• Thursday, February 29, 2024
businessday logo


NASD sees value in GTI private trading floor


The board of NASD plc is in discussion with GTI Securities Limited on possible areas of cooperation around securities trading using GTI Securities private trading floor.

NASD plc believes the partnership will help deepen Nigeria’s capital formation and create opportunities for more participation in Nigerian capital market.

Chike Nwanze, vice chairman, NASD Plc who led other directors of NASD plc on a courtesy visit to Nigeria’s first private trading floor built by GTI Securities in Lagos, said the NASD and GTI have complementary roles in deepening Nigerian capital market and would work together to achieve this common goal.

Nwanze, who is also the vice chairman and chief executive officer of Icon Stockbrokers Limited, described the GTI’s trading floor as “one of the greatest contributions that has come to our market” and applauded the dynamism of the GTI in ushering in a new era of development for the Nigerian capital market.

Bola Ajomale, managing director, NASD plc said NASD will work closely with GTI to explore the concept of its private trading floor, which he described as a “highly imaginative, state-of-the-art, world-class, first-of-its-kind” platform.

“We are very excited about this, it has really set a standard and we want to move closer to see how we can partner with GTI. I believe that the mind that put this together is not empty yet, it still has much more to come out of it,” Ajomale said.

Abubakar Lawal, group managing director, GTI Capital Group said the group has put together a network of financial resources and expertise to energise Nigerian companies and assist professional financiers to effectively perform their functions.

Tunde Oyekunle, managing director, GTI Securities pointed out that the trading floor is fitted with cutting-edge technology that allows seamless interconnectivity with the NSE and other exchanges as well as settlement agents and banks for real time online trading and straight through processing of transactions.

Abayomi Sanya, managing director, Goldbanc Asset Management Limited also reiterated his support for GTI pointing out that it has changed the growth curve of the Nigerian market as many operators are now reviewing their growth plans.

By: Iheanyi Nwachukwu