‘Meristem’s new platform will enhance operational speed’

The Nigerian Stock Exchange (NSE) has commended the Meritrade platform, Meristem’s new platform, saying that it would enhance operational speed and accessibility.
Chief executive officer of the NSE, Oscar Onyema, made this remark in Lagos at the launch of the platform.

He said that the launching of “the MERITRADE platform has  demonstrated as one that provides speed, accessibility and robustness of technology systems…all critical success factors of modern trading where key industry trends embrace mobile/e-trading and new technology-enabled trading models amongst other realities.

We have been working towards increasing the retail investor base with intent of reaching out, even to the rural areas.
“Anticipatorily, meristem’s Meritrade should contribute substantially to the realization of this intent. Meristem securities have demonstrated they have what it takes to continue moving forward and we wish them all the best as they continue their progressive ride in the capital market.”

Speaking further, he said “on April 20, 2011 during the Nigerian-South Africa Chamber of Commerce monthly breakfast forum, we shared that our vision at the NSE was “to be the leading stock exchange in the African region for capital formation, driven by transparency, innovation, efficiency and liquidity.”

“We confirmed that we shall adopt global best practices that will increase efficiency, improve transparency and drive operational excellence. We also made it clear that our strategy for developing and protecting the Nigerian Capital Market would be driven by collaboration with market participants.” He said that his presence at the official launching to further demonstrate that we are focused on the strategic declaration made in 2011 and we have been guided by same till date.

Onyema assured that The Exchange would continue to supports innovations such as MERITRADE, adding that in the NSE’s transformation strategy, a 21st century technology strategies was a key part of the ‘five pillars’ for growth.
The growth strategy, he said, was designed along with targeted business development, strong regulation, appropriate investor protection strategies and growth enabling market structure.

Onyema said that while the NSE’s focus from 2011 to 2013 has been on restructuring, improving technology, product development and advocacy for changes to policy, in 2014 it determined to shift gears to drive innovations centered on increasing global visibility into the Nigerian capital market, developing a larger footprint on the continent and ultimately, targeting emerging market status.