The CEO of the Nigerian Stock Exchange Mr. Oscar Onyema, has called on both domestic and foreign portfolio investors on the need to exploit market data for their benefits.
The NSE boss whilst speaking at the first market data workshop organised in Lagos on Tuesday said “Our market data informs traders, investors, media and others in our market on the quotations, latest price, and historical trends for the equities, fixed-income, and ETF products that are traded on our platform.”
He explained that the information made available by the Exchange is not only used in real time to make instantaneous buy and sell decisions, but the historical market data is used to make price projections, as well as calculate market risk on investment portfolios.
“For Exchanges, delivery of market data to users is resource heavy and requires specialized technologies designed to handle the collection, processing and dissemination of massive data streams.”
He further encouraged investors not to be perturbed by the current economic crisis of the nation, adding that there were ample opportunities to be explored.
“In spite of the challenging economic conditions we are experiencing in Nigeria, the capital market still remains one of the main vehicles for economic development and wealth creation. The NSE Premium Board has returned 11.3% YTD 17th October 2016. The level of private sector time deposits have declined by 14.4% to N3.8tn over the last one year (Sep ’15 to Aug ’16), while private sector savings deposits have increased by 19.0% to N3.5tn. The average interest rate on these savings and time deposits are 3.6% and 5.9% respectively. With an average inflation rate of 12.7% over the last year, the NSE Market Data Workshop, themed, “Understanding Market Data for Savvy Investing and Wealth Creation” could not be more apt.
Domestic investors, and indeed foreign portfolio investors, require an elevated level of insight in order to discern between great investments and lame investments, especially during a challenging down cycle. That is why this workshop is designed specifically to provide capital market participants with sufficient knowledge about exploiting NSE market data for smart investment decisions.” he said