Following 50 months of zero-fee income on debt instruments traded via its platform, Nigerian Stock Exchange (NSE), at the weekend, announced that it has received approval of Securities and Exchange Commission (SEC) to charge a fee of 0.005 per cent or N5 per million with effect from Monday.

The Exchange in a statement, noted that the revised trading fee was in line with its goal to support Nigeria’s economic growth by providing a liquid, efficient, and multi-asset securities exchange hub.

“Following the end of 4-year Fixed Income Securities Trading Fee moratorium, the Exchange has now received the regulatory approval of SEC to revise its fee structure. The revised fees will become effective on 5 October 2020. Under this revised fee structure, The Exchange will charge 0.0005 per cent (N5 per million) on debt instruments traded on its platform”,  NSE said.

According to the exchange, NSE offers a hybrid market for  execution of quote and order-driven transactions providing dealers as well as institutional and retail investors access to increased liquidity in fixed income securities.

“By leveraging best-in-class market design and infrastructure, NSE trading venue provides investors an integrated straight-through trading and post-trade process that supports efficient execution without any trade failures across all asset classes including Fixed Income Securities. Investors trading via  NSE platform can also enjoy access to diverse listed debt instruments including Federal Government, State Government, Corporates, Supranational, and Retail Savings Bonds”, the exchange said.

NSE thereafter noted that it remains committed to its corporate goal of providing investors and businesses a reliable, efficient, and an adaptable exchange hub in Africa, to save and to access capital while adding that it will continue to conduct various training, workshops, and conferences on fixed income securities products to build domestic capacity and enhance financial literacy while encouraging inclusiveness.

The Sun