The Vice Chairman of the Board of NASD Plc, Mr. Chike Nwanze has said the company would collaborate with GTI Securities Limited with the aim of deepening the Nigerian capital market by facilitating trading in securities.
While NASD Plc provides the platform for over-the counter trading of unlisted securities, GTI Securities has built the first private securities trading floor in Lagos.
Nwanze, who led other directors to NASD Plc on visit to private trading floor said the NASD and GTI have complementary roles in deepening Nigerian capital market and would work together to achieve this common goal.
According to him, the GTI’s trading floor is “one of the greatest contributions that has come to our market.” He therefore, hailed the dynamism of the GTI in ushering in a new era of development for the Nigerian capital market.
He urged all stakeholders to support GTI noting that the Nigerian capital market needs milestone private initiatives like the GTI trading floor to realise its full potential as Africa’s financial hub.
Speaking in the same vein, the Managing director, NASD Plc, Mr. Bola Ajomale, said company would work closely with GTI to explore the concept of its private trading floor, which he described as a “highly imaginative, state-of-the-art, world-class, first-of-its-kind” platform.
“We are very excited about this. It has really set a standard and we want to move closer to see how we can partner with GTI. I believe that the mind that put this together is not empty yet, it still has much more to come out of it,” Ajomale said.
A director of NASD and Managing Director, Marina Securities, Mr. ‘Jibola Odedina said GTI has attained a milestone as the owner of Nigeria’s first trading floor, adding it must braced up for competition that will come from other operators.
“This is a real milestone in terms of development of our market; I’m overwhelmed. Being number one is an enviable position, you have attained that; but be rest assured that a lot of us will be chasing you, so don’t rest on your oars,” Odedina said.
In his response, the Group Managing Director, GTI Capital Group, Mr. Abubakar Lawal said the company has put together a network of financial resources and expertise to energise Nigerian companies and assist professional financiers to effectively perform their functions.
Also speaking, the Managing director, GTI Securities, Mr. Tunde Oyekunle said the trading floor is fitted with cutting-edge technology that allows seamless interconnectivity with the NSE and other exchanges as well as settlement agents and banks for real time online trading and straight through processing of transactions.
Source: Thisday (by Goddy Egene)
