By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian stock exchange (NSE) Thursday announced it plans to implement a state-of-the-art real-time Market Surveillance tool in 2014.

Following this, the NSE says it’s seeking Expressions of Interest (“EOI”) from duly registered and licensed companies for the provision of a state-of-the-art real-time Market Surveillance tool. 

According to the Nigeria’s Exchange, it will undertake a competitive bidding exercise shortly and accordingly to issue a Request for Proposal (“RFP”) to those companies that express their interest and provide initial relevant information demonstrating their ability to fulfill the NSE’s requirement.

‘’The companies that express their interest will be required to execute a Non-Disclosure Agreement before they are issued the RPF. A detailed scope of the requirements will be contained in the RFP.  The EOI should provide information about the company’s profile and contact details,’’ the NSE said.

The NSE said that the request for EOI is not an invitation for submission of a proposal and it reserves the right to reject EOIs received after the deadline. 

‘’Interested companies should submit three (3) hard copies of their EOI as well as one electronic copy to The Exchange. Hard copies should be marked “Original”, “Copy 1” and “Copy 2” and all pages must be initialed.  Companies may send a copy of their EOI by electronic mail where they are unable to provide hard copies to meet the deadline.  However, in this event, they must provide the hard copies within three (3) days of the submission deadline. Failure to do this may disqualify the company’s EOI from being considered,’’ the NSE said. 

The Nigeria’s Exchange affirmed that the EOI should be clearly marked “Market Surveillance Request for Expression of Interest”, and must be received by The Exchange at the address below by 16:00 GMT, 19 February 2014.  ‘’No EOI will be accepted after this time unless The Exchange determines, in its sole judgment, to do so,’’ it said.