NGX charges newly inducted brokers on ethics


NGX_Exchange_IdentityNigerian Exchange Limited has urged the newly inducted brokers to uphold the high standard of ethics in the capital market and embrace a culture of continuous learning to keep up with the fast pace of developments and innovation in the financial space.

At the induction ceremony for the 91 newly Authorised Dealing Clerks held recently at the Exchange in Lagos, the Chief Executive Officer of NGX, Mr Temi Popoola, advised the newly inducted brokers to be advocates of integrity and impeccable character, with the penchant to place the market first in their decision making.

He stated that NGX has enforceable rules, explaining that the exchange had signed a Memorandum of Understanding with the Economic and Financial Crimes Commission in the bid to implement its zero-tolerance policy on infractions.

Popoola said, “Technology is increasingly going to drive our business operations and activities going forward.

Over the years, The Exchange has demonstrated its readiness for digital transformation as evinced by our seamless transition to virtual trading following the incursion of the COVID-19 pandemic.

“Our trading platform and real-time data service remain a game changer in the capital market. Through these platforms, we have improved market order flow, sustained an increase in the number of trades, provided high availability and enabled direct market access and remote trading.”

He urged the inductees to embrace a culture of continuous learning and take advantage of NGX’s specialised learning platform, X-Academy to gain more knowledge and maximise opportunities to stay up to date on market developments.

Speaking, the Doyen of the market, Rasheed Yusuf, said, “I will urge you all to be innovative, creative, and ethical as the market needs your skills to increase its contribution to the economy.

“The exchange and the capital market constitute a platform to turn around the fortunes of the Nigerian economy and I encourage you to leverage every channel available to create impact.”

The Chairman of the Governing Council of the Association of Securities Dealing Houses of Nigeria, Mr Sam Onukwue, and the President and Chairman of the Governing Council of the Chartered Institute of Stockbrokers, Mr Oluwole Adeosun, underscored the importance of keeping to the rules and regulations of the market to the new brokers.

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