By Dipo Olowookere
The management of NASD OTC Securities Exchange, a platform set aside for the trading of shares of unlisted companies, has listed some of its achievements in the outgone 2018.
NASD said the year commenced with a release of pent up trading activity that had built up during the 15-month recession period.
It said first depressurization in quarter one of 2018 alone resulted in trade activity that exceeded total trade activity of 2017 (in volume and value)!
In addition, retail investors regained an interest in OTC stocks while institutional investors confirmed their confidence in NASD market structure by executing long term acquisitions in some of the better managed securities.
It further said the entry of Allianz Plc into the Nigerian Insurance landscape and various private equity firms into the financial sector were significant stand out events.
Also, a fully indigenous firm; Agemate limited refined and released two versions of the Bilateral Interdealer Trading System [BiTs] during the year.
Furthermore, the flexibility of BiTs enabled the trading platform to provide the Over-The-Counter (OTC) community with a more representative Value Weighted Pricing methodology – further encouraging investor interest and price discovery.
It said the Apex regulator also provided full support of the market and approved its scheme to launch a trade guarantee fund which will ensure that no investor will lose from a failed trade on the NASD OTC.
NASD stated that 2018 also witnessed our introduction of the capital market to the growth enterprise industry through NASD Enterprise Portal, www.nasdep.com.
“We remain convinced that the bulk of Nigeria’s economic activity will come from this segment. We acknowledge the several financial advisers and private equity firms that have already enlisted to play in this critical area,” it said.
The trading said in order to allow for easier information access and market transparency, its website, www.nasdng.com, was revamped to include a unique data portal which provides observer access to daily market activity.
“We look forward to an exciting 2019 and wish you an even more memorable, prosperous and fulfilled 2019. As usual, we remain committed to our purpose of creating liquidity …transparently,” NASD said.
Adedapo Adesanya