Tuesday, September 04, 2018 09:59 AM / Research@proshareng.com
Nigerian Stock Market closed the month of August 2018 in the red zone as NSEASI Declined by -5.86% as against -3.29% loss recorded in the month of July 2018 while market YTD performance dipped further in the negative territory as it stood at -8.88% at the end of the month under review.
On market development, regulation and investors’ protection, the Securities and Exchange Commission, during the month under review, proposed a new rule on regulation of derivates trading and registration requirements for commodity brokers. The proposed changes is expected to affect derivates trading and commodity brokers registration requirements in a positive manner.
Also, the Nigerian Stock Exchange in collaboration with other Exchanges such as NASD OTC, FMDQ OTC, Nigeria Commodity Exchange and AFEX Commodities Exchange launched the Association of the Securities Exchange of Nigeria (ASEN). The ASEN launch is expected to support the advancement and the development of the Nigerian Capital Market and its members.
The FMDQ OTC markets in its August 2018 spotlight highlighted that the 26th Naira-OTC FX Futures Contract Matured and Settled on FMDQ on Wednesday, August 29, 2018. Other activities around the FMDQ OTC market are: FMDQ Welcomes British Prime Minister During Official Visit to Lagos; Corporates Continue to Seek Opportunities in the Commercial Paper Market and the admission of C & I Leasing’s PLC N7.00bn Fixed Rate Secured Bond to FMDQ’s Platform
In this edition of The Nigerian Capital Market Service Report, we continue the updates of our data section with latest figures on Economic indicators & Upcoming Events in the market and economy. This is to ensure that we deliver a comprehensive capital market service report that helps cover and track innovations, developments as well as service issues in the market effectively.
In all, the August 2018 SSS Quality Report is a snapshot and aide memoire of developments in our market - tracking milestones that the investing public should be aware of. Do feel free to share your opinions/observations and feedback with us vide firstname.lastname@example.org
For: Analyst Editorial Board
CEO, The Analyst