I am pleased to welcome you to the 2nd edition of The Nigerian Stock Exchange (NSE) Market Data workshop“Market Data: The Bedrock Of Wealth Creation“. Leveraging on the strides achieved in the maiden edition held in 2016, this year’s NSE Market Data workshop has been designed to provide participants with more insights into the importance of Market Data in making robust and informed investment decisions.
Market Data, the by-product of activities on the platform of the Exchange, remains a key ingredient for investment endeavours. We intend to leverage this workshop to intimate you of new data products that will complement our existing list of non-display products, which cut across real time, reference and thematic datasets. These are designed to help unleash your creative juices and take advantage of emerging technologies such as cloud, analytics, algorithmic trading and artificial intelligence to name a few.
Since the launch of X-GEN in 2013, one of the mandates of the Exchange has been to make the market more accessible, using technology as an enabler. This was achieved with the introduction of FIX protocol as the conduit to open up instant access of the Nigerian bourse to investors, media, government, software vendors, and other capital market stakeholders. X-GEN has further accelerated financial inclusion as well as enhance investor’s participation in the capital market through initiatives like “Trade Smart”, for investors to trade on-the-go and at their convenience. Today, Broker-Dealers can now route orders from the convenience of their offices instead of coming to the floors of the Exchange. All these and much more have been facilitated through technology with Market Data as the catalyst.
While the national economy relapsed into recession in Q2, 2016 with a contraction of 2.06%, the NSE All Share Index dropped to its lowest in 4 years at 22,256.32 points. At the early start of Q1, 2017, the Capital Market started to show signs of a rebound that was sustained through Q2, 2017. Correlated with other macro-economic indicators and market statistics, it was quite obvious that the national economy was tethering its way out of recession. Accordingly, when the news broke that the Nigerian economy was out of recession in Q2 this year, it came as no surprise to discerning investors who had been abreast with Market Data. It comes to mind as a reminder, that the Capital Market remains a very reliable forward indicator of economic direction. The capacity by which the Capital Market is able to exhibit this characteristic is facilitated through Market Data.
There are many ways in which Market Data proves its value. One interesting way is in understanding economic trends. Historians are of the opinion that history always repeat itself, similarly, a familiar saying about history tells us that “history is written by the victors”. If this saying is true, then it corroborates the idea that “the market always wins”. Market events of yesterday are written in Market Data, just as a book is written for its readers. So, if it is true that readers are leaders, then it is safe to conjecture that the investors who “read” Market Data would eventually lead the market – i.e. emerge profitable.
Let me state that our efforts in improving investor’s education and enhancing the investor’s experience are yielding positive results. The NSE ASI index is arguably the best performing index YTD in Africa in comparison to major indices in the same league. Considering the fact that our market closed the previous year on a negative note, the NSE ASI is up by 32.05% YTD. Notably also, is the fact that we have witnessed an unprecedented local participation in our market within the last one year. Among other indicators, it is a testament that local investors are embracing Market Data better than they used to – to spot the inherent opportunities or challenges, and make informed decisions on their investments.
In this edition of the NSE Market Data workshop, I have no doubt that you will richly benefit from the various presentations and panel discussion sessions lined-up. Topics have been drawn from trending issues such as the role of FinTech(Financial technology) in extending the capital market horizon, Exchanges linkage and integration across African markets, and the role of the media in Market Data, to mention but a few.
Distinguished ladies and gentlemen, I urge you to participate fully in the ensuing discussions and pay close attention to the many solutions and initiatives proffered, and then proceed to leverage them in your personal investment endeavours and also in innovating and enhancing efficiencies in your different organisations. In support of our quest to raise more informed and better equipped investors, we hope to extend the learnings today to all corners of the market. I believe that the learnings from our interactions in this workshop will further elevate our insights on the latent opportunities in our market and economy at large.
I thank you all for taking time out of your busy schedules to be here and to share this experience with us. A big thank you to my extraordinary team at the NSE, led by Mr. Ade Bajomo, the Executive Director, Market Operations and Technology, for the drive and enthusiasm in putting up a “recharged” show for this year. I couldn’t be more proud of you all. Let me also thank our lead sponsor for this event, Thomson Reuters and our other esteemed sponsors: Sankore Investments, Elev8Media, ARM Securities, Infoware, Zanibal, Global Trybe Solutions and Ntel for helping to make today’s Workshop a reality.
I wish you all an exciting workshop and enjoin us all to remember, even after this workshop, the importance of Market Data in making sound investment decisions.