The importance of quality market data to driving improved market performance has been reiterated at the recently concluded 5th Market Data Workshop 2020, organized by the Nigerian Stock Exchange (NSE or The Exchange) in collaboration with InfoWARE Limited. This is as the recent gains in the NSE was attributed to availability of quality market data
Recall that the NSE All-Share Index (ASI) declined by -20.65% in the first quarter of the year, Q1, 2020. However, the market has been recording an impressive growth since April, 2020, posting +31.67 as at November 12, 2020. This growth among other factors was attributed to the impact of market data.
What you should know:
- The Market Data Workshop which held virtually on Friday, 13 November 2020, was themed, “Handling Shocks in the Capital Market: A Quantitative Risk Management Approach Using Market Data.” Other sponsors of the 2020 NSE Market Data Workshop were Zenith Bank, EFG-Hermes, WCM Capital, Apel Asset Limited, Investor Hangout, Cordros Capital, CSL Stockbrokers, NG Clearing Limited, and Meristem.
- Some of the key notable speakers include; the CEO at NSE; Group Head, Risk Management at Zenith Bank; Felix Egbon, the CEO of NG clearing; Tapa Das, Head Risk, Stanbic IBTC Bank; Oladipupo Oyefuga, CEO at Chief Software Architect, Infoware Limited; Uwa Agbonile, CEO EFG-Hermes; Lilian Olubi, CEO Meristem Stockbrokers Limited; Saheed Bashir among others.
- According to Ms. Anita Gopaldas, Market Data Officer, Market Services at NSE; some of the NSE wide range of market data products and solutions across all asset classes include; the NSE API which ensures the dissemination of real-time data to stakeholders; FIX Order Management System which allows trade information to be transmitted from anywhere to The Exchange; and the recently upgraded X-DataPortal, which serves as a consolidated, streamlined platform for market participants to access quality and timely data at an affordable rate.
What they are saying
Speaking at the event, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON commented, “In Nigeria, the equities market recorded negative performance in the first quarter of the year, with the NSE All Share Index (“ASI”) posting a quarterly return of -20.65 percent in Q1’2020. However, the market saw an upswing since April 2020, and has so far gained +31.67% as at 12 November. This feat – particularly during the COVID-19 pandemic – can be attributed to smart investors bargain hunting and the release of positive year-end financial results of several listed companies, coupled with improved dividend declarations. It demonstrates the opportunities that abound in the market for discerning investors, even in a time of crisis, and underscores the importance of quality market data for investment decision-making.”
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