NSE releases list of market makers in Nigeria
By Laz IBEABUCHI
LAGOS-Ten stock broken firms, today have been approved by the Nigerian Stock Exchange (NSE) to begin market making operations with a bid to revive the ailing market and restore investors’ confidence.
According to a statement by NSE, the firms include: Stanbic IBTC Capital, FBN Capital, Greenwich Securities, WSTC, Future View, Vetiva Capital Management, ESS/DunnLoren Merrifield, CSL Stockbrokers, Renaissance Capital and Capital Bancorp.
“The selected firms were taken through trainings, debated the appropriate market structure to be used and The Exchange further went through the approval of the Securities and Exchange Commission (SEC) in the selection process” added Onyema.
The Exchange also promised that a number of firms will be selected to perform a supplementary Market Making role at a future date.
A market maker crates equilibrium in the stock market by buying shares overhang and offering same for sell when there is scarcity in order to create activity in the given stock.