VENTURES AFRICA – As part of a transformation strategy geared towards making its data distribution market more accessible to international investors, the Nigerian Stock Exchange (NSE) has signed 12 market data vendors to create a joint index, while mandating all market data distributors to sign an agreement with the Exchange.
Market data include data generated from the NSE on day-to-day basis, which includes the price list of the listed securities, the volume, value and generated figure emanating from the exchange.
Speaking at the NSE data market interactive forum in Lagos, NSE Chief Executive Officer, Oscar Onyema, said the exchange decided to make it mandatory for the distributors of the market data to sign an MOU in line with the resolution of the exchange.
He stated that what the exchange is trying to do is “to provide structure and standardise the redistribution of data so that investors that want to use the data will know exactly what they are getting, when they are going to get it and the quality of what they are getting.
Onyema explained that ”The NSE provides free access of data to the website. As long as you are not distributing, you can access it without paying any fee. Anyone who wants to distribute it must sign an agreement with us and a license fee paid. This is to allow you use the data the way you want.”
$25, 000 and N1.2 million (7,407) per annum will be charged respectively for international and local vendors seeking to redistribute market date real-time, while electronic media will be mandated to pay $4, 500 per year for real-time data and $3000 for delayed data.
Onyema said that so far, the bourse has spent $10 million to replace its current trading engine (Horizon) which would be put in place before the end of the fourth quater of the year.
Oluwabusayo Sotunde is a versatile writer with interest is in business analysis, the Stock Market, book and music reviews. She also has keen interest in developmental issues, reading, adventure and innovation. Her writing experience includes stock market updates on InvestingPort.com and contributing to CP-Africa.com. She also had an internship with Eko FM, Lagos (at the news and current affairs department) before proceeding to the Nigerian Institute of Journalism (NIJ) to complete her studies. 
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