Market maintains positive stance in March 2016; MERIFX diversifies market -March ’16 SSS Report

Proshare

Wednesday, April 06 2016, 09.52AM / research@proshareng.com

Nigerian Equities Market maintains positive outlook in the month of March 2016 as it recorded +2.29% gains as against +2.74% gains recorded in the previous month. Consequently, the market YTD performance continues to buttress analysts call that market may close the year negative as it closed at -11.65% at the end of the month under review.

The launch and introduction of MeriFX by Meristem Securities Ltd, the first Stock Brokerage Firm in Nigeria to launch an online trading platform, MERITRADE, in the Nigerian Capital Market, can be said to be a game changer within the Nigerian Financial Market Space.

The MeriFX trading platform, one of the latest innovations in the market, allows investors to trade FOREX, Commodities, Indices and an array of US Shares using the Naira and it is done at Zero FX conversion costs.

To aid profitability while trading, MeriFX provides up-to-speed market price data, interactive charts, and technical analysis tools for all products, along with a trading ticket that allows clients place instantaneous trades or orders into the market.

This giant stride from Meristem Securities Limited was not the first in their list of innovative products as they have other leading market trading platforms like MERITRADE and MERIBOSS which were launched for the trading of securities and connected directly to the NSE trading engine, X-Gen.

Also, the FMDQ OTC market launched its Dealing Member (Specialists) (DMSs) category of membership, for non-bank financial institutions (NBFIs) to act as market makers in the FMDQ fixed income market. This is in line with the market’s vision of becoming No. 1 in Africa in the Fixed Income and Currency Markets by 2019.

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 March 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 
sss@proshareng.com

Thank you.

For: Analyst Editorial Board

 

Reshu BAGGA

CEO, The Analyst

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