Nigerian Exchange Limited (NGX) has rebranded all its existing indices by changing the prefix from NSE to NGX. The transition, which is effective Monday, June 28, 2021, leverages on the new brand identity of the Exchange.
There are currently nineteen (19) indices – either wholly-owned or co-branded – on NGX, servicing the investment management community along the lines of product development, benchmarking.
The recent demutualisation led to the transformation of The Nigerian Stock Exchange to a non-operating holding company, Nigerian Exchange Group Plc. (NGX Group).
Consequently, The Group now has three wholly-owned operating subsidiaries, namely: Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX RegCo), the independent regulation company; and NGX Real Estate Limited (NGX RelCo), the real estate company.
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Consequently, the rebranding of the indices is in line with NGX’s drive to standardise and ensure consistent expression of the brand across touchpoints.
All indices from Nigerian Exchange Limited has now been rebranded with a pre-fix, NGX, to promote brand awareness and recognition. Market players should however note that this exercise will not affect the computation methodology of the indices.
The NSE All-Share Index (ASI) is now NGX All-Share Index (ASI), while NSE-Main Board Index is now NGX-Main Board Index.
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The NSE 30 Index is now NGX 30 Index), NSE CG Index (NGX CG Index), NSE Premium Index (NGX Premium Index), NSE Banking Index (NGX Banking Index), NSE Pension Index (NGX Pension Index), NSE Insurance Index (NGX Insurance Index), NSE ASeM Index (NGX ASeM Index), NSE-AFR Bank Value Index (NGX-AFR Bank Value Index), NSE AFR Div Yield Index (NGX AFR Div Yield Index), NSE MERI Growth Index (NGX MERI Growth Index), and NSE MERI Value Index now NGX MERI Value Index.
Also, the NSE Consumer Goods Index is now NGX Consumer Goods Index, NSE Oil/Gas Index (NGX Oil/Gas Index), NSE Lotus Islamic Index (NGX Lotus Islamic Index), NSE Industrial Goods Index (NGX Industrial Goods Index), NSE Growth Index (NGX Growth Index), while NSE Sovereign Bond Index is now NGX Sovereign Bond Index.
As NGX continues to provide a platform for investors and issuers to meet their various investment objectives, this rebranding effort is a testament to NGX’s commitment to providing an efficient market that reflects available information.
Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July.
