The National Association of Securities Dealers (NASD) is partnering with Central Securities Clearing System (CSCS) to put an end-to-end integration on trades on the NASD platform, making it easy for an investor to have a single view and secured access to investments in the capital market.
This was highlighted by Onome Komolafe, a representative of Central Securities Clearing System (CSCS) in a virtual market review session on Thursday, February 18, highlighting the NASD‘S market performance for 2020 and discussed the outlook for 2021.
Bola Ajomale, managing director of NASD Plc, at the event, informed that NASD market capitalisation for the year 2020 opened at N501.14 billion and closed at N525.94 billion. NASD’S securities index opened at 697.54, rising by 6.29 percent to close the year at 733.00 points.
The trade activity also showed on the equities side, NASD had a year-on-year value increase of 21.08 percent and trade volume increase of 195.23 percent.
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Ajomale also spoke of some achievements of NASD in the previous year. NASD, he said, collaborated with the Lagos Chamber of Commerce and Industry (LCCI) to commemorate international women’s day in a seminar themed “equal access to capital”.
NASD joined forces with the Capital Market Corporate Social Responsibility (CSR) initiative to administer COVID-19 relief during the lockdown. According to him, NASD launched a new platform for trade which made trade executions for market participants much more efficient.
The MD spoke on NASD’S plans for 2021, saying the association plans to focus more on the Crowdfunding initiative which has proven to be a needed intervention for entrepreneurs in the country.
Two new products will also be launched, commercial papers and a digital currency trading portal. However, he highlighted that it was in no way going to be affected by the crypto ban which the CBN had ruled on weeks ago.
The portal will open in the third quarter of 2021. New market rules for commercial papers are expected to open in Q2, currently, market guidelines for Dealer Category rules have been published for proprietary traders.