The Nigerian Stock Exchange (NSE) has called on investors to create product offerings that would promote diversity in investment.
The Chief Executive Officer, NSE, Mr. Oscar N. Onyema made the call at the 4th edition of the NSE Market Data Workshop in Lagos, with theme, ‘Partnerships, Products and the Customer’.
According to Mr. Onyema, despite the evolving needs of consumers demanding for financial information globally, Nigeria still had low inclination towards investments.
He highlighted the increasing importance of leveraging market data in boosting retail investor participation in the Nigerian capital market.
“It is important for us to create product offerings that promote diversity in investment, manage risk and make the information readily available to consumers. The Exchange and data vendors are already responding to this increasing demand using new tools for market data products.
“We have evolved our product strategy to focus on catering to the needs of the end-user.
At the NSE, we believe in customer centricity and we will continue to foster partnerships with local stakeholders across the market, incorporating new technologies and expertise to drive market data by-products like derivatives and other structured products such as the Exchange Traded Funds”, he said.
Onyema added: “This year’s theme spotlights the need for a more inclusive collaboration among capital market players in analysing and extracting raw data to deliver data products that are easily consumed to make informed investment decisions.”
In her presentation, a lecturer at the Department of Mathematics, University of Lagos, Dr. Mary Akinyemi noted that protective put, such as derivatives, would be good for hedging risks, especially with the losses recorded by the stock market in recent times. She advised investors to buy enough options when purchasing shares, which would act as a protection from risks associated with losing streaks.
Speaking on the importance of the workshop in developing the Nigerian capital market, Divisional Head, Trading Business at the NSE, Mr. Jude Chiemeka explained that the Exchange instituted the Market Data Workshop to inspire market participants and the wider ecosystem to become more innovative in the use of market data as they strive to leapfrog performance through the use of the array market data solutions offered by NSE”.
In line with its new strategy of customer-centricity and leveraging on digitisation and fourth industrial revolution technologies, The Exchange showcased the beta version of X-Mobile, its mobile application. The Head of Strategy and Research at the NSE, Mr. Okon P. Onuntuei, who demonstrated the application to the audience at the workshop highlighted the importance of the application in driving investor participation. “This app is one of many ways of reaching our ambitious goal to enlighten 25 million retail investors in Nigeria and diaspora”, he said.