The Exchange supports innovations such as MERITRADE -which is being officially launched today by MERISTEM Securities Limited. Just a little under a year ago (June 2013), while discussing The NSE’s transformation strategy, we reiterated the fact that 21st Century Technology Strategies was a key part of the “five pillars” for growth -along with targeted Business Development, Strong Regulation, appropriate Investor Protection Strategies and growth enabling Market Structure.
While The NSE’s focus from 2011 to 2013 has been on restructuring, improving technology, product development and advocacy for changes to policy, in 2014 we determined to shift gears to drive innovations centered on increasing global visibility into the Nigerian capital market, developing a larger footprint on the continent and ultimately, targeting emerging market status. We believe that these steps are critical to The NSE becoming the foremost securities exchange on the continent. One of the strategic drivers of our 2014 -2016 objectives is to transform our market operators. Technology, process and human capital will be the hallmarks of this capital market operator transformation.
On the Technology front, we rolled out X-Gen, which is our next generation Trading Platform that supports FIX protocol. We believe that this will drive our market to the next level. We have mentioned over time that Mobile and Online trading are part of the next wave in our market development efforts as we exist in a hyperconnected world. This position is rooted on the realization that the Securities industry is largely powered by Technology.
Distinguished Guests, the MERITRADE platform being launched today has been demonstrated as one that provides Speed, Accessibility and Robustness of technology systems…all critical success factors of Modern Trading where key industry trends embrace Mobile/e-Trading and new technology-enabled trading models amongst other realities
We have been working towards increasing the retail investor base with intent of reaching out, even to the rural areas. Anticipatorily, MERISTEM’s MERITRADE should contribute substantially to the realization of this intent.