Nigerian Exchange improves broker performance ranking report
Nigerian Exchange Limited has launched an enhanced broker performance ranking report designed to provide detailed insight into the performance of trading license holders across asset classes and improve participation in other exchange products.
The new ranking report was launched on Thursday during a webinar on Thursday, according to a statement on Friday.
The new broker performance report, which shows the performance of brokers ranked by the weighted calculated points in deals, volume, and value across all asset classes, comes in three different levels, distinguished by fields to be displayed.
The Divisional Head, Trading Business, NGX, Mr Jude Chiemeka, said, “Today’s traditional asset managers and stockbrokers find themselves increasingly pressured by demands to monitor and measure their activities in all asset classes (equity, debt, ETFs), as the regulator and operating environment require better tracking, monitoring, and reporting of market activities.
“At NGX, we came up with the new broker performance ranking report as one of the solutions to this challenge.”
According to him, the new ranking adopts an analytical approach in determining the total ranking of the brokers.
“It shows the performance of brokers (volume, value and deals) in different asset classes (equity, bond and ETPs) and ranks brokers by weighted average performance across all asset class, thereby providing a level playing field and fair recognition for active market participants,” Chiemeka added.
