The Nigerian Stock Exchange (NSE) opens today with a new market structure aimed at creating an optimal market design that facilitates improved market depth, liquidity provision and price efficiency.
The improved market structure, which took effect from today, July 2, 2018, is expected to create a level playing field for all market participants, and allow for the creation of new trading strategies.
Under the new market structure, market makers and other dealing members will be able to participate across all trading sessions, which will further support competitive pricing, reduced spreads, and best execution.
Its Chief Executive Officer, Mr Oscar Onyema, said the review of the equities market structure was carried out to support the Exchange’s hybrid market model, which offers the benefits of best execution and tighter spreads to investors.
“Moreover, it provides potential for cheaper cost of capital to issuers in our market. This market structure is in line with our 2018 to 2021 corporate strategy aimed at boosting retail investor participation,” Onyema said.
He reiterated Exchange commitment to maintaining a platform that engenders a fair and efficient market in line with global standards.