The Nigerian equities market closed higher for the third consecutive week, as bargain-hunting in ARADEL (+20.7%) following ministerial consent for the acquisition of Shell Petroleum Development Company (SPDC) by Renaissance Africa Energy Limited, as well as strong performances by GTCO (+7.7%), and TRANSCOHOT (+9.4%) caused the All-Share Index (ASI) to […]
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NGXASI Dips -0.12% on Losses in Bellwether Counters
December 20, 2024/InvestmentOne Report The NGXASI declined by 0.12% today to close at 101,129.09pts, as sell-off witnessed in NB (-3.33%), WAPCO (+2.84%) and TRANSCORP (+0.58%) pushed the local bourse into the negative zone. In the fixed income space, the Treasury Bills secondary market closed on a bearish note today, largely due to the […]
Statement on Daily Computation of Customer and Broker-Dealer Reserve Requirements under an Amended Broker-Dealer Customer Protection Rule
December 20, 2024/US SEC Under the Broker-Dealer Customer Protection Rule, carrying broker-dealers—i.e., those broker-dealers that maintain custody of customer securities and cash—must have a special reserve bank account that holds “qualified securities” and/or cash in an amount determined by a weekly computation.[1] The idea is that if the broker-dealer fails, […]
