By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-TheAnalyst subscribers would pay a yearly fee of $100 or N15, 000.00 Proshare Nigeria said on Tuesday.
The firm in a statement said TheAnalyst is Nigeria’s first independent financial and market news, data, analysis and intelligence portal dedicated to the Nigerian capital market would debut on Saturday, May 31, 2014 becoming the first-ever paid subscription capital market data platform in Nigeria.
According to Proshare Nigeria, TheAnalyst recognises that passing on to subscribers the entire cost of operating its service would not be consistent with its education, enlightenment and empowerment remit, ‘’so we have worked out a means through which you can pay a sum of $100 or N15,000 per annum to access the site,’’ it said.
The leading market news and research company in the Nigerian financial market said TheAnalyst is the result of Proshare’s (www.proshareng.com) over ten (10) years engagement in the Nigerian capital market and will be managed by Reshu Bagga, as the chief executive officer – managing two operational bases in Lagos, Nigeria and New Delhi, India.
‘’Having complied with the Nigerian stock exchange (NSE) data usage requirement and operating requirements, the service built around best practice compliance and engagement principles will offer investors in the Nigerian capital market a seamless transition between information and trade execution (with carefully selected online trading platform providers),’’ the statement said.
Proshare affirmed that the inevitability to transit to a full subscription based site was informed by the on-going transition in the Nigerian market space that recognises the NSE’s proprietary rights over its data and its usage – one that requires a different model and thinking for a new market that is now upon us.
‘’In effect, usage, download and extraction of NSE data must be based on an equitable dissemination model that matches world class exchanges and one in which Proshare fully subscribes to,’’ the company said.
The leading market news provider said in championing this approach in the local market, Proshare and indeed TheAnalyst simply expands on its decade old tradition of ensuring that information disseminated on its platforms are credible, reliable and timely. ‘’The latter part being that live data will be available to retail users at far less the price they would otherwise have obtained same,’’ it said.
According to Proshare, the payment system deployed is provided by Zenith International Bank Plc who has a means tested platform that users would find user friendly.
TheAnalyst Investment WebStation is expected to provide market news & reports, market data (global and domestic) including live feeds from the Nigerian bourse, fundamental and technical analysis of various stocks, investor relation services, share support services, stock recommendations, a stock broker comparison tool and more.
