NSE inducts dealing clerks in trading systems across Nigeria
The Nigerian Stock Exchange (NSE) has inducted 27 clerks in Automated Trading Systems (ATS).
In his opening remarks at the induction ceremony for the newly qualified dealing clerks in Lagos,Chief Executive Officer, NSE, Mr Oscar N. Onyema, said the event was in continuation of its effort in ensuring professional standards.
According to him, “Today successful Dealing Clerks who have passed through The Exchange’s Automated Trading System (ATS) training faculty, made up of seasoned capital market regulators and operators (SEC, NSE, CSCS, Registrars, ASHON and CIS).
“The ATS training is a pre-requisite for participating in an oral examination, a rigorous exercise to ensure only suitable candidates secure the required regulatory approval to practice as Authorized Dealing Clerks of the Nigerian Stock Exchange.”
He explained that out of 47 candidates who wrote the Chartered Institute of Stockbrokers (CIS) examination and went through the mandatory practical Automated Trading System (ATS) training at the Exchange, 27 candidates passed the oral examination.
Onyema added that NSE still maintains clear and enforceable rules, with a zero-tolerance policy on all infractions.”To accentuate this, we signed an MOU with the Economic and Financial Crimes Commission EFCC) a couple years ago to increase cooperation and communication in the fight against financial crimes in the capital market.
“We will support you in developing your capacity and businesses. However, NSE will not hesitate to wield the big stick on any erring member that fallsshort of it’s rules.
“The fourth industrial revolution is here and NSE is well equipped to be the exchange of the future.
Our trading system, X-Gen, has remained a game changer in the capital market.
“Through it, we have improved market order flow, sustained increase in the number of trades, provided high availability, and enabled direct market access and remote trading.
“More importantly, X-Gen also brought about the advent of mobile trading technologies to the retail and institutional segments of the Nigerian capital market.”
The statement added that launch of our X-bot, an artificial intelligence (AI)-powered Chatbot that responds directly and automatically to enquiries has positively impacted customer experience and engagement with the NSE.
Also, the launch of X-Mobile application, X-Kathon and the Federal Government Savings bond, are pivotal to efforts to deepen retail participation in the market.
Similarly, they established X-Academy, the NSE knowledge-platform designed to provide education services to individuals for better understanding of various aspects of the capital market as well as new development has been yielding positive results, the NSE added.
