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NASD records N547.46bn capitalisation, migrates to new trading platform

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Nigerian Stock Exchange

By Nkiruka Nnorom

The positive sentiment that is sweeping through the equities market last week also robbed-off in the Over-the-Counter market as the NASD Plc’s market capitalisation rose by 2.6 percent to N547.46 billion.

This is even as the exchange said ii is migrating to a new trading platform “NASD Electronic Trading System: N-ETS” with effect from Monday November 23, 2020.

The exchange said in a statement that participants will no longer be able to access the legacy system Bi-lateral Interdealer Trading System (BiTS).

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“The NASD Electronic Trading System brings more functionalities to ensure a more efficient trading experience for market participants and enables trading of new asset classes which erstwhile were not available OTC market.

“Specifically, the platform provides Automated matching engine

Multi Securities Support Order and Quote market models Order Management gateway & routing support Centralized order management Secure Data Interchange Standard Messaging for Market Data OMS User Friendly Interface,” the statement said.

It said that participants who have undergone training programme to acquaint themselves the capacity and functionalities of the new platform will automatically be migrated to the new platform.

Meanwhile, the NASD Securities Index also rose by 1.4 percent to 736.53 points,  while 25.94 million shares worth N3.67 million were exchanged in 5he market in four deals.

Vanguard New Nigeria

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