Capital Market data delivery play critical role in economic development, the Chief Executive of Nigerian Stock Exchange (NSE), Mr Oscar Onyema has said.
In his key note address at NSE market data workshop on Tuesday in Lagos, Onyema said Exchanges requires specialized technologies designed to handle the collection, processing and dissemination of massive data streams.
He explained that at NSE, effort is “underpinned by our ‘next generation’ trading engine, X-GEN, which was built in collaboration with Nasdaq in 2013”, adding that “It is therefore very pleasant that this workshop is coinciding with the 3rd anniversary of X-GEN”.
Onyema said: “X-GEN is not only built to trade a wide range of securities, it is extendable to multiple interfaces for the consumption of market data.
“Additionally, it is FIX protocol version 5 enabled, improving market transparency and providing wide market access.
“It is these systems that we rely on daily to deliver approximately 2.5GB worth of data to our various domestic and global market data consumers. Excellence drives our services, thus we continually challenge ourselves to deliver our data faster and in more easily accessible formats to our clients”, said Onyema.
According to the NSE boss, despite the challenging economic conditions Nigerians are experiencing, the capital market still remains one of the main vehicles for economic development and wealth creation.
He said: “The NSE Premium Board has returned 11.3% YTD 17th October 2016. The level of private sector time deposits have declined by 14.4% to N3.8tn over the last one year (Sep ’15 to Aug ’16), while private sector savings deposits have increased by 19.0% to N3.5tn. The average interest rate on these savings and time deposits are 3.6% and 5.9% respectively.
“With an average inflation rate of 12.7% over the last year, the NSE Market Data Workshop, themed, “Understanding Market Data for Savvy Investing and Wealth Creation” could not be more apt.
“Domestic investors, and indeed foreign portfolio investors, require an elevated level of insight in order to discern between great investments and lame investments, especially during a challenging down cycle.
“That is why this workshop is designed specifically to provide capital market participants with sufficient knowledge about exploiting NSE market data for smart investment decisions.
Gathered here today (Tuesday) are leaders and experts in the global financial services sector; representatives of Independent Software Providers (ISPs); Market Data Vendors (MDVs); our colleagues from the telecommunications sector; other capital market participants; and many thought leaders of our great nation”.