Nigerian Stock Exchange to charge N5 per million on debt instruments traded on its platform

No fewer than 39 listed companies that filed their Audited and Interim Financial Statements after the regulatory due dates for years 2019 and 2020 paid the Nigerian Stock Exchange (NSE) penalties cumulatively valued at N345 million.

In line with its ambition to support Nigeria’s economic growth by providing a liquid, efficient, and multi-asset securities exchange hub, the Nigerian Stock Exchange (NSE) has enhanced its Fixed Income Securities market segment as well as the associated benefits to trade execution via its platform.

As part of its liquidity-enhancing efforts, the Exchange introduced a trading fee moratorium as communicated via a press release dated 11 August 2016 to stimulate activities and liquidity in the fixed income market. Following the end of the 4-year Fixed Income Securities Trading Fee moratorium, the Exchange has now received the regulatory approval of the Securities and Exchange Commission to revise its fee structure.

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The revised fees will become effective on 5 October 2020. Under this revised fee structure, The Exchange will charge 0.0005percent (N5 per million) on debt instruments traded on its platform.

The NSE offers a hybrid market for the execution of quote and order-driven transactions providing dealers as well as institutional and retail investors access to increased liquidity in Fixed Income Securities. By leveraging best-in-class market design and infrastructure, the NSE trading venue provides investors an integrated straight-through trading and post-trade process that supports efficient execution without any trade failures across all asset classes including Fixed Income Securities. Investors trading via the NSE platform can also enjoy access to diverse listed debt instruments including Federal Government, State Government, Corporates, Supranational, and Retail Savings Bonds.

The Exchange continues to conduct various training, workshops, and conferences on Fixed Income Securities products to build domestic capacity and enhance financial literacy while encouraging inclusiveness. We remain committed to our corporate goal of providing investors and businesses a reliable, efficient, and an adaptable exchange hub in Africa, to save and to access capital.

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By Iheanyi Nwachukwu • October 2, 2020

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.