Operation
The NSE is regulated by the Securities and Exchange Commission, which has the mandate of Surveillance over the exchange to forestall breaches of market rules and to deter and detect unfair manipulations and trading practices. The Exchange has an automated trading System. Data on listed companies' performances are published daily, weekly, monthly, quarterly and annually.
The Nigerian Stock Exchange has been operating an Automated Trading System (ATS) since April 27, 1999, with dealers trading through a network of computers connected to a server. The ATS has facility for remote trading and surveillance. Consequently, many of our dealing members trade online from their offices in Lagos and from all the thirteen branches across the country. The Exchange is in the process of establishing more branches for online real time trading. Trading on The Exchange starts at 9.30 a.m. every business day and closes at 2.30 p.m.
In order to encourage foreign investment into Nigeria, the government has abolished legislation preventing the flow of foreign capital into the country. This has allowed foreign brokers to enlist as dealers on the Nigerian Stock Exchange, and investors of any nationality are free to invest. Nigerian companies are also allowed multiple and cross border listings on foreign markets.
Read more about this topic: Nigerian Stock Exchange
Famous quotes containing the word operation:
“An absolute can only be given in an intuition, while all the rest has to do with analysis. We call intuition here the sympathy by which one is transported into the interior of an object in order to coincide with what there is unique and consequently inexpressible in it. Analysis, on the contrary, is the operation which reduces the object to elements already known.”
—Henri Bergson (1859–1941)
“It is critical vision alone which can mitigate the unimpeded operation of the automatic.”
—Marshall McLuhan (1911–1980)
“Human knowledge and human power meet in one; for where the cause is not known the effect cannot be produced. Nature to be commanded must be obeyed; and that which in contemplation is as the cause is in operation as the rule.”
—Francis Bacon (1560–1626)