The Nigerian Exchange Group, NGX Group, is Nigeria’s prime monetary institution and a leader in stock listing and trading in Africa. Its history dates back to the early 1960s with its opening name as Lagos Stock Exchange that was scrapped a few years after being renamed Nigeria Stock Exchange, NSE.
In 2021, the NSE got approval from the SEC to demutualize into a non-operating holding company, Nigerian Exchange Group, NGX Group.
The NGX currently functions in three divisions; Nigerian Exchange Limited (NGX Limited), the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulation company; and NGX Real Estate Limited (NGX RELCO), the real estate company.
These are the things to know about the Nigerian Exchange and stock market, NGX.
NGX a wholly-owned subsidiary of the NGX Group and has at least 160 traded stocks in 2021.
It is a multi-asset exchange providing a home to the best of African enterprises listed on its boards – Main, Premium, and Growth Boards.
It also exchanges diverse fixed income securities, Exchange Traded Products (ETPs), mutual investment funds.
NGX is regulated by the Securities and Exchange Commission (SEC) and licensed under the Investments and Securities Act (ISA).
- Rebranded NGX indices and change of NSE prefixes
- Highlights of Nigerian Exchange (NGX) derivatives market training
- NSE receives final approvals of its demutualisation plan from SEC and CAC
Other associates of the NSE include African Securities Exchanges Association (ASEA) where it is an executive committee member.
It is also an affiliate of the World Federation of Exchanges (WFE).
What makes up the Nigerian Exchange and Stock Market, NGX
The Nigerian Exchange and stock, NGX has a market cap of ₦37.7 trillion in June 2021.
It operates 166 Equities, 154 Bonds, 9 Exchange Traded Funds (ETFs) and 53 Memorandum listings.
The NGX operates an Automated Trading System (ATS) to enable trading through a network of computers connected to a server. The NGX is open to foreign brokers and investors.