The Nigerian Stock Exchange (NSE) in collaboration with some stockbroking firms has introduced into the nation’s capital market an online trading application, known as ‘Smart Trade’.
The project is expected to increase retail investors participation to 25 million in the nation’s bourse.
Speaking at the product launch in Lagos, Mr Ade Bajomo, NSE Executive Director Market Operations and Technology, explained that the platform would enable investors to buy and sell stocks on the exchange with real-time processing functionality.
Bajomo said that registered retail investors on the Central Securities Clearing System currently stood at five million noting that the NSE’s target was to increase it to 25 million.
He said that the platform was not about technology but about financial inclusion, transparency and to make investors take control of their investment decision.
“What drives the market is that everyone participates, operates and nurture his or her investment,” Bajomo said.
He said that the platform would provide users real-time market data with availability of various technical indicators to analyse the trend and momentum of the market.
Bajomo also said that the platform would enable make informed decisions based on the latest data.
He stated that the product was made up of world-class technology with robust client data protection and security framework to give clients a seamless experience when processing transaction.
He said that “the platform has a robust security features which is well articulated to ensure that investors trades and accounts are not compromised.”
According to him, the platform provides access to in-depth market insight with the research materials of the company to enable clients make informed investment decision. “This platform will enable our client make their stockbroking portfolios on mobile devices tablets, laptops and desk top computers,” he said.
The 24/7 connectivity to the portfolio is complemented by access to the company’s online customers support for customers to talk directly to customer service team,” he said. Also speaking, Mr Oluwole Awe, Managing. Director, Investment One Stockbroking International Ltd, commended the NSE for the initiative aimed at moving the market to the next level.
Awe said that the stockbrokers would support the initiative to achieved the desired result.
Mr Wole Abegunde of Meristem Securities Ltd., said that the online application could be accessed through google without any cost.
Abegunde said that the days of moving from one stockbroking firm to the other to execute transaction was over with the launch of the application
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