NASD OTC Exchange Rebrands Trading App to Boost Market Access

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange has relaunched its new mobile trading app (NASDMobile) as part of efforts to boost the accessibility of retail investors to the market.

As a bourse, NASD OTC serves as an alternative stock exchange for public companies that can’t list on the Nigerian Exchange Limited (NGX) due to its stricter regulatory requirements.

However, it is not a relatively unknown bourse due to its small size and structure even as it admits top companies like Aradel Holdings Plc, FrieslandCampina Wamco Nigeria (makers of Peak and Three Crowns milk), Food Concepts Plc (parent company of Chicken Republic), Access Bank, and Central Securities Clearing Systems (CSCS) Plc, among others.

With a market valuation of over N1 trillion, the opportunities in the NASD OTC Securities Exchange remain to be tapped and with the launch of the app, the company will be looking to woo investors to acquire more stocks.

The firm also launched the NASDMobile Broker Portal, which integrates with the NASDMobile app to enable the stockbroker to carry out Know-Your-Customer (KYC) validation for investors and more.

“In today’s fast-paced world, we understand the value of convenience and real-time information. With the NASDMobile app, personalized trading experience is now available to investors,” the company said in a statement.

“We believe that this Mobile trading app and Broker Portal will greatly enhance your trading experience and offer you the flexibility you need to adapt to the ever-changing financial markets. It reflects our commitment to continuously improve our services to meet your evolving needs,” it added.

The new app has features that include order placement, which allows the buying and selling of orders from mobile devices and real-time market data as well as ubiquitous access to the market. Users can also track and manage investment portfolios, review historical performance, and gain insight into trading activities.

Users can also customize alerts for price changes, news updates, and review/confirmation of KYC updates.

The mobile app is available for iOS devices and Android device users on their respective app stores while prospective brokers have to contact NASD Market Operations to be onboarded on the Broker Portal.