 10% and 11% just twice, according to data from the Taiwan Stock Exchange.

From January through to the end of May, Yuanta brokered NT$1.03 trillion ($32.8 billion) in trades, or 11.17% of the market. Its closest competitors are KGI Securities and Fubon Securities. The pair managed 8.32% and 5.16% of the market during the same period, respectively.

All things considered, the data shows Taiwan’s secondary trading market is the definition of stable. KGI’s and Fubon’s share of the business has hovered around 8% and 5% every month for the last year. But that doesn’t mean the picture can’t change. It takes a strong sales team and loyal customer network to maintain a position the way Yuanta has done. Alongside its equities business, the firm offers credit trading services including securities financing, securities lending and brokerage for futures trading.

Overall, brokerage generated NT$12.6 billion, or 62% of its total annual revenue in 2018, up from 60% the year before.

Under the leadership of chief executive Bobby Hwang, Yuanta Securities has also topped Dealogic’s global coordinator and bookrunner league tables, getting onto a series of transactions each worth several hundred million dollars.

Most sizeable deals over the last year were follow-ons and block trades handled by a syndicate of multiple domestic firms. But in February, Yuanta got a chance to show its expertise beyond straight share sales as sole bookrunner on a $195 million convertible bond for Ennoconn Corp.

Yuanta raised a total of $1.7 billion from 24 deals in the primary capital markets during our awards period, for a 32% market share. Asiamoney polled readers in 2018 for their opinions on the best brokers in Taiwan. Yuanta won in brokerage, research and sales. It is the top firm in equities trading and in the primary markets.

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