The Nigerian Stock Exchange, NSE has said that the new trading engine, X-Gen, which fully became operational, Monday, will transform the Nigerian business system in the entire African capital market.
The Executive Director, Operations and Technology, NSE, Ade Bajomo, who made this remarks said, “Today, we are trading live on X-Gen and this is a result of a focused, disciplined and intensive 12-month project involving the NSE, its technical partners and the broker dealer community. We believe that the successful implementation of this modern, world-class trading technology suite is a significant development that will change the experience of doing business in not only the Nigerian capital market but in Africa”
He noted that by this gesture, the NSE has made it clear to the domestic and international market participants that it is dedicated to operating a high performance, low latency, robust, scalable and flexible marketplace.
In his remarks, the Chief Executive Officer, NSE, Mr Oscar Onyema, said: “The Nigerian Stock Exchange has always been focused on investing in technology, but with X-GEN, our trading platform is now among the most advanced in the world and that further extends our leadership position in Africa.”
The new trading stage is predicated on a number of technologies such as NASDAQ OMX’s XStream matching engine and the NSE’s X-GEN Market Database.