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NSE targets 25m investors through TradeSmart App

By on November 20, 2015

The Nigerian Stock Exchange (NSE) on Wednesday launched an online trading application called ‘Smart Trade’ as part of efforts to increase retail investors’ participation in the nation’s stock market to 25 million.
Although Nigeria has a population of over 170 million, only about five million investors are in the stock market.  But unveiling the stock trading app, Executive Director, Market Operations and Technology, Mr. Ade Bajomo said the new app would help to increase the numb 25 million in the very near future.

According to him, the platform would enable investors to buy and sell stocks on the exchange with real-time processing functionality.

He explained that the app is not only about technology but also about financial inclusion, transparency and to make investors take control of their investment decision.

“What drives the market is that everyone participates, operates and nurture his or her investment. The app will provide users real-time market data with availability of various technical indicators to analyse the trend and momentum of the market. At the end of the day, they will make informed decisions based on the latest data,” he said.

Bajomo explained that the product  is  made up of world-class technology with robust client data protection and security framework to give clients a seamless experience when processing transaction.

“The platform has a robust security features which is well articulated to ensure that investors trades and accounts are not compromised. It will enable our client make their stockbroking portfolios on mobile devices tablets, laptops and desk top computers,” he said.

Also, Managing Director, Investment One Stockbroking International Limited, Mr. Oluwole Awe, commended the NSE for the initiative aimed at moving the market to the next level.
Awe said that the stockbrokers would support the initiative to achieve the desired result.

Similarly, the MD of Meristem Securities Limited, Mr. WoleAbegunde said with the launch of the app, the days of moving from one stockbroking firm to the other to execute transaction was over.

The MD of Apt Securities and Funds Limited, Mr. GarbaKurfi  testified the efficiency of the innovation in the market, saying it a good development that will really deepen participation in the market.

 

[ThisDay]