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Stock Exchange says X-Issuer to enhance market integrity, participation

 In recognition that accurate information is imperative in driving a vibrant capital market, Oscar Onyema, Chief Executive Officer, Nigerian Stock Exchange (NSE) said that the Exchange’s first Issuers’ Portal (X-Issuer) will result in greater market integrity and participation.

The CEO noted that portfolio investors had challenged the NSE to provide better quality financial information from its issuers in an internationally acceptable format that is easily accessible.

The Issuers’ Portal, is a key regulatory initiative of the NSE, which will entrench structure and control in the submission and dissemination of company information. It will provide an unparalleled opportunity to significantly reduce information leakage and eliminate delays associated with the discharge of issuers’ post-listings obligations in a cost effective and efficient manner.

According to Onyema at the launch of X-Issuer, “there is a need to bridge the current information gap between listed companies and the capital market, which is information driven.

It is also time to look beyond the submission of information to the Exchange by post, hand delivery or courier. Let us jointly create a world of information repository in the capital market that will facilitate quick and easy access to information by investors and other interested parties globally.”

Onyema said “This is yet another of the many steps we are charting to bring to fruition our vision of becoming the gateway to African markets. The launch of X-Issuer is more than just a mere passion for 21st century technology strategies. The introduction of the Issuers’ Portal embodies the Nigerian Stock Exchange’s unwavering commitment to providing a first rate platform that will enable all stakeholders build and grow their businesses.”

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