The Nigerian Stock Exchange is set to commence trading
activities on its new trading platform, X-GEN, from next week. This was
disclosed by Mr. Oscar Onyema, the Chief Executive Officer of the Exchange. ”We
have had a series of market readiness tests, created a new market structure
that is world class and are now making final preparations to cutover to our
next Generation platform this weekend” said Onyema.
The Executive Director, Market Operations and Technology,
Mr. Ade Bajomo, stated while giving his green signal last Saturday, “We have
great confidence in this platform. Three market readiness tests were
successfully executed over the past five weeks with a focus on the performance
of the trading engine and integration of all interfaces including remote users
coming in via the Fix gateway. Brokers and NSE technical team were able to
successfully place orders, migrate data and complete a series of full dress
rehearsal. It is exciting that we are
able to execute and test all our tasks and are confident with the results”.
X-GEN has been described as a high performance, robust and
scalable, multi-asset, multi-market matching trading engine. According to
Bajomo, “this is the first country in West Africa to adopt this highly
sophisticated trading system. As we all know, the trading system is at the
heart of any exchange and the shifting to the new platform and ensuring its
smooth transition was a key priority for the NSE. We are extremely delighted to
co-operate with Nasdaq, LasalleTech and our several partners to adopt this
cutting-edge platform. I would like to take this opportunity to extend a
sincere thanks to the brokers for their exceptional commitment during the trainings
and rehearsals weekends. We believe the testing’s and preparation for the high
capacity system will play a key role during cutover weekend" Onyema added.
The Nigerian Stock Exchange is set to commence trading
activities on its new trading platform, X-GEN, from next week. This was
disclosed by Mr. Oscar Onyema, the Chief Executive Officer of the Exchange. ”We
have had a series of market readiness tests, created a new market structure
that is world class and are now making final preparations to cutover to our
next Generation platform this weekend” said Onyema.
The Executive Director, Market Operations and Technology,
Mr. Ade Bajomo, stated while giving his green signal last Saturday, “We have
great confidence in this platform. Three market readiness tests were
successfully executed over the past five weeks with a focus on the performance
of the trading engine and integration of all interfaces including remote users
coming in via the Fix gateway. Brokers and NSE technical team were able to
successfully place orders, migrate data and complete a series of full dress
rehearsal. It is exciting that we are
able to execute and test all our tasks and are confident with the results”.
X-GEN has been described as a high performance, robust and
scalable, multi-asset, multi-market matching trading engine. According to
Bajomo, “this is the first country in West Africa to adopt this highly
sophisticated trading system. As we all know, the trading system is at the
heart of any exchange and the shifting to the new platform and ensuring its
smooth transition was a key priority for the NSE. We are extremely delighted to
co-operate with Nasdaq, LasalleTech and our several partners to adopt this
cutting-edge platform. I would like to take this opportunity to extend a
sincere thanks to the brokers for their exceptional commitment during the trainings
and rehearsals weekends. We believe the testing’s and preparation for the high
capacity system will play a key role during cutover weekend" Onyema added.
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