NSE To Grow Retail Investors To 25m | Independent Newspapers Limited
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NSE To Grow Retail Investors To 25m

Posted: Nov 19, 2015 at 9:00 am   /   by   /   comments (0)

Following the massive sell off that has characterised the Nigerian stock market and the growing apathy to investment by domestic investors, the Nigerian Stock Exchange (NSE) said it planned to increase retail investors’ participation to 25 million with the launch of ‘Smart Trade’ online trading application.

The platform, which was inaugurated in partnership with four stockbroking firms, will also enhance transparency in the market and boost investor confidence, according to the Exchange.

The NSE Executive Director, Market Operations and Technology, Ade Bajomo, while addressing market participants at the launch of the platform in Lagos yesterday, noted that the platform would enable investors buy and sell stocks on the exchange with real-time processing functionality.

Bajomo explained that registered retail investors on the Central Securities Clearing System (CSCS) currently stood at five million, noting that the NSE’s target was to increase it to 25 million in the near future. He said that the platform was not about technology but about financial inclusion, transparency and to make investors take control of their investment decision.

“We need to grow the market. What drives the market is that everyone participates, operates and nurtures his or her investment. We need a right infrastructure to facilitate this growth and we have to tap into this growth using this new paradigm,” Bajomo said.