Press Release

The Nigerian Stock Exchange (NSE) yesterday encountered a complex technical problem which impacted trading services for about 10 minutes.

Deputy General Manager and Head, Market Operations, The Nigerian Stock Exchange, Mr Ikponmwosa Obaseki, said that Technology Staff and Hardware Engineers were deployed and were able to resolve all issues to ensure that market transactions continued with minimum delay.

He explained that the market closed at the normal time of 2.30 pm but as a result of the interruption, it took longer to ensure integrity of the end of day transaction data prior to its release. Obaseki mentioned that The Exchange has a robust preventivemaintenance plan in place with processes designed to forestall and reduce the impact of such unpredictable technical glitches when they occur.

Obaseki further said that upon transition to the new NASDAQ OMX Trading Platform, there will be a significant reduction in downtime as the new technology has more resilient features.

The Exchange is already working at upgrading its Trading Platform to the cutting-edge NASDAQ X-Stream which is a high performance, robust and scalable, multi-asset, multi-market matching trading engine. The bourse signed on multinational financial services powerhouse, NASDAQ OMX for the upgrading of its current Trading Platform early in the year.

Wole Tokede

Senior Manager

Media Relations| Corporate Communications

The Nigerian Stock Exchange

Stock Exchange House | 2-4 Customs Street | Lagos| Nigeria

Tel: +234-1-4638333-5 | Mobile: +234- 803 318 1574, 809 975 8406

Email: wtokede@nigerianstockexchange.com

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