Prominent Securities Limited, a dealing member of the Nigerian Stock Exchange, has inaugurated an online trading platform, ProTrader, and emerged as one of the privileged FIX-certified brokers.
“The Financial Information eXchange Protocol has revolutionised the trading environment, proving essential in minimising trade costs, maximising efficiencies and achieving increased transparency,” the Managing Director, Prominent Securities Limited, Mrs. Modupe Dada, said in Lagos.
According to her, ProTrader is designed to enable clients of Prominent Securities Limited buy and sell stocks on the NSE with real-time processing functionality and with access to real-time data and research.
The Prominent Securities MD explained that the ProTrader was easy to use and could be deployed on mobile devices such as cell phones, tablets and laptops as well as on desktop computers.
“Every client has uninterrupted access to his or her portfolio through ProTrader as well as the excellent support of the customer service team,” she added.
There are two options available to users of the platform. The first option, order management system enables clients to send in orders which are vetted by the back office and subsequently sent to the Exchange by the broker.
The second option, direct market access, allows clients to send orders straight through to the Exchange using the FIX Protocol.
Adequate information is also given to enhance the clients’ ability to make informed investment decisions.
The platform also allows clients to view their entire portfolio in real time and generally empowers the investor.
According to Dada, the platform combines cutting-edge technology with a robust client data protection and security framework which gives the clients a seamless experience and confidence when trading.
On why the firm introduced the platform, Dada explained that it was in line with the NSE dealing member’s commitment to encouraging every Nigerian to participate actively in the capital market.
“To this end, accessibility and transparency are key, hence the introduction of ProTrader to the market,” she said.
The inauguration of the online platform is in tune with recent trends in the capital market as operators key into the technological drive of the Exchange in a bid to boost market participation.
Dada called on stakeholders in the market to continue to work towards deepening the market and transforming it into a world-class market.
According to her, it is only by increasing the depth of the market and increasing market participation that the nation’s capital market can play the expected leading role in driving the growth of the nation’s economy.
Punch