Don't Miss


Home   >   Business   >   Industries   >   Economy   >   NSE moves to reduce trade alert charges

NSE moves to reduce trade alert charges

By on April 4, 2011

The Nigerian Stock Exchange has said that there are definite moves to reduce trade alert charges of investors.

The Interim Administrator of the NSE, Mr. Emmanuel Ikazoboh, disclosed this during a meeting with Chief Executive Officers of stockbroking firms on Friday.

He said, “The NSE is currently negotiating for the reduction of trade alert charges. But it is important to note that these transactions will be nullified if the investors’ mobile telephone numbers are not available with the Central Securities and Clearing System.

“Therefore, all purchases or sales mandates must contain the investor’s telephone number so that the alerts can be sent to them promptly.”

Ikazoboh also told the brokers that the new Managing Director/Chief Executive Officer of the NSE would resume today (Monday) and ring the closing bell at the close of equity trading activities.

He, however, noted that only one of the two new executive directors would resume immediately.

According to him, the NSE “shall in due course raise the daily price movement limit from five per cent to 10 per cent, while the trading period will be extended to 5.00pm.”

He added that stockbrokers and the market community would be informed as soon as the date was fixed.

Meanwhile, the NSE Index committee members held their quarterly meeting last week to review and rebalance the NSE-30 Index.

At the end of deliberations, Afribank Plc and Bank PHB Plc were added to the NSE 30 Index.

Other companies also added were Dangote Cement Plc, Sterling Bank Plc and Total Nigeria Plc.

source : Punch