FORMER US REGULATOR ADVISES ON DERIVATIVES AS NSE, CORONATION COLLABORATE - Welcome to Soul 2 Soul Mates Blog

Breaking

For Entertainment, News, Jokes, Fashion, Lifestyles, Gospels, Quotes, etc

Post Top Ad

1/22/2018

FORMER US REGULATOR ADVISES ON DERIVATIVES AS NSE, CORONATION COLLABORATE

FORMER US REGULATOR ADVISES ON DERIVATIVES AS NSE, CORONATION COLLABORATE
As the Nigerian Stock Exchange (NSE) prepares to launch derivatives in the nation’s capital market, a former Chairman,
United States Commodities Futures Trading Commission (US CFTC), Dr. James Stone, has emphasised the need to adopt a gradual strategy.
Stone stated this at a forum organised by the NSE and sponsored by Coronation Merchant Bank Group in Lagos last Thursday.  Speaking on the topic: ‘Pluses and Pitfalls of Derivatives Trading,’ Stone stressed that it is better to begin derivatives trading with the simple form of derivatives and improve on them.
According to him, since there are already exchange traded funds (ETFs) in Nigerian market, it is better to begin with exchange traded derivatives.
The Chief Executive Officer of NSE, Mr. Oscar Onyema noted that the stock exchange will this year launch exchange traded derivatives in the market.

He disclosed that the experience shared by Stone will assist regulators and operators in the introduction and trading of derivatives in the market.
According to him, having Stone share his experience   was an amazing opportunity because of the quality of engagement and insight gained from the interaction.

“The exchange is committed to building capacity and enhancing the expertise of operators and other associated parties towards collective efficiency.  The lecture on ‘Pluses and Pitfalls of Derivatives provided enriching perspectives and strengthen the capacity of capital market operators, who create value for investors through their operations on the floor of the NSE,” Onyema said.
 The NSE boss,  who commended Coronation Merchant Bank for  sponsoring the forum, explained that  this partnership bodes well with  their  quest to introduce exchange traded derivatives into the Nigerian capital market.
“Last year, we leveraged our X-Academy platform to conduct two tranches of training on the legal and risk aspects of derivatives and central counterparty clearing,” he said.
In his speech, the Managing Director,  of Coronation Merchant Bank, Mr. Abubakar Jimoh said:  “We are excited about our collaboration with the NSE on this noteworthy initiative, which will have positive effects on capital market operations in Nigeria.”
According to him,  as a wholesale financial institution focused on transforming the face of merchant banking in Africa, Coronation Merchant Bank is not only open to innovative collaborations that will bring development to the African financial landscape, but will serve as a catalyst for revitalizing capital market operations across the continent.


READ MORE ON:

No comments:

Post a Comment

Post Top Ad