Auerbach Grayson & Company Inc., a leading agency brokerage specializing in international securities trading for U.S. institutional investors, announced that it has added long-established CSL Stockbrokers Ltd. of Nigeria to the Auerbach Grayson Global Broker Network.
A member of the Nigerian Stock Exchange since 1977 and one of the largest brokers in the country in terms of trading volume and size of trades, CSL Stockbrokers has more than 20,000 retail, government and corporate clients. Over the last three years, CSL Stockbrokers has been one of the largest facilitators of offshore trades on the Nigerian Stock Exchange.
In 2006, CSL Stockbrokers independently executed almost US$50 million in trades for offshore clients. CSL Stockbrokers clients can visit any of the firm’s 100 branches located in major cities across Nigeria, as well as execute their trades online. CSL Stockbrokers and its flagship company, FCMB Plc., are members of Nigeria’s pioneering financial services group, First City Group.
“We believe our union with Auerbach Grayson will further enhance our already dominant position in the offshore market,” said Gboyega O. Balogun, Executive Director, CSL Stockbrokers and Divisional Head of Investment Services of FCMB Capital Markets Subgroup.
Jonathan L. Auerbach, Managing Director and co-founder of Auerbach Grayson said, “CSL Stockbrokers has an outstanding reputation and is a prime example of the well-established local brokers on our network who are in the best position to provide in-depth research and analysis of local markets and individual companies to our institutional clients.”
Auerbach Grayson (www.agco.com) offers a full range of in-depth research, trade execution and settlement services in equities, derivatives and fixed-income instruments to U.S. institutional clients through its global network of local partners that now extends to 100 countries. Each broker partner provides exclusive local color and research, distributed to Auerbach Grayson’s institutional clients, as well as handles all details of trading and settlement.
Auerbach Grayson’s reach spans North America to South America, Western and Eastern Europe, the Middle East, Asia, the Pacific Rim, and Africa, where its local broker partners are based in Egypt, Morocco, Tunisia and 21 Sub-Sahara countries, including Botswana, Kenya, Mozambique, Namibia, South Africa and Zimbabwe.
Auerbach Grayson Company Inc., founded in 1993 in New York City by Managing Directors Jonathan L. Auerbach and David S. Grayson, is dedicated to making global investing more efficient and effective for U.S institutional investors by partnering with more than 100 brokers and banks in 101 local markets worldwide. The firm also provides and implements hedging and arbitrage strategies. Auerbach Grayson is a member of the National Association of Securities Dealers (NASD) and the Securities investor Protection Corporation (SIPC).