London stockbrokers eye investment opportunities in NCM

CIS urges members to brace up for offshore trading

Stockbrokers on the London Stock Exchange (LSE) may be warming up to take advantage of Investment opportunities in the Nigerian Capital Market (NCM) to leverage its fast growing profile.

Also, the much-awaited capacity building being anchored by the Chartered Institute of Stockbrokers (CIS) and Chartered Institute for Securities and Investment (CISI), United Kingdom to launch Nigerian stockbrokers into the global space has commenced.

Commenting on the activities of the Nigerian capital market at the commencement of the special training by CIS and CISI on commodity derivatives at the weekend, a global securities and Fellow of CISI, Alan Burr, said the Nigerian capital market, especially the Nigerian Stock Exchange had become the focus of the international financial expert. He added that the Exchange is one of the fastest growing markets globally.

“Nigeria is a great interest because it is such a large and expanding economy. In that respect, its stock exchange reflects that and the good thing is that it is one of the fastest growing stock exchanges and London investment community will be looking at it very closely, “ Burr said.

According to him, CISI has a wide network Internationally, hence, members of the CIS would benefit immensely from this network after the ongoing training. He commended Nigerian capital market professionals for their strong background.

Corroborating Burr, the President, CIS, Oluwaseyi Abe, justifying for the training, noting that participants will have a first introduction to financial services regulation focused on financial crime, insider trading and market abuse, as well as an understanding of ethical behaviour and integrity.

“They will learn practical trading strategies and techniques in various commodity markets, understand core price drivers, characteristics of risks, rationale for investment and the use of commodity derivatives.

“They will have a broad understanding of the economic environment where the financial services industry operates, and how economic activities are determined and managed in different economic and political systems,” Abe said.

Speaking on the need for Nigerian Stockbrokers to trade on international markets, CIS’s 2nd Vice President, Tunde Amolegbe, noted that some Nigerian banks were already listed offshore, which implies that at individual levels, stockbrokers in Nigeria must brace up for offshore trading.

“Guaranty Trust Bank is listed on the London Exchange and we have Zenith bank. So, it is important that our traders and securities dealers have an international outlook.

“As a matter of fact, not only in London, we have various partnerships, even across South Africa. Nigeria is a member of the Association of African Stock Exchanges (AASE), so we are saying that the knowledge they are gaining from this training, will not only enable them to trade on the London Stock Exchange but on other Africa stock exchanges that adhere to international standards.

“Their knowledge level will be such that ability to trade on those platforms or exchanges would not be difficult after this type of training. “ He stated.