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CIS wants partnership with brokers for professional development

By Helen Oji
18 July 2016   |   1:45 am
The Chartered Institute of Stockbrokers (CIS) has urged stockbrokers to work very closely with the institute for enhanced professional development, stating ...

stock-exchange

Says new trends in market requires additional skills

The Chartered Institute of Stockbrokers (CIS) has urged stockbrokers to work very closely with the institute for enhanced professional development, stating that the new trend in the financial market required additional skills on the part of brokers.

The President of CIS, Oluwaseyi Abe, who also unfolded the four-point agenda of the Institute, assured the Nigerian Stock Exchange (NSE) of continued collaboration of the Institute in order to build a strong and virile capital market in Nigeria.

Addressing the Stockbrokers on the floor of the NSE, in Lagos during a courtesy visit of the new administration of the CIS, at the weekend, Abe announced that the Institute had designed a four-point agenda to accelerate capital market development, as well as expand the nature of capital market operations.

He listed that agenda to include; Rebranding, Education, Collaboration and Partnership (RECP), stressing the need for stockbrokers to stay ahead of trends to make become more competitive and take their rightful position in the financial market.

He pointed out that the market seemed gloomy, but however assured stockbrokers that there is ‘light at the end of the tunnel’.

According to him, other exchanges such as National Association of Securities Dealers (NASD), FMDQ Plc and Abuja Commodities Exchange had created alternative platforms for Stockbrokers to practice.

Abe explained that the new trend in the financial market required additional skills on the part of Stockbrokers, adding that the Institute’s Continued Professional Development (CPD) had been expanded to bridge the skill gaps and position the Stockbrokers to key into emerging opportunities.

Speaking on investors’ education, he explained that it had become more compelling as new products are being introduced into the market.
Abe added that there was need for investors to have more understanding of the benefits and risks of investment in the capital market.

The Institute, according to him had placed premium on the need to intensify efforts aimed at creating more awareness of the relevance of the market to all categories of existing and potential investors.
Abe who beat the closing gong yesterday commended the management of NSE on its efforts aimed at developing the market.  He assured the Exchange of the Institute’s continued collaboration to globalise the market.

He noted that the capital market regulators and operators had always worked on the same goal of market development.  According to him, collaborative efforts have become more compelling in view of the challenges of globalisation.

He explained that the CIS would continue to partner with individuals and institutions that share common values on the growth and development of the capital market.

Abe assured the Stockbrokers that the current economic challenges would soon be over, urging them to partner with the Institute for enhanced professional development.

The Exchange’s Executive Director, Market Operations Information Technology Ade Bajomo described the Institute as a major stakeholder in the capital market, while assuring the new officers of NSE’s continued support in all market activities.

He reiterated the need to sharpen the operators’ skills in order to enhance their roles of financial intermediation.

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