Contisx Securities Exchange Plc has secured its eighth patent from the Federal Republic of Nigeria ahead of its scheduled launch next month.

Announcing the development on his social media pages, Founder of Contisx Securities Exchange Plc, Ndubuisi Ekekwe, said the patents cover systems and methods designed to support the exchange’s planned operations across trading, settlement, credit, insurance and financial asset management.

He described the development as a significant milestone ahead of the exchange’s launch.

“I am pleased to announce that Contisx Securities Exchange Plc, which is scheduled to launch next month, has received its eighth patent from the Federal Republic of Nigeria,” he said.

The newly issued patent covers a system and method for tokenised liquidity note issuance, guarantee-backed credit transformation and secondary-market trading of performing financial assets.

The other seven patents cover the structuring, issuance, trading and settlement of standardised economic instruments representing real-world productive assets; hybrid off-chain and on-chain settlement of financial transactions with atomic finality; and bilateral negotiation-based electronic trading of different financial instruments with automated matching and custodial settlement.

They also include a system for computing, modelling and scoring economic instruments representing real-world productive assets, as well as distributed insurance facilitation and matching, premium orchestration and claims facilitation for cross-border investment protection.

Other areas covered by the patents include adaptive collateralised credit issuance using dynamic collateral elasticity, predictive liquidation management and automated settlement, alongside cross-depository securities collateralisation, interoperable asset encumbrance and automated collateral monitoring for cross-border credit facilitation.

With the launch expected next month, Ekekwe said the exchange would also open its careers page to recruit professionals for its operations.

He said the organisation would be looking to attract “outstanding statisticians, mathematicians, software developers, engineers, accountants, economists, and linguists” specialising in Hausa, Igbo, Yoruba and Nigerian Pidgin.

According to him, the recruitment drive is aimed at building an innovative team as the exchange begins operations.