Best Securities Houses Awards 2019: Singapore
DBS Vickers Securities
Singapore has one securities house that always comes out on top, whether it is ranked by brokerage, sales or research: DBS Vickers Securities. No local firm rivals it – its main competitors are foreign dealers.
While such a dominant position could lead a firm to rest on its laurels, under the leadership of Kenneth Tang, global head, institutional business, DBS Vickers has maintained a firm grasp on the Lion City’s securities market. It also has the benefit of having DBS Bank as a parent – the undoubted top local bank in the primary and secondary capital markets in Singapore, voted the world’s best bank by Asiamoney’s sister publication Euromoney.
|Kenneth Tang, DBS Vickers Securities
DBS, during our awards period, cornered 76% of the equity capital markets to secure $3.86 billion from 17 deals, topping the Dealogic league tables for volume and number of deals.
The position DBS Vickers enjoys in the local market cannot be underestimated. As a broker, it helps capture business from Singapore’s eager institutional and retail investors to whom it offers trading in stocks, preference shares, fixed income, American and Global Depositary Receipts, structured warrants, exchange-traded funds, real estate investment trusts, callable bull/bear contracts and daily leverage certificates. Quite a repertoire.
And despite its position, the firm charges the city-state’s savvy investors reasonable fees: it hasn’t gained market dominance by giving anything away for free.
The commission for trades above S$100,000 ($72,134) is 0.225% by phone and 0.18% online; for between S$50,000 and S$100,000, it is 0.3% and 0.22%; and for S$50,000 or below, 0.375% and 0.28%. The minimum commission is S$40 by phone and S$25 online.
Trading income increased in the second quarter of this year by 57% year on year to S$357 million, while gains on investment securities quadrupled from a low base to S$131 million. No other firm among this awards line-up so dominates its local market as DBS Vickers. There is a reason it won every category in Asiamoney’s 2018 brokers poll. This year it can start its can add our best securities house to its collection.