The Nigerian Stock Exchange (NSE) has intensified efforts to achieve a strong derivatives market with the training of capital market operators.
NSE Chief Executive Officer, Mr Oscar Onyema, said in a statement in Lagos on Wednesday that the training was organised to equip the operators ahead of the launch of derivatives trading.
Onyema said that derivatives had contributed to the impressive growth in the global financial market over the past 20 years.
“Today, the global derivatives market is the main pillar of the international financial system and the economy as a whole,” he said.
Onyema said that NSE had built the regulatory and technology framework and competence required to support the launch of a standardised exchange traded derivatives market.
He added that the NSE would build a derivatives market that meets global standards.
“We have worked with regulators such as the Securities and Exchange Commission and the Central Bank of Nigeria to establish the right regulatory and legal framework for derivatives in our market.
“We will also continue to build on the trading infrastructure that will ensure domestic and foreign stakeholders are able to trade seamlessly once we launch within subsequent months.”
Onyema also quoted Mr Charles Rubin, derivatives consultant, as saying that derivatives had increased trading activity significantly across markets. (NAN)