About the company:
Francis Drummond and Company Limited was established in 1949 by a Nairobi-based real estate agent and is named after him. Previous stock trading in the region had been done by chance among affluent, well-connected business people, and the company was the first professional stock brokerage firm in Kenya.
The financial organization has been integrally involved in the establishment and growth of its local stock exchange, the Nairobi Stock Exchange, since its inception. The Capital Markets Authority has approved the brokerage, which is based in Nairobi, Kenya.
It’s hardly unexpected that the company is still trading stocks and stocks, given that it was built on the services of a stockbroker. In addition to giving access to shares on its home market, the NSE, the broker supports investments in key foreign markets in Africa and throughout the world. Due to the firm’s key position in Kenya’s economic markets, fixed income products such as bonds and government securities are also offered.
Francis Drummond Asset Management provides services to both organizations and individuals that want to invest or manage large sums of money. Through market investment and asset management, the business specializes in managing risk and return.
Research and analysis
In addition to broad market analysis, the firm undertakes in-depth research on the health and long-term prospects of the economy, the fundamental principles of publicly traded companies, and bank interest rates. On its website, it publishes daily market analysis for free, and more extensive research for serious investors is available upon request.
Advisory Services for Corporations
The company can also assist businesses in coping with the terrible economic circumstances in Kenya. Advice and support are provided for company needs such as IPOs, private equity raising, M&A, and fair valuations.
Markets and assets
The financial services company provides shares from the NSE as well as numerous African and international offshore marketplaces. Government and business bonds, as well as short-term Treasury bills, are also available.
Margin and Leverage
The leverage, or margin, provided to clients is not advertised by the company. Traders and enterprises must instead contact the firm on an individual basis to receive prices. Corporate investors, on the other hand, are likely to have a considerable amount of margin available.
Commissions and Fees
The corporation does not disclose any costs or commissions for its stock and bond trading services, as it does with leverage. Minimum account balances, inactivity penalties, and deposit and withdrawal fees are also unknown to traders. The firm’s bid price policy makes it probable that the fees for wealth management services given by a broker will be based on the size of the investment; this is standard industry practice. The cost of research and consulting services varies based on the scope and complexity of the needs.
The firm, like many other stock trading platforms, has its own platform. Drummond eTrade is the name of the software program, and it can be reached by clicking on the link at the top of the broker’s main page. Separate areas of the broker’s trading platform are dedicated to trading firms and monitoring market data and statistics, although all traders have access to restricted research. The site also displays account statements and transactions. Trading is not permitted outside of business hours.
Individual and corporate trading accounts are maintained by the firm. Both demand personal information and identification verification from all workers throughout the registration process. Both the corporate and personal accounts have access to Francis Drummond’s advisory services, as well as asset management, era, and research services.
Regulation and safety
The characteristic of a professional and dependable brokerage business is firm regulation. The company is a member of the Kenya Association of Stock Brokers and Investment Banks (KASIB), as well as a registered trader on the Nairobi Stock Exchange (NSE) and a Central Depository and Settlement Corporation (CDSC) recognized firm (CDSC). This is in addition to the Kenya Capital Markets Authority’s decision (CMA). Drummond eTrade’s secure portal is password-protected, and customer data is securely encrypted to reduce the danger of data loss.
Many brokerages have extended trading hours or even offer trading after business hours in order to take advantage of trading opportunities in various worldwide marketplaces. On weekdays, Francis Drummond only allows trading from 10:30 a.m. to 2:30 p.m. EST. This may not be a concern for long-term investors, but it may limit day trading in many big markets.