The Nigerian Exchange Limited (NGX) has listed four trading licensees for non-compliance with minimum operating standards (MOS).
The trading license holders published under the Nigerian Exchange (NGX) BrokerTrax Section which have not been active on the platform include Cadington Securities Limited, Clearview Investments & Securities Limited, GMT Securities & Asset Management Limited and Maven Asset Management Limited.
It would be recalled that the NGX had recently blacklisted some traders and sanctioned eight dealing clerks and thirteen directors over trading rules infractions in 2021.
In recent times, the NGX as part of its efforts to grow investors’ confidence in the market, flagged off the campaign against market infractions by its trading licence holders by introducing a trading licence holders’ compliance report, BrokerTraX.
Based on its requirements, with the BrokerTraX, investors can take well-informed decisions about where to invest by viewing the names of Trading License Holder Firms that have been found liable for contravening market rules.
The aim of the NGX in publishing the report is to reduce contravention of market rules to its barest minimum in line with the deliberate and sustained effort to restore confidence, amongst others.
