NSE upgrades X-Issuer to enhance market integrity

News Agency Of Nigeria

July 7, 2020 8:38 AM

The Nigerian Stock Exchange (NSE) has upgraded its Issuers’ Portal (X-Issuer) to enhance market integrity.

Oscar Onyema, the Chief Executive Officer, Nigerian Stock Exchange. [financialnigeria]

Mr Oscar Onyema, the Chief Executive Officer, NSE, made this known in a statement made available to newsmen in Lagos on Monday.

Onyema said the X-Issuer was one of the Exchange’s dedicated efforts to improve the level of services it provided to the market.

The NSE boss said: “This upgrade affirms our commitment to eliminating information asymmetry in our market and protecting investors.

“The X-Issuer has, therefore, been enhanced to ensure that investors, analysts and other stakeholders are better able to evaluate data in an accurate, timely and more efficient manner.

“We are positive that the improvements we have incorporated will achieve greater transparency, integrity and accountability in our capital market; facilitate informed investment decision-making while providing an enhanced experience for issuers.”

On her part, the Executive Director, Regulation Division, NSE, Ms Tinuade Awe, said that the revamped X-Issuer would drive a vibrant capital market.

“At the NSE, we understand the importance of information in driving a vibrant capital market. As such, we are pleased to introduce the revamped X-Issuer to the market with its new features.

“That will enable easy, convenient and more reliable submission and dissemination of company information, corporate actions, directors’ and insiders’ share dealing information, financial statements, earnings forecasts, meeting notices and much more.

“We believe that the upgraded X-Issuer will further enhance the experience of issuers and expedite the discharge of post-listings obligations in a cost-effective and efficient manner,’ Awe said.

The X-Issuer was first launched in 2013 for a secured web-based portal designed to enable Issuers conveniently file information in an electronic format to the Exchange.

It is a key regulatory initiative of the NSE, developed to ensure electronic delivery of Issuers’ mandatory filings and other information in a structured and continuous manner to capital market stakeholders.

Some of the new features include the Release Calendar Module to allow issuers proactively file corporate actions and upcoming meetings; and an information channel for fund managers to share information about their funds.

According to the statement, NSE remains committed to investing in business innovation and technological enhancements that will enable it to meet the needs of its stakeholders.

“Especially as the world transits to a world of reduced physical interactions.

“The X-Issuer is one of The Exchange’s dedicated efforts to improve the level of services it provides to the market, while enhancing its ability to compete effectively in the global marketplace,” it added.

News Agency Of Nigeria