From Cyriacus Nnaji, Lagos
Nigerian Stock Exchange (NSE) has announced the launching of its e-Filing Portal, X-Filing, on Tuesday, 2 March 2021.
According to a press statement by the money market giant, X-Filing, which comes on the back of the recent upgrade to the NSE Issuers’ Portal, X-Issuer, is a fully integrated, secure web interface designed to enable the submission and processing of securities listing applications online.
The Portal provides Dealing Member Firms (DMFs) and other accredited sponsors with a simple, efficient and convenient way to submit securities listing applications on behalf of issuers as well as enable The Exchange to process the applications online, saving time and resources.
Accessible via, https://efiling.nse.com.ng, the Portal is equipped with features that allow the submission, review and approval of securities listing applications; generation of listing and application reports; and easy tracking of application status. Users of the Portal will also be able to check estimated listing and application fees and make payment online.
Speaking on the development, the Executive Director, Regulation, NSE, Ms. Tinuade Awe noted thus, “The launch of X-Filing accords with The Exchange’s commitment to leverage technology to drive regulatory objectives and ease compliance for stakeholders.
Automating the securities listing process of the NSE is, therefore, a major milestone for us in our quest to ease the burden of listing for applicants and to attract new listings.
As an agile Exchange, we continue to review our processes to ensure quick time to market as required by all our stakeholders. We have adopted an integrated approach to ensure a seamless end-to-end process that will allow Issuers to manage their securities listings and other applications from anywhere they choose at any time.”
X-Filing is expected to facilitate a timely review process from The Exchange, ultimately improving the quality of its service delivery. “The Portal has been designed to enhance our securities listing application processes, thereby improving Issuers’ experience. We are, therefore, confident that the features we have incorporated will enhance the competitiveness of the Nigerian capital market as a global listing destination,” Ms. Awe further stated.
The statement stated that the Exchange remains committed to delivering products and services that meet the needs of its stakeholders, especially as we transition to a world of increased digital interactions. X-Filing is one of The Exchange’s dedicated efforts to remain globally competitive while enhancing its service delivery to stakeholders.