Nigerian Online Trading Portals Ranking Report 2018

Proshare

Thursday, August 30, 2018 / 03:32 PM / Proshare Research                                

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Executive Summary

Sequel to the advent of online trading system and the official launch of the first online trading portal in the Nigerian Capital Market, more operators continue to embrace the innovation even though there is still room for improvement considering the fact that the ratio of firms with online portals to active operators remain at a very low rate.

The gradual and continuous adoption of online trading as a global best practice is a new normal that reflects the adoption of financial technology in finance by financial services providers and operators. This is a welcome development and has continued to aid the financial inclusion campaign, as it further reflects in the gradual drop in minimum accounting opening balance/amount and commission/fee charged by some of these operators.

Our maiden report in H1 2016 and the H2 2016 online trading ranking reports focused on Capital Market Operators (CMOs) which have their portals linked to the X-Gen - the Nigerian Stock Exchange (NSE) Trading engine for real time executions, while the 2017 edition went a step further as it focused on all CMOs as well as firms with FX Trading platforms.

The current edition (2018) is an improvement over the 2017 ranking report, as it focused and covered all the five (5) major market segments of Proshare MARKETS which are basically (1) Equities – Listed and Unlisted (2) Fixed Income (3) Forex (4) Commodities and (5) Mutual Funds.

These five segments identified above cut across the Exchanges’ identified in the Regulatory Technology section of this report and as well apt enough to capture their various products and traded securities within the Nigerian financial market which is the focus of this year’s survey and Proshare MARKETS in particular.

Going forward, we expect more CMOs, commodities traders, and FX trading platforms to embrace an online trading system to deepen fintech and financial inclusion. This is the future as it is expected to bring about efficiency and present better and customer targeted products and services.

 

Do feel free to share your opinions/observations and feedbacks with us vide research@proshareng.com. Thank you.

 

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  Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

 

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Proshare Nigeria Pvt. Ltd.


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