SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

CREATE AN ACCOUNT FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!

CREATE ACCOUNT

ALREADY HAVE AN ACCOUNT?

Magnartis Finance & Investment Limited

  • LOGIN
  • Home
  • About
    • About Us
    • Management Team
    • Directors
  • Services
    • Stockbroking
    • Portfolio Management
    • Corporate Finance
    • Advisory Services
  • Projects
  • Download
  • Contact
  • Open an account
  • Home
  • Nigerian Stock Exchange to offer derivatives by 2016
  • Capital Market News
  • Nigerian Stock Exchange to offer derivatives by 2016
 

Nigerian Stock Exchange to offer derivatives by 2016

Nigerian Stock Exchange to offer derivatives by 2016

by magna / Thursday, 27 November 2014 / Published in Capital Market News
Oscar Onyema

Oscar Onyema

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Oscar Onyema, has said the bourse plans to start allowing trading by 2016 of derivatives such as futures and options in interest rates, currencies and equity indexes.

The exchange, one of the main entry points for foreign funds looking to tap Africa’s fast-growing economies, now only offers shares, bonds and exchange-traded funds.

Onyema said the exchange’s surveys showed there was “encouraging” demand for derivatives, which help investors to manage the amount of risk they take on.

“Our target is to really get them by 2016 at the latest,” he told Reuters late on Tuesday, adding they were setting up a clearing house, which required significant investments.

“You need to get all the major banks to buy into the idea and support the development of such an institution,” Onyema said.

He said the bourse was changing its ownership structure from a mutual company of 240 members in order to add shareholders and prepare for a possible initial public offering (IPO).

The process, known as demutualisation, will help the exchange improve its governance through opening up its ownership and could lead to new fundraising to support expansion.

“Once we have completed demutualisation, a decision will be made as to whether go straight and do an IPO or whether we will do strategic partnerships or whether we will do private equity funding,” Onyema said.

This year, shares in the oil producing-nation have taken a battering, losing about 15 percent. Foreign funds sold shares after the naira lost value in the wake of steep falls in the price of crude oil.

Next year’s presidential election has also been feeding jitters, Onyema said.

“We are just going through a cycle and I believe that given the fundamentals, how strong the listed companies are … we expect to see the market return in a strong way,” he said.

Reuters

Source : BusinessDay

About magna

What you can read next

5 reasons Americans are unhappy
New demographic study unveils fresh investment opportunities in retail market
Foreclosure activity drops to pre-recession levels nationwide

Market Capitalization

[visualizer id="161"]

Newsletter Subscription


 

About Us

Magnartis Finance & Investment Ltd (“Magnartis”) is a Dealing Member of The Nigerian Stock Exchange with expertise in Stockbroking and Trade Execution Services.

Download

  • FGN Savings Bond Subscription Form
  • Mandate For Ebonus
  • Cscs Clients Authorization Form For Change Of Bank
  • Cscs Client Bank Update Form
  • Account Opening Form KYC

Research

  • Daily Price List
  • Daily Market Summary
  • Weekly Market Summary
  • Special Reports

Contact Info

16, Boyle Street, Onikan, Lagos, Nigeria

Office Number:
01-4538066

E-mail:
info@magnartis.com

  • GET SOCIAL

© 2014 Magnartis Finance & Investment Limited. All Right Reserved

TOP