Friday, December 29, 2017 /4:00 PM / NASD Plc
NASD OTC has re-launched its proprietary trading system, the Bilateral Interdealer Trading System (BITs) to enhance the flexibility and dynamism of the OTC Market.
The trading system is a fully clouded platform that allows for trades to be conducted and consummated between registered Brokers online. It is also an efficient and scalable trading platform, with high reliability and capacity to accommodate a wide range of structured products that might have difficulty trading on a full stock exchange.
Bola Ajomale, CEO at NASD comments “The BITs platform is designed to reflect the NASD OTC Market dynamics, given that most trades are bilateral and in large packets between Participating Institutions. In particular, the platform makes available information on outstanding orders that have not yet been matched – creating additional liquidity and transparency for investors”
The Week in Review
NASD closed its trading day on Friday 29, December 2017 higher compared to last Friday. The Market Capitalisation gained 3.11% this week, closing higher at ₦409.34 billion against ₦396.97 billion previously. The NASD USI also increased 3.11% this week, closing at 604.88 points, as against 586.60 points last Friday.
NASD OTC Securities Exchange currently trades Equity and Bonds. Of the 34 securities admitted to trade on the OTC Market, Friesland Campina Wamco Nigeria PLC both led the market by volume and value.
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