Stakeholders Back Data Processing to Benefit Capital Market Investors

By Adedapo Adesanya

Conversations in the business world are experiencing a shift with disruptions replacing traditional models which are challenging investors and markets to adopt new innovations.

This was the premise around the Nigerian Stock Exchange (NSE) Market Data Workshop 2019 held in Lagos on Wednesday, September 11.

The event themed: “Partnership, Products, and the Customer” brought stakeholders from the financial world, the technology sector, and academia together at the one-day event to look at the potentials of data analysis and positions investors to maximize returns at the stock market.

The Chief Executive Officer of the stock exchange, Mr Oscar Onyema, expressed his delight at the event, which was in its fourth edition, and remarked on the innovative advantages of utilising market data.

Speaking at the Market Data Workshop on Wednesday in Lagos, Mr Onyema noted that: “There is a global increase in the general consumption and spending on Financial Market Data and Market data analytics, stretching beyond the market data typically provided by stock exchanges for equity trading”.

He also disclosed that the Stock Exchanges and Data vendors were already responding to this increasing demand using new tools for market data products

The event also featured a lecture series titled ‘Stochastic Models, Market Data, and Weird Symbols’ by Dr. Mary Akinyemi, a lecturer of Mathematics at the University of Lagos, explaining understanding the functionalities of data in analysing and developing solutions to deliver a data product that is easily consumed to make informed investment decisions.

In a panel discussion led by the exchange’s Head of Market Service, Mr Olufemi Balogun, there was an extensive discussion on “The Role of Market Data in Decision Making”, featuring Dr Bridget Nkemnole; a senior lecturer of Mathematics at the University of Lagos; Adeolu Aderenlu, Deputy Chief Information Officer (CIO) of Zenith Bank Plc; Ifeyinwa Kojo; Country Lead – Sales for Hewlett Packard Enterprises; Tosin Beredugo, Head of Technology at the NSE; David Ogunsola, Head of Information Technology, C&I Leasing; Uwa Agbonile; CEO of Infoware Limited.

Tosin Beredugo, Head of the Technology at the exchange during the discourse noted that the exchange was on the path to hitting a goldmine that would be profitable for investment.

“By investing in best in class technology, the NSE rolls out innovative solutions to filter and process Market Data turning raw data into information, helping retail investors make better investment decision,” he said.

After the panel discussion, Miss Osadare Eniola, Business Development Manager at InfoWARE Limited, gave a presentation titled “Market Data and Analytics: Tools for Reducing Corporate and Investment Risk, where she analyzed the importance of market data using Efritin.com, which stopped its operations in 2018 and Uber, which has since increased its portfolio exponentially, as case studies.

The event also saw the unveiling and demonstration on the Beta version of The NSE X-mobile App by Head of Strategy at the NSE, Mr Okon Onuntuei, which the exchange says is targeted at boosting retail investors participation within the Nigerian Capital Market.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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