Stockbrokers’ confab to focus on tech, new products

Stockbrokers have resolved to key into the rapid changes in technology and product innovation in the global financial market and reposition for enhanced professionalism.

The Stockbrokers who are warming up for the Silver Jubilee of the Chartered Institute of Stockbrokers (CIS) have also endorsed privatization of moribund enterprises as a way of boosting their efficiency and attracting private sector participation.

Addressing journalists at a press briefing to announce the 2017 yearly stockbrokers conference, slated for November 16 and 17, 2017, held in Lagos at the weekend, the Chairman of the committee, Mrs. Lilian Olubi explained as businesses seek for alternative ways to raise capital and investors diversify their portfolios from traditional assets, it becomes imperative to encourage innovation of financial products.

“For this reason, we would be discussing: ‘Options/strategies for Deepening of our Local Market through Introduction of New Products’ such as derivatives, commodities, sukuk and alternative assets,” she said.

According to her, the conference had been packaged to help deepen the market and expand the professional knowledge of the dealing members.

“As one of the most prestigious professional bodies in the Nigerian financial industry, we have, again, sought to elevate the all-important debate of financial market development at our Conference with the aim of charting a course forward on policy alternatives.

“This is reflected in our theme for this year’s edition titled, “Adapting to Dynamic Changes in the Financial Market”. Our choice of this year’s theme was informed by the marked rapid pace of innovations in the economy and capital markets, which require operators – both dealing members and the investing public, to keep abreast of these developments in order to make informed choices.

“Introduction of new products will help deepen the market and expand professional knowledge on diverse investments products, thus encouraging more foreign investors’ participation whilst also developing our finance professionals.

Also, advancement of technology in finance profession has become imperative in improving investors’ experience and supporting efficiency drive of stockbrokers. “, Olubi said.

“Privatisation of public entities which helps to improve their efficiency, will also aid the objective of boosting private sector participation in the capital markets through primary market issuances for debt and equity securities.

Upon highlighting these various topics, she added that it is imperative to discuss the topic extensively to ensure continuous development of the Nigerian capital market

A member of the organising committee, Akeem Oyewale, explained the Nigerian Stock Exchange had been rolling out innovative products, adding that Nigeria’s economy was ripe for trading in derivatives.

According to him, Nigeria is a large market, which largely depends on mono product.

Oyewale noted that the economy needed to invest in capacity building in order to cope with the challenges of the global economy.

He advised investors to take advantage of Investment opportunities in the Capital Market in order to enhance their Returns On Investment (ROI).