As part of its commitment to help boost economic development in Nigeria, Microsoft Nigeria - a subsidiary of Software giant Microsoft corp introduced cutting-edge technology to capital market operators at the Nigeria Stock Exchange (NSE) organised X-Gen Expo.
The X-Gen is a new electronic trading platform that will allow stockbrokers and other stakeholders access the market anywhere, anytime. The expo provided an avenue for market shareholders and solution providers to further discuss the functionalities and usage of the X-Gen.
At the Expo, Microsoft displayed its Microsoft Office 365, a cloud service which has the potential to fuel business and economic transformation by delivering cost-effective, flexible access to enterprise-class IT and productivity backbone for modern businesses.
Adefolu Majekodunmi, Channels and Partners Director, Microsoft Nigeria said “Microsoft is working with the NSE to provide top notch technology at the right price to capital market operators. We do this through cloud service provisioning at a low cost and without infrastructure cost.”
NSE Chief Executive Officer, Oscar Onyema, described the X-Gen Expo as the first of its kind since inception of the NSE in 1960 and stated that the “X-Gen symbolises NSE’s untiring commitment to delivering a first rate technology platform that will enable our members build and grow their businesses, and the investing community experience a more efficient market when they buy and sell securities.”
On his part, Ade Bajomo, Executive Director, Market Operations and Technology at the NSE posits that the new trading models will support algorithm trading, customer driven electronic trading, direct market access and high frequency trading, amongst others.
“The system when introduced is expected to improve transparency, market access, audit trail and provide efficient price discovery in the market, thereby enabling investors to realise their investment objectives by using products currently offered at the Exchange in more meaningful ways.
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