Lead Securities and Investment Limited, a subsidiary of Lead Capital Plc, says it is developing a new portal aimed at bringing back more retail investors that exited the market as a result of the past financial crisis.
According to the firm, the platform, LeadTrader portal, will be designed to conform to global best solutions for online, real-time trading of securities using desktops, laptops, tablets and other mobile devices.
The Group Managing Director, Lead Capital Plc, Mr. Wale Adewumi, told journalists in Lagos that the platform would also offer both retail and institutional investors a secure and efficient electronic platform for equity trading on the Nigerian Stock Exchange.
He explained that the ‘straight-through process’ adopted by the firm would enable the entire processes of trading and payment to be executed electronically in line with the Nigerian Stock Exchange’s directive.
He said, “We want to bring in more investors to become active participants (in the capital market). Nigeria has the biggest economy in Africa and we hope that in the next few years, our GDP will grow in terms of size because we would develop the retail market in such a way that investors can trade and control their investment in the capital market. This will enhance transparency and attract more market participants, which would boost the economy.”
According to him, the decision of Lead Securities to build a world-class trading portal, which offers investors a secure channel to buy and sell shares of quoted companies, is in response to reform initiatives by the NSE.
Adewunmi said, “Orders submitted through LeadTrader pass through a FIX compatibles Order Management System where appropriate compliance checks are in place to prevent erroneous orders going into the NSE’s trading platform.
“It is integrated with the payment switch that allows investors to add funds to their brokerage account, using credit or debit cards. In addition, LeadTrader provides a real-time market data for informed, real-time, trading decisions.”
Source: Punch (by Simon Ejembi)
