As we close the year 2018, we note a rather remarkable 12 months of creating liquidity and supporting transparency in the Nigerian capital market.
The year commenced, with a release of pentup trading activity that had built up during the 15-month recession period. First depressurisation in quarter one of 2018 alone resulted in trade activity that exceeded total trade activity of 2017 (in volume and value)!
Retail investors regained an interest in OTC stocks while institutional investors confirmed their confidence in NASD market structure by executing long term acquisitions in some of the better managed securities. The entry of Allianze into the Nigerian Insurance landscape and various private equity firms into the Financial sector were significant stand out events.
A fully indigenous firm – Agemate limited refinedand released two versions of the Bilateral Interdealer Trading System [BiTS ]during the year. The flexibility of BiTS enabled us provide the OTC community with a more representative Value Weighted Pricing methodology – further encouraging investor interest and price discovery.
The Apex regulator also provided full support of the market and approved our scheme to launch a trade guarantee fund which will ensure that no investor will lose from a failed trade on the NASD OTC.
2018 also witnessed our introduction of the capital market to the growth enterprise industry through NASD Enterprise Portal (www.nasdep.com ). We remain convinced that the bulk of Nigeria’s economic activity will come from this segment. We acknowledge the several financial advisers and private equity firms have already enlisted to play in this critical area.
To allow for easier information access and market transparency, we were able to revamp our website – www.nasdng.com and include a unique data portal https://dataex.nasdotcng.com/ which provides observer access to daily market activity.
As 2018 closes, NASD PLC appreciates all contributors to the remarkable growth of the OTC market. We look forward to an exciting 2019 and wish you an even more memorable, prosperous and fulfilled 2019.
As usual, we remain committed to our purpose of Creating liquidity …transparently
