Platform Launches Trade Alert

NASD OTC Securities Exchange Plc, the over-the-counter platform for trading in unlisted securities, has launched a trade alert notification service that will enable investors to receive transaction alerts on deals consummated on the Exchange. The service will begin on Friday, June 1.

Investors with portfolios trading under the NASD would receive daily short message service (SMS) notifications at the close of trade. Trade alerts will be sent to an investor’s registered mobile number with the Central Securities Clearing System (CSCS) Plc.

Each trade alert will contain investor name, investor account number, trade date, stockbroking house firm code, security traded, units traded, price traded and general market closing price of the security.

NASD had on April 9, 2018 launched its proprietary trading platform (BITs) to provide authorised traders platform to perform trades more conveniently on behalf of their brokerage clients.

The management of the NASD stated that the trade alert notification service was part of efforts to further enhance service delivery and client satisfaction, noting that it will continue to conduct regular modifications to improve its system, promote transparency and market integrity.

“We believe that with this service, investors will get adequate first-hand information from the Exchange on all transactions on their account, which can be confirmed by their chosen participating institution,” NASD stated.

Inaugurated in July 2013, NASD OTC Securities Exchange is registered by the Securities & Exchange Commission (SEC) as a Self-Regulatory Organisation (SRO). The NASD OTC provides the platform for trading of a broad range of instruments over-the-counter, including equities, bonds and securities not listed on the Nigerian Stock Exchange (NSE).

Many leading companies are listed on the NASD OTC including world leaders like Dufil Prima Foods Plc, the manufacturer of Indomie Noodles; Friesland Campina Wamco Nigeria Plc, manufacturer of Peak Milk brand; and Fan Milk Plc, popular manufacturer of Fan Yoghurts are listed.

Other companies listed on the NASD OTC included NIPCO Plc, Air Liquide Nigeria Plc Industrial & General Insurance Plc, Central Securities Clearing System Plc, the clearing and depository arm of the Nigerian Stock Exchange; Nigeria Mortgage Refinance Company, Jaiz Bank Plc, the Islamic bank; Acorn Petroleum Plc, Arm Life Plc, Afriland Properties Plc, BGL Plc, Consolidated Breweries Plc and Food Concepts Plc.

Others included Geo-Fluids Plc, Golden Capital Plc, Niger Delta Exploration & Production Plc, Partnership Investment Company Plc, Resourcery Plc, Riggs Ventures West Africa Plc, Swap Technologies & Telecomms Plc, Vital Products Plc, Fumman Agric Products Industries Plc, Free Range Farm Plc, FAMAD Plc, AG Mortgage Bank, Trustbond Mortgage Bank Plc and Mass Telecom Innovation (MTI among others. There are also more than 137 registered traders of participating institutions at the market.

Source: Thenation

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