NSE CEO's Opening Remarks At The Induction Ceremony For Newly Qualified Dealing Clerks

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Wednesday, December 11, 2019 / 03:48 PM / By NSE / Header Image Credit: @nsenigeria

 

Good afternoon distinguished Ladies and Gentlemen. On behalf of the National Council and Management of The Nigerian Stock Exchange, it gives me great pleasure to welcome you to this induction ceremony for newly qualified Dealing Clerks of the Exchange. This ceremony is very important to us as an organization, as it is the official welcome ceremony for the future participants and leaders of the Nigerian capital market.

 

We have here today successful Dealing Clerks who have passed through The Exchange's Automated Trading System (ATS) training faculty, made up of seasoned capital market aregulators 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.

 

Your induction today is a testament to your years of dedication and hard work. It also marks the beginning of your journey as Authorized Dealing Clerks of The Nigerian Stock Exchange. With the extremely thorough and strict process leading to your qualification, I make bold to say that you are worthy to be practicing stockbrokers qualified to trade on any floor of The Nigerian Stock Exchange in Nigeria.

 

Allow me to congratulate those of you here today for your induction into the Dealing Clerkship of the Exchange. 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. I believe they deserve a resounding round of applause.

 

Please note that we have clear and enforceable rules, with a zero tolerance policy on all infractions. To accentuate this, we signed an MOU with 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 falls short on any of its 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

 

Today, we are one of the few securities exchange that have leveraged Artificial Intelligence to scale up access and proactively prevent market abuse. The 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.

 

Furthermore, our launch of X-Mobile application, X-Kathon and the Federal Government Savings bond, are pivotal to efforts to deepen retail participation in the market.


In order to stay relevant in today's dynamic environment, continuous training is a tool that should not be underestimated. For this reason, we 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. I urge you to take advantage of X-Academy, especially its recently launched e-learning platform, to stay up to date of market developments.

 

I am very confident that your formal entry into our market will bring both you and us many more successes.

 

Once again I congratulate you on achieving this great milestone in your career and wish you a successful future in the Nigerian capital market.


Proshare Nigeria Pvt. Ltd.

 

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