Mr. Oscar Onyema, Nigeria Stock Exchange Chairman, said tying up the African bourses requires working on developing the technological systems for the continent markets, after stipulating the convenient cost for each market.
He referred to the necessity of considering some cases concerning what after trading processes in the bourses and unifying them on the continent level, citing the USA which has the unified settlement system in all bourses, unlike Africa which has different systems obstacle the tying up between bourses. He also underscored the significance of taking advantage of other experience all over the world in the field of technological tying up between bourses.
Concerning Nigerian Stock Exchange, Onyema said there are certain factors of selecting the company that will build the technological systems of NSE. The most important factors are that the company’s experience in managing stock markets and the cost factor which primarily controls the selection process.
Onyema stressed on the importance of the cost factor which can be tackled from two perspectives; the value stock returns and volume of techniques. Small bourses shall be supported and helped in increasing their volume of transactions. Building technological system is necessary to be compatible with the abilities of such stock markets to be in line with the other stock markets to be linked easily with each other.
