By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) said Monday that it is in its final stages of negotiating a contract for a new Trading Engine before the end of year 2011.

Ade Bajomo, Executive Director (ED) Market Operations & Technology of the Nigeria’s Exchange made this affirmation at a Workshop for Capital Market Correspondents jointly organised by the NSE and the Nigeria’s Central Securities Clearing System (CSCS).

“We are at the final stage of negotiating a contract for a new Trading Engine and it will be one of the best in Africa to be launched before the end of the year” he said.

Bajomo who presented a paper titled “What is New at the Nigerian Stock Exchange” on behalf of Oscar Onyema, Chief Executive Officer (CEO) of the Exchange said to enable the Exchange better focus on its Market development efforts, one of its 2011 key initiatives, a segmentation exercise was conducted to analyse key aspects of the Nigerian Capital Market (NCM) currently impeding growth, “specifically liquidity, Issuer and Investors confidence” Bajomo said.

This is coming on the heels of the launching of the Market segmentation of the Nigeria’s Exchange going live on Tuesday, November 1, 2011. On this date, The NSE systems and Market Reports will reflect key changes to the Markets, Boards and Industry sectors.

The Exchange will also unveil new parameters for segmenting Equities by Market Capitalisation, and into growth or income stocks.

According to the ED Market Operations & Technology of the NSE, those who would benefit from the segmentation exercise include Issuers (Companies) that will have increased visibility for inclusion in local and foreign Market portfolios and indices; and create Market harmonisation amongst Companies performing similar business functions.

To also benefit from the segmentation, are Broker-Dealers who will have additional opportunities to create new tradable instruments; such as Exchange Traded Funds (ETFs) and provide value-added services to informed retail investors.

Others are the Investors who will understand the Market and be knowledgeable to construct and diversify their portfolio and the Stock Exchange that would become more efficient, attractive and less vulnerable aligned with global Exchange best practices.

On the theme of the Workshop titled “ Timely and Accurate Reporting of Capital Market Activities by Journalist” Onyema represented by Bajomo said in his welcome address the theme was influenced by one of the critical needs in the Market today-that of ensuring better Investors education, underpinned by access to quality information that Investors can base investment decisions on.

It goes without saying that information is the lifeline of any vibrant Financial Market. The timing, accuracy, delivery and analysis can have not only individual, but systemic impact to the Market at large” he said.