Not a few equities investors (individuals or institutions) would be fair to suggest that the global economy has come into the information age and if Nigeria is to stay current with the world, then, we also must move in that direction. This takes us to the well known statement that “Knowledge is Power” and many of the ills that African continent has suffered is precisely due to lack of knowledge, and information.
As a way of bridging this identified gap, the Nigerian Stock Exchange (NSE) has engaged in an effort to bring more information and greater knowledge to market participants. Through the Network Solutions Initiative in partnership with Thomson Reuters, NSE is embracing the information age and bringing sophisticated information and data capabilities to the Exchange.
The increasing need for market information and knowledge no doubt must have been considered so as to allow people to access and conduct the business of the Exchange without physically coming onto the floor of the Exchange – an initiative which is convenient and cost saving.
According to Ndi Okereke-Onyiuke, Director General, Nigerian Stock Exchange, “the Network Solutions Initiative is a part of our greater Corporate Transformation activity with a focus on leveraging information assets and networking technologies to boost the service delivery capacity of The Exchange.
“We want to reach more people with more products, and do so more effectively. We looked at the Network Solutions Initiative as an investment in our future and we determined that one cannot stop investing in the future even while addressing critical issues of the moment. This is a mistake many organisations and even countries make when they stop thinking of how to provide for the future just because of present concerns.” Speaking further, she said that to support the Network Solution Initiative, NSE has established a business subsidiary called Exchange Data Systems (EDS), whose mandate is to develop, market, implement, and operate the Network Solutions programs.
“Reuters is one of the first companies to partner with Exchange Data Systems and over time other partners and interested parties such as yourselves will be beneficiaries of the services that have been made available through EDS,” she added.
One of the key services enabled through EDS is the availability of a live data feed from The Nigerian Stock Exchange. This means that now you as an investor can see NSE pricing and quote information in real time from anywhere in the world. This capability will allow investors to make informed decisions regarding trading opportunities.
There are many benefits of Network Solutions Initiative through Exchange Data Systems. “These programs will greatly increase market access by allowing more people to remotely participate and interact with the Exchange.
With the adoption of technology you will see increase in the volume, speed, and efficiency of transaction. You will also see greater transparency in the overall operations of the Exchange as we support real time, networked services. We are looking forward to an exciting time of transition ahead given the new products, investors, and industries that we are helping to create. This is our investment for our future,” Onyiuke added.