Home Business NSE Tasks New Dealing Clerks on Professionalism, Integrity and Transparency

NSE Tasks New Dealing Clerks on Professionalism, Integrity and Transparency

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The Nigerian Stock Exchange (NSE) has challenged newly-inducted dealing clerks to maintain internal values of Professionalism, Integrity and Transparency.
Chief Executive Officer of NSE, Mr. Oscar Onyema, while speaking at the inauguration of new dealing clerks, said out of 50 candidates who wrote the Chartered Institute of Stockbrokers (CIS) examination and went through the mandatory practical Automated Trading System (ATS) training at the Exchange, 39 candidates passed the oral examination.
NSE
He explained that the oral examination was designed to test the understanding of practical aspects of the profession, adding that, “The robes you will don today represent a commitment to uphold the Chartered Institute of Stockbrokers (CIS) ethical standards and the NSE code of conduct for Dealing Members.
“It represents a pledge to be tall on integrity and spotless in character. It represents a decision to put the interest of the market first.  We sincerely hope that each and every one of you will abide by the rules and regulations of NSE and CIS. Please note that due to the level of development in our market, we operate a zero tolerance policy on all infractions.
“As an Exchange, we will continue to do our part in ensuring that we provide a competitive platform for you to participate in the financial market. In addition to the MOS, we have executed several initiatives to strengthen the operations of our Dealing Members and to make them comparable with their foreign counterpart.
“One of these is X-Boss, which automates and enhances the regulatory and oversight function of the NSE over its Dealing Members in the area of rendition of regulatory filings, analysis of financial renditions, capital and liquidity monitoring as well as compliance monitoring and reporting in line with global best practice. We have also provided several platforms to ensure continuous dialogue with our Dealing Members to aid improvement in all areas.
“Furthermore, the Exchange has implemented a strong regulatory environment to protect investors against infractions while enhancing investor confidence in the market. We have developed and revised enforceable rules for Dealing Members and Issuers, and signed an MOU with Economic and Financial Crimes Commission (EFCC) to increase cooperation and communication in the fight against financial crimes in the capital market.
“As a full member of the World Federation of Exchanges (WFE), we are committed to holding the highest standards for exchanges on the globe. Full membership in the WFE affirms the evolution of our capital market, and positions Nigeria as a viable and credible investment destination. We encourage you to get familiar with and to uphold WFE standards. In conclusion, I will like to congratulate you once again on achieving this great feat and I wish you all the best in your future endeavours in the capital market”.
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