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NSE trains operators on derivatives trading

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The Nigerian Stock Exchange (NSE) has intensified efforts to achieve a strong derivatives market with the training of capital market operators.

Mr Oscar Onyema, NSE Chief Executive Officer, said in a statement in Lagos on Wednesday that the training was organised to equip the operators ahead of the launch of derivatives trading.

Onyema said that derivatives had contributed to the impressive growth in the global financial market over the past 20 years.

“Today, the global derivatives market is the main pillar of the international financial system and the economy as a whole,” he said.

Onyema said that NSE had built the regulatory and technology framework and competence required to support the launch of a standardised exchange traded derivatives market.

He added that the NSE would build a derivatives market that meets global standards.

“We have worked with regulators such as the Securities and Exchange Commission and the Central Bank of Nigeria to establish the right regulatory and legal framework for derivatives in our market.

“We will also continue to build on the trading infrastructure that will ensure domestic and foreign stakeholders are able to trade seamlessly once we launch within subsequent months.”

Onyema also quoted Mr Charles Rubin, derivatives consultant, as saying that derivatives had increased trading activity significantly across markets.

Itohan Abara-laserian

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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