By PETER EGWUATU
In a bid to reposition the Nigerian capital market and make it attractive to both local and foreign investors, the Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) are collaborating with Bloomberg towards providing unparallelled global data, news and analytics in one comprehensive solution.

Speaking at a breakfast meeting jointly sponsored by Bloomberg, SEC, and NSE, weekend in Lagos, Director- General of the SEC, Ms. Arunma Oteh said the commission is determined to make the market very attractive and competitive in line with global standard.

She stated that for Nigerian capital market to link with the rest of the world, Bloomberg will help to draw up a strategic architecture for enhancing performance in the Nigerian capital market through a more efficient use of digital technology and analytics.

According to her, “SEC wants to eliminate investors’ worries and reluctance and help address issues relating to governance, integrity and investor confidence.

He said the Commission is partnering with Bloomberg and key stakeholders in the Nigerian capital market to achieve this goal.

Speaking, Chairman of Bloomberg, Mr. Peter Grauer disclosed that Bloomberg will meet with government agencies to discuss ways of providing the much needed information and data that connects policy makers to markets , economies , legislation and the regulatory process.

Continuing, he stated, “This is precisely the effect which the emergence of Bloomberg in 1982 has had on the global business landscape and capital markets. We are leader in global business and financial information provider as our platform helps decision makers with data, analytics, news and insight to give them an edge.

“Through our basket of professional services delivered by 15000 workers in 192 locations, Bloomberg connects decision makers to a dynamic network of information, people and ideas. Our strength is to quickly and accurately deliver data, news and analytics through innovative technology.

“The company’s services are patronized by 310,000 customer organizations from around the world.”

He noted that its organisation will make information and data more readily available to end–user participants in the market, adding that the objective is to raise the bar of information sharing and intelligence delivery in the market in order to enhance integrity, transparency and accountability.

In his comment at the occasion, the CEO of the NSE, Mr. Oscar highlighted some steps and measures taken by the Exchange to enhance market performance. These include:  signing of NASDAQ OMX to provide a new trading platform for the Exchange that is robust, introduction of market makers to enhance liquidity, reclassification of sectors to reflect the economy, among others.