In its bid to boost Nigerian financial markets information, Proshare, Nigeria’s premier economic and financial information hub and National Association of Securities Dealers Plc (NASD), Nigeria’s foremost securities exchange for unquoted public companies, have announced a landmark partnership aimed at communicating the activities and developments of the NASD OTC market towards fostering transparency, education and growth.
Following the launch of Proshare 10.0 Phase 1 project on February 29, 2016, a hub designed to have a direct linkage between markets, businesses, technology and the economy; partnering with other exchanges that make up the Nigerian Financial Market became essential.
This partnership will combine the professional expertise of NASD Plc with Proshare’s investor education and enlightenment methodologies to boost the activities of the OTC market and in return the Nigerian Financial Market.
The partnership will focus on three broad areas viz the development of a dedicated page for the OTC Market to enhance data backed engagement, the education of Proshare’s team to deliver independent analysis that can be translated to pricing information, and the deployment of communication strategies to increase the attraction of the NASD OTC exchange to new type firms.
Commenting on the announcement, Mr. Olufemi Awoyemi, Managing Director, Proshare Nigeria, said: “This partnership is critical to our mission of making information readily available to investors to enhance intelligent investing. As investors become more sophisticated and desire alternative investment schemes in an economy technically heading towards recession, investors can now be rest assured of independent analysis that would further enable them make informed investment decisions”.
In addition, Reshu Bagga, Technical Director/Chief Operating Officer of Proshare Nigeria, said the move would see Proshare host a dedicated page for the OTC market within its platform and then a development of investor relations pages for the individual securities trading on the exchange.
According to her, this would boost investor’s confidence in trading OTC Market securities. “While we progress on integrating other markets into one hub Proshare Markets for easy information access to the investing community, Proshare remains committed to provide credible, reliable and timely information while we seek to enlighten, educate and empower our users”.