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brokerage

Top brokerage houses

Top Brokerage Houses

ARGENTINA
Ranked by managed total transactions

                                     MARKET SHARE

   COMPANY                          2004      2003

 1 Santander                        11.0      11.0
 2 Raymond James Argentina           5.8      10.6
 3 Allaria Ledesma y Cia.            6.1       5.6
 4 Carlos Marina                     2.3       1.6
 5 Bull Market Brokers               3.4       0.9
 6 Stratford Book Services           3.5       2.8
 7 Debursa                           2.2       1.3
 8 Rosario Valores                   2.8       2.1
 9 Deutsche Securities               2.2        --
10 Falabella y Corsi
     Inversora                       2.1       2.4
11 Provincia Bursatil                1.8       1.5
12 Dionisio Martin Jose
     Bourie Corneille                1.7       1.3

BRAZIL
Ranked by assets as of December 31, 2004

                                       ASSETS             NET INCOME

                                  US$         %        US$        %
                                millions   change    millions   change
   COMPANY                        2004     '04/'03     2004     '04/'03

 1 Votorantim                     382.0        0.4     16.6      -17.0
 2 Itau                           195.9       62.9     19.1      225.7
 3 ING                            147.9    1,095.8     -2.7        3.8
 4 PEBB                           131.1      -57.1     13.3      -28.9
 5 Banespa                        100.1       34.2     45.9       85.8
 6 Safra                           90.5      227.2      4.2       43.5
 7 Credit Suisse                   85.3       38.3      9.7       68.7
 8 HSBC                            84.6       50.5      2.6       13.2
 9 Agora Senior                    77.3       -6.0      0.7      -67.3
10 Hedging-Griffo                  67.7       16.9      8.3       50.3
11 J.P. Morgan                     62.6       22.0      5.2      -11.9
12 Santander Brasil                60.1       44.7      5.0      156.7

CHILE
Ranked by assets as of December 31, 2004

                                       ASSETS             NET INCOME

                                  US$         %        US$         %
                                millions   change    millions   change
   COMPANY                        2004     '04/'03     2004     '04/'03

 1 Banchile                      985.9      -26.4      17.5       13.7
 2 Valores Security              634.1      135.8       8.0       95.8
 3 BCI                           617.4       99.2       8.1       50.6
 4 BBVA                          369.5       83.1       3.1       21.6
 5 Santander Investment          309.4        6.5       4.2       10.7
 6 CORP                          300.7      146.9       5.0       81.0
 7 BancoEstado                   267.6       91.5       3.5       16.3
 8 Bice                          264.1       16.5       5.9      -37.1
 9 Citigroup                     245.5       69.8       2.5      -20.1
10 Consorcio                     188.5        0.1       7.7       22.8
11 Larrain Vial                  184.1      119.7      10.9       89.8
12 Alfa                           85.2        6.4       1.2      -33.0

COLOMBIA
Ranked by assets as of December 31, 2004

                                       ASSETS             NET INCOME

                                  US$         %        US$         %
                                millions   change    millions   change
   COMPANY                        2004     '04/'03     2004     '04/'03

 1 Interbolsa                    378.6       198.2      6.6        71.6
 2 Inversionistas de Colombia    260.9        88.6      6.4       133.0
 3 Cia. Suramericana de
     Valores                     205.4        90.7      4.7        22.9
 4 Bolsa y Banca                  60.4        97.3      1.2       246.7
 5 Asesores en Valores            40.4        93.1      1.7       115.6
 6 Serfinco                       36.9        20.1      0.8        -4.7
 7 Ultrabursatiles                31.1       119.4      0.9       -19.1
 8 Acciones y Valores             27.6       -20.7      1.2        85.3
 9 Promotora Bursatil de
     Colombia                     25.9       222.5      0.2       219.4
10 Alianza Valores                23.1       -19.1      1.9       100.3
11 Cia. de Profesionales
     de Bolsa                     23.0       -24.9      1.1        97.2
12 Corredores Asociados           22.8        47.9      0.3       274.8

ECUADOR
Ranked by total transactions as of December 31, 2004

                                    US$         %
                                  millions   change
   COMPANY                          2004     '04/'03

 1 Picaval Pichincha                55.0       17.9
 2 Multivalores B.G.                34.1       53.7
 3 Produvalores                     25.2      -10.1
 4 Valpacifico                      24.5      343.5
 5 Banrio                           23.9      116.7
 6 Advfin                           21.6      519.2
 7 Valores Bolivariano              11.5       18.1
 8 R&H Asociados                    10.6      446.7
 9 Fiduvalor                        10.4        --
10 Stanford Group                    8.6      -67.9
11 Stratega                          6.7       50.4
12 Ecofsa                            6.2       14.0

MEXICO
Ranked by assets as of December 31, 2004

                                       ASSETS             NET INCOME

                                  US$         %        US$         %
                                millions   change    millions   change
   COMPANY                        2004     '04/'03     2004     '04/'03

 1 Acciones y Valores de
     Mexico                      312.1       50.8      50.4       20.7
 2 Monex                         192.4       55.3      20.0       -5.0
 3 GBM Grupo Bursatil
     Mexicano                    125.8       42.2      26.0      119.4
 4 Scotia Inverlat               122.6       10.7      12.6       92.7
 5 Inversora Bursatil            115.3       21.6      31.2      116.3
 6 Invex                          96.5       27.3      14.3       18.9
 7 Santander Serfin               88.4      -14.7      11.7       63.6
 8 BBVA Bancomer                  84.9      -14.1      11.2       25.8
 9 Vector                         64.4       13.7       2.3      -62.3
10 Valores Mexicanos              59.5       -6.2       4.6      -36.8
11 Banorte                        53.9       24.8       6.9      -24.2
12 Ixe                            53.3       24.4       6.0      -10.6

PERU
Ranked by assets as of December 31, 2004

                                       ASSETS             NET INCOME

                                  US$         %        US$         %
                                millions   change    millions   change
   COMPANY                        2004     '04/'03     2004     '04/'03

 1 Citicorp Peru                  12.9      218.9     -0.03      -103.7
 2 BWS                             9.1        2.5      -0.4      -689.9
 3 Credibolsa                      5.9       -8.2       1.7        -6.5
 4 Seminario y Cia.                5.2       51.2       0.4       749.6
 5 Centura                         3.8      128.5      0.04       -81.7
 6 Grupo Coril                     3.7       45.3      0.01        77.8
 7 Inversion y Desarrollo          3.3       11.2       0.2       216.1
 8 Provalor                        3.2       17.5       0.1       -38.8
 9 Continental Bolsa               3.2      -46.4       0.6       574.0
10 Sudamericano Bolsa              2.8      -19.6     0.001       -85.2
11 Promotores e Inversiones
     Investa                       2.6       69.0       0.5       385.0
12 Santander Investment            2.0        6.5      -1.4      -293.4

VENEZUELA
Ranked by assets as of December 31, 2004

                                       ASSETS             NET INCOME

                                  US$         %        US$         %
                                millions   change    millions   change
   COMPANY                        2004     '04/'03     2004     '04/'03

 1 Econoinvest                   215.1        10.6      3.8       -33.3
 2 Interacciones                  91.7       128.0      0.6         7.0
 3 Universitas                    51.6       120.2      3.7       -13.2
 4 Activalores                    48.8        62.3      0.3      -450.9
 5 ABN Amro                       31.3       203.9     -0.1      -180.2
 6 Caribe                         24.5         6.0      0.9        28.3
 7 InverUnion                     19.1        74.9      0.1       -87.6
 8 Merinvest                      18.6        13.0      0.0      -100.4
 9 Multiplicas                    17.5       -42.8      0.6       -52.9
10 Santander                      10.0        41.6      2.1        11.9
11 Bencorp                         9.6        -9.4     -0.3      -109.3
12 Financorp                       9.5        38.1      0.5       -33.5

SOURCE: Austin Asis, individual domestic securities commissions

COPYRIGHT 2005 Freedom Magazines, Inc.
COPYRIGHT 2005 Gale Group



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