BY PETER EGWUATU

As the NASD Over the Counter, OTC Market activity continues to rise, about 15 participating institutions in the market have accounted for 93.8 per cent of the trade done in the year 2014 Of the 86 participating institutions, 37 had traded on the NASD OTC market by the end of 2014. The top 5 traders accounted for 62.9 per cent of total market activity.

The market analysis shows that Stanbic Ibtc Stockbrokers Limited recorded N 956.50 million, representing 19.9 per cent of market activity, followed by Nigerian International Securities Limited with N783.50 million, and representing 16.3 per cent of market activity. It was followed by BGL Securities Limited valued at N471.10 million, representing 9.8 per cent of market activity.

Others are Magnartis Finance & Investment Limited   worth N 445.10 million, representing 9.3 per cent ; Valmon Securities Limited N364.40 million, representing 7.6 per cent; Wstc Financial Services Limited N 250.90 million, representing 5.2 per cent; Resort Securities & Trust Limited N 232.40 million, representing 4.8%; Cordros Capital Limited N 177.00 million , representing 3.7%; Arthur Steven Asset Management Limited N173.10 million, representing 3.6 per cent, Capital Bancorp Plc N164.60 million, representing 3.4 per cent ;

Anchoria Investment & Securities Limited N 114.90 million, representing 2.4 per cent; Reward Investments & Services Limited N 105.90 million, representing 2.2 per cent ; Core Trust & Investment Limited N85.60 , representing 1.8 per cent; Chapel Hill Denham Securities N 83.80 million, representing 1.7 per cent; and Trusthouse Investments Limited N 83.50 million, representing 1.7 per cent.

The Chief Executive Officer, NASD Plc, Mr. Bola Ajomale, who briefed newsmen on the market performance in 2014 said “We understand that some of the Institutions are still developing trade competence for the OTC market.”

Commenting on the value added and achievements of the OTC market, he said “ The market has granted shareholders easy access to trading and depository statement; allowed shareholders the opportunity to use their Unlisted shares as collateral for loans; provided access to pre-trading information via CSCS website and fine tuned the electronic account opening process .”

While commenting on way forward in 2015, he said “ We expect the introduction of new product lines: We started the market with equity, we anticipate growth in the equities market and we also anticipate the introduction of other asset classes for trading on our platform. We also expect increased interactive sessions with market participants: We are going to build more relationship with all the participants in the market, including the shareholders of all unlisted companies; this will increase the level in the number of trades as well as demateralisation.

We will promote awareness and extend knowledge to shareholders to ease their participation in the OTC market through their brokers. Also there are going to be road shows across Nigeria: Our focus this year is to showcase the opportunities of the NASD OTC market to shareholders, issuers and market operators in states within Nigeria where certain attractions exist.”