Monday, May 09, 2016, 09.52AM / email@example.com
Nigerian Stock Market retracts in the month of May 2016 to close in the red zone. The NSEASI records a marginal loss of -0.96% as against +2.99% gains recorded in the previous month of April 2016 while market ytd performance stands at -12.50%.
The Nigerian Stock Exchange (NSE) and the African Securities Exchanges Association (ASEA) in a capacity building seminar held recently in Lagos shared thoughts from top industry executives extensively on how to build liquidity in African Financial Markets and also braces up towards the regional West Africa Capital Markets Integration Council (WACMIC) Initiatives.
The seminar is meant to promote growth within African financial markets and also enhance the capacity of African exchanges to compete effectively on the global stage as they are seen as instrumental to the reposition of African economies following the significant impact of global headwinds that have challenged the growth prospects of the continent.
As part of the innovations that will help drive market growth and improvements, Stanbic IBTC Stockbrokers Ltd, a leading brokerage firm, launched its online trading platform called Stanbic IBTC e-Trade. The platform is expected to help the market recapture investors’ confidence in the marketplace by availing them of insight and market related information required to act prudently on new investment opportunities.
Furthermore, FMDQ OTC market in the course of the month announced its partnership with Pencom through the co-signing of a Regulatory Supervision Collaboration Agreement. The partnership is expected to change the face of the Nigerian financial markets from the buy-side perspective towards investor protection, integrity of service, fair return on investments and ultimately the development of the nation’s economy.
The OTC market also holds its 4th AGM in the month. Other activities carried out include the hosting of the Dealing members (Specialists) CEOs and the release of its Complaints Management Framework which is meant to address complaints arising from issues that are covered under the FMDQ Rules1. This was done in accordance with the Securities and Exchange Commission (“SEC”) Rules
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 April 2016 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
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