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The total global spending by stakeholders on financial market data, analysis and news, has gulped not less than $28.5 billion so far. The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Oscar Onyema made this known at the fourth edition of the NSE Market Data Workshop recently held in Lagos. 

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Onyema explained that there had been a global increase in the general consumption and spending on financial market data and market data analytics, stretching beyond the market data typically provided by stock exchanges for equity trading. 

“Market commentators have estimated the value of total spending on all financial market data, analysis and news at about USD28.5 billion while the potential market size of financial information is valued at USD 50 billion, according to McKinsey estimates. 

 “Despite the evolving needs of consumers demanding for financial information globally, Nigeria still has low inclination towards investments, according to a research by FSDH, which reported the savings ratio in Nigeria as one of the lowest among selected countries including China, India, Kenya, Malaysia, South Africa, United Kingdom, and USA. The ratio of mutual fund assets to Nigeria’s Gross Domestic Products (GDP) is also very low at less than 1%, despite the growth of mutual funds in the country in recent times.” 

Why this matters: Trading and business decisions at large often have a financial impact. The decisions, however, carry direct effect on the bottom line resulting in either losses or gains in the capital market. All the data an investor can be able to harness can be helpful in making intelligent and timely investment decisions. 

[READ ALSO: NSE promotes investment diversification, as it holds 4th Market Data Workshop]

What you should know: The emergence of big data and advanced business intelligence came as a result of the increasing demands from capital market operators. It is pertinent to note that financial trading markets have always relied heavily on data analysis. 

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Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.


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