The Nigerian Stock Exchange (NSE) has said that the launch of X-Gen last year has brought innovative and enhanced trading capabilities to the naton’s capital market.
According to its Executive Director, Market Operations and Technology, Mr. Ade Bajoma, X-GEN has demonstrated its innovative trading capabilities and the Nigerian capital market has benefited immensely. “It remains the game changer. This platform has enabled the Exchange to create an improved trading experience”, he said.
On what the trading engine has helped the bourse to do, Bajomo stated: “With the launch of X-Gen, we have achieved so much in one year; improved market order flow, increase in the number of trades, high availability, direct market access, remote trading, and income diversification. We are mostly excited that X-Gen has also brought about the advent of mobile trading technologies to the retail and institutional segments of the Nigerian capital market”.
The X-GEN platform has the capacity to allow investors to have real time access to the market as well as their portfolios via the web and mobile phones (including smartphones and tablets running IOS and Android operating systems). This gives investors the ability to execute market orders in near real time conditions anywhere in the world. Riding on the new platform, many dealing member firms of the NSE have tapped on the benefits to introduce on-line trading platforms to deepen their businesses.
The President, Association of Stockbroking Houses of Nigeria (ASHON), Mr. Emeka Madubuike opined that “the X-GEN system is very robust, it has friendly market features that make the trading experience simple and easy.” He added that through the new trading platform, market transparency has increased. “We have become more efficient and we value the great offerings that the platform has to offer”, he said.
The launch of X-Gen showcases the untiring commitment of the Exchange to provide first rate platforms that will enable all stakeholders create durable wealth. Nigeria has now become a global player with innovative and market leading tools to compete, not just in Africa, but on a global basis.
Earlier, the Chief Executive Officer of the Exchange, Mr. Oscar Onyema said: “The introduction of X-Gen stems from our quest to enable our emerging market structure with 21st century technology and give us the foundation to join leading exchanges in building scale, scope and efficiency”.
He explained that the new system would improve transparency, market access, audit trail and provide efficient price discovery in the market. “It will therefore enable investors realize their investment objectives by using the three products currently offered at the Exchange in more meaningful ways”, Onyema added.
Source : SunOnline