The Nigerian Stock Exchange in partnership with J.STREICHER Advisory LLC, one of the top NYSE Designated Market Maker and oldest in the world organized training for NSE Market Makers and at The Stock Exchange Building in Lagos in the third week in January.

The three-day training which was informed by the realization that the operations of any organization are better run where proper structures and processes are put in place, was aimed at enhancing the knowledge of the trading industry, orders and order properties, market structures, order driven markets, informed traders and market efficiency, order anticipators, bluffers and market manipulation, market making tools, risk management, best practices, technology amongst others.

The Head, Product Management of The Nigerian Stock Exchange, Mr. Dipo Omotoso  said that the training is to give NSE Market Makers an enhanced and broadened knowledge of market making with a glimpse of how it is done in other jurisdictions.

“Global best practice has made it imperative for Capital Market Operators to be adequately informed and educated about the importance of market making to enable them institute high ethical values for the benefit of investors, their stakeholders and the communities in which they operate” explained Omotoso.

It was revealed by the CEO of J.Streicher& Co., Mr. Thomas Brown that Market Makers in general add liquidity to the market depth and continuity of the bourse will improve with this training and will benefit listed companies and investors.

Feedback from the participants was quite encouraging as some of those interviewed expressed their pleasure at the Nigerian bourse’s training initiative. “I think this training is a very good one, the skills they’re teaching us today and in the next few days is to ensure that brokers here can understand the importance of Market Making and how they can go about it” noted Chief Executive Officer, Partnership Investment Plc, Mr. Victor Ogiemwonyi.

Head, Risk & Compliance of Vetiva Capital Management Limited, Mr.Biodun Adeniran also gave his approval for the training by stating thathe saw thetraining as an opportunity for our people to sharpen their skills, especially the capital market operators and those that are involved in market making operations. “This clearly helps in broadening the scope in terms of the market knowledge that happens in other parts of the world where the players are on top of the game.” Adeniran added.

It can be recalled that The NSE introduced Market Making in April 2012 as one of the initiatives designed to facilitate market recovery. Since the introduction of market-making program, there has been a general restoration of investor’s confidence in the Nigerian Capital Market. The Market has witnessed increase liquidity in market making stocks and also given rise to increased market participation rates by local investors.

About J. STREICHER Advisory LLC

J. STREICHER Advisory LLC (JSA),is one of the top NYSE Designated Market Makers with a rich history and strong tradition of providing unparalleled service for our family of listed companies. With a track record of more than a century, J. STREICHER Advisory LLC has specialized in an array of listed securities through the best and worst market conditions. Those include household names with market caps ranging from $10 million to $100 billion. Their employees are talented and seasoned professionals who have a comprehensive understanding of domestic and global markets. The firm has partnered with the New York Stock Exchange on their iconic trading floor to build a platform for long-term relationships that can stand the test of time

January 24, 2014

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The Nigerian Stock Exchange has signed agreement with J. STREICHER Advisory LLC (JSA), one of the top NYSE Designated Market Makers to train NSE Market Makers. The training which is compulsory for all NSE Market Makers is scheduled to run 20th and 22nd of January, 2014.

The training is expected to cover the Trading Industry, Orders and Order Properties, Market Structures, Order Driven Markets, Informed Traders and Market Efficiency, Order Anticipators, Bluffers and Market Manipulation, Market Making Tools, Risk Management, Best Practices, Technology amongst others.

Source: NSE

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-INVESTMENT ONE Financial Services Limited (formerly GTB Asset Management Limited) is set to  hold its  second  Technical session for Institutional Investors and Market Makers.

Norbert Olisakwe of Communications Department of the Company in a press brief made available to www.investadvocateng.com, said Speakers at the session include Ms. Yvonne Emordi, Head of Research at the Nigerian Stock Exchange, Dr. Doyin Salami – Pan Atlantic University and Mr. Funsho Doherty former Managing Director (MD) of ARM Pensions Limited.

According to INVESTMENT ONE, the interactive session is designed to provide a platform for interaction between Institutional Investors and market makers in order to engender understanding and enlightenment with a view to ensuring continuous growth of the market.

The session will hold at on 26th June, 2013 by 10.00am prompt at the Protea Hotel, Awolowo Road Ikoyi, Lagos.

INVESTMENT ONE is one of the 13 Supplemental Market Makers (SMMs) appointed in April 2013 by the Nigerian Stock Exchange (NSE).

The NSE had said those seeking approval to be SMM must be licensed Broker-Dealers on at the Nigerian Bourse, be registered with Securities Exchange Commission (SEC) and Central Securities Clearing System (CSCS) as a Broker-Dealer, “the must also meet the minimum Capital requirement set for SMMs on a continuous basis and have the experience, expertise and past performance in the Market.” he said.

Others are operational capability in terms of appropriate staffing, technology and risk management tools, disciplinary history and Applicants must be in good standing with SEC, NSE and CSCS.

The NSE further affirmed that the SMMs have the opportunity to become a Primary Market Makers after six (6) months if they perform well.

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