NGX to Host CIS, Reopen Exchange Trading Floor Since 2020
Kayode Tokede

The Nigerian Exchange Limited (NGX) will host a Closing Gong ceremony to commemorate the 30th anniversary of the Chartered Institute of Stockbrokers (CIS) and the reopening of the trading floor of the Exchange on Monday.

CIS is a leading face of capacity building and professionalism in the Nigerian capital market and are critical stakeholders to its development. Incorporated in 1990 and chartered in 1992, the Institute is the sole provider of professional qualifications for stockbrokers, securities dealers, financial and investment analysts, portfolio and fund managers. The Institute’s outstanding resilience and longstanding partnership with the Exchange has significantly advanced the Nigerian capital market.The Exchange will also be reopening the trading floor on the same day to bring back physical trading activities.

As a measure to curtail the spread of the coronavirus, NGX disclosed to stakeholders in March 2020 that it would resort to remote trading for 30 days and strengthen online support for brokers to ensure the adequate operation of the market. This was later extended indefinitely and with NGX’s investment in technology – including the state-of-the-art XNET facility and FIX protocol – the market has been functioning effectively with zero downtime for over 30 months.The unwavering commitment and support of trading license holders during the period ensured the overall adaptability and innovativeness of the Nigerian capital market. NGX remains committed to promoting efficient collaboration, fostering healthy relationships, and championing capital formation in creating value at large for the Nigerian economy.