The Nigerian Stock Exchange came into existence as Lagos Stock Exchange in 1960. In December 1977 it got its name changed to Nigerian Stock Exchange which at present has a variety of branches with head offices at Lagos. The branches are at Kaduna, Port Harcourt, Kano, Onitsha, Ibadan, Abuja, Yola and Ilorin.
It started with about 19 securities listed for trading but right now more than 250 securities are listed on the Exchange. Most listed businesses are affiliated to foreign organizations and represent economy that variety from agriculture to manufacturing and solutions. It is in the history of 39 years with no frauds or scandals to date that has infused lots of self-assurance and trust among the investors. This is the purpose why capital in the stock organization has risen to the tone of $ 3 billion also indicating that the NSE has been deemed as one of the most effective companies in Nigeria.
To improve the flow of foreign investment in Nigeria, the government took initiative to abolish law pertaining to prevention of foreign capital flow. Now investors and operators of any country in the planet are free of charge to participate in the activities of this organisation . The governing body of Nigerian Stock Exchange is Securities and Exchange Commission (SEC).
The trading carried out in the NSE is of shares, corporate and government bonds. The company hours for trading are from 11.00 to 1300 hours day-to-day on weekdays. Now to make trading quicker, simpler and safer an Automated Trading Method is utilised in Nigerian Stock Exchange, Central Securities Clearing System Limited (CSCS) is responsible for clearing, producing settlement and executing delivery of transactions in Nigerian Stock Exchange. This was completed to aid the house in becoming a lot more investor friendly.
The commission has also launched its Web Technique to achieve and overcome the challenges poised by internationalization. The local and international members of the stock exchange can access key marketplace data like trading statistics and corporate trading final results.
The issuing homes or stockbrokers determine the costs of new stocks and that of secondary marketplace cost is accomplished by stockbrokers only as they determined by the prevalent market forces.
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