NGX Reminds Newly Joined Brokers of Zero Tolerance Policy on Violations

On Thursday, December 15, 2021, a total of 91 new authorized trading employees were inducted in a ceremony held at the Nigerian Exchange (NGX) Limited premises in Lagos.

At the event, the CEO of the exchange, Mr. Temi Popoola, charged the newly incorporated brokers to uphold ethics and embrace continuous learning, reminding them that a Memorandum of Understanding (MoU) has been signed with the Crimes Commission Economic and Financial (EFCC). ) for the enforcement of the exchange’s zero-tolerance policy regarding infringements.

He stressed that in order not to be found wanting, they must maintain a high standard of ethics in the capital market, advising them to be upholders of integrity and impeccable character, with an inclination to put the market first in their decision-making.

He also stressed the need for them to embrace a culture of continuous learning to keep up with the fast pace of developments and innovation in the financial space.

“Technology will increasingly drive our operations and business activities in the future.

“Over the years, the exchange has demonstrated its readiness for digital transformation, as evidenced by our smooth transition to virtual trading following the onslaught of the COVID-19 pandemic.

“Our real-time data service and trading platform continue to be a game changer in the capital market. Through these platforms, we have improved the flow of market orders, sustained the increase in the number of transactions, provided high availability and enabled direct market access and remote trading”, he stated.

Mr. Popoola urged members to take advantage of NGX’s specialized learning platform, X-Academy, to gain more knowledge and maximize opportunities to stay abreast of market developments.

For his part, the dean of the market, Mr. Rasheed Yusuf, congratulated the new brokers, stating that their induction occurred at a time of great volatility and uncertainty in global markets and the world economy.

“I will urge all of you to be innovative, creative and ethical, as the market needs your skills to increase its contribution to the economy.

“Exchange and capital markets provide a platform to turn the tide of the Nigerian economy, and I encourage you to take advantage of all available channels to make an impact,” he said.

Also speaking, the Chairman of the Governing Council of the Association of Securities Trading Houses of Nigeria (ASHON), Mr. Sam Onukwue, and the Chairman and Chairman of the Governing Council of the Chartered Institute of Stockbrokers (CIS), Mr. Oluwole Adeosun further stressed the importance of adhering to market rules and regulations for new brokers and striving to make contributions to market development.

Leave a Comment