N-ELTS Trading Platform will Enable Investors to Trade Commercial Papers, Other Instruments

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Tuesday, March 16, 2021 / 7:42PM / Ottoabasi Abasiekong / Header Image Credit: WebTV


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The NASD Plc N-ELTS Trading platform will enable investors to trade on commercial papers (CPs) and other instruments like ETFs on the Unlisted OTC Market.

 

Chinwendu Ekeh, Head, Operations and Technology, NASD NG Plc made this point while discussing the opportunities for deepening the growth of the "Unlisted OTC Market" in Nigeria.

 

She described the platform as web-based, cloud-based, user-friendly, and well secured for authorized dealers and investors to carry out their trading activities.

 

Before the Launch of the N-ELTS, the NASD Plc Ekeh said that there was a one-month demonstration of the platform with all the traders, which was an opportunity for them to provide the necessary feedback on how it could operate efficiently.

 

According to her the platform equally supports FX trading and in 2021 was developed into a Mobile App for convenience and accessibility to traders and investors.

 

Speaking on Digital Assets the NASD Plc has shown an interest in Crowdfunding and Blockchain amongst others, she acknowledged that the market value was over US$1trn and the opportunities and business case globally was compelling. The NASD's technology head believed that Nigeria would be part of activities in regulations, digital tokens, and other digital asset classes such as non-fungible tokens (NFTs).

 

The NASD Official highlighted the fact that Digital tokens could be used to trade assets like Real Estate and other products developed in the market.

 

In the area of supporting Small and Medium Enterprises (SMEs) in the country, she listed some of the initiatives that have been developed by the organisation which includes;

  1. NASDEP; NASD Enterprise Portal a web-based depository providing structured information about businesses.
  2. Venture Ramp;  A platform that seeks to support the development of SMEs, Individuals and also attaches experts to ventures
  3. Private Markets; The platform for building transparency and providing liquidity for SMEs

 

The three initiatives have since their roll-out focused extensively on areas and opportunities for supporting the growth of businesses in Nigeria.

 

Looking at the year 2021 which is two weeks away from the end of the first quarter, Ekeh was optimistic that there would be increased regulatory oversight to boost confidence and improve transparency.

 

She also added that there would be more transactions in the market from the Quotation list (Companies that are PLCs and eligible to trade) and the Secondary watchlist (the category for Companies not registered by the Securities and Exchange Commission (SEC)).

 

2021 according to her would see the NASD Plc introduce commercial papers which are awaiting final approval from the SEC.


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