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The Nigerian Exchange Limited (NGX) has inducted 103 newly qualified Authorised Dealing Clerks, charging them to comply strictly with market rules and maintain professional and ethical standards in their activities.
The dealing clerks completed the Exchange’s 15-day Automated Trading System (ATS) Brokers’ Certification Programme, which covers market structure, trading procedures, compliance requirements and the operational framework of the Exchange.
Chief Executive Officer of NGX, Jude Chiemeka, said the new dealing clerks had met the academic and professional requirements and obtained the necessary regulatory approvals to practise. “Today, we celebrate the outstanding achievements of the candidates who have successfully completed the Nigerian Exchange’s Automated Trading System Brokers’ Certification Programme,” Chiemeka said.
He said the programme was designed to strengthen the competence, capacity and character of aspiring market professionals, while urging the inductees to uphold integrity, professionalism and ethical conduct.
Chiemeka also reiterated NGX’s zero-tolerance stance on market infractions, stressing that the dealing clerks must adhere to the ethical standards of the Chartered Institute of Stockbrokers and the NGX Rulebook.
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Rasheed Yusuf, Doyen of the Market, said stockbrokers have responsibilities beyond executing trades, including facilitating capital raising, deepening market liquidity, providing investment guidance and expanding participation among retail and diaspora investors. “The Exchange and the capital market constitute a platform to turn around the fortunes of the Nigerian economy, and I encourage you to leverage every channel available to create impact,” Yusuf said.
He urged the new dealing clerks to remain proactive, deepen their knowledge and keep abreast of developments in the capital market.
Chairman of the Governing Council of the Association of Securities Dealing Houses of Nigeria (ASHON), Sehinde Adenagbe, and President and Chairman of the Governing Council of the Chartered Institute of Stockbrokers (CIS), Fiona Ahimie, also urged the inductees to comply with market rules and professional standards. They said market practitioners have a responsibility to strengthen investor confidence and contribute to the development of Nigeria’s capital market.
