NSE Upgrades X-Issue to Enhance Market Integrity, Efficiency

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Goddy Egene

The Nigerian Stock Exchange (NSE) has upgraded its Issuers’ Portal (X-Issuer) to enable investors, analysts and other stakeholders evaluate data more accurately and timely.

X-Issuer, which was first launched in 2013, is a secure web-based portal designed to enable issuers conveniently file information in an electronic format to the exchange. It is a key regulatory initiative of the NSE, developed to ensure electronic delivery of issuers’ mandatory filings and other information in a structured and continuous manner to capital market stakeholders.

Speaking on the development, the Chief Executive Officer, NSE, Mr. Oscar Onyema, said: “This upgrade affirms our commitment to eliminating information asymmetry in our market and protecting investors. The X-Issuer has, therefore, been enhanced to ensure that investors, analysts and other stakeholders are better able to evaluate data in an accurate, timely and more efficient manner. We are positive that the improvements we have incorporated will achieve greater transparency, integrity and accountability in our capital market; facilitate informed investment decision-making while providing an enhanced experience for issuers.”

Also speaking, the Executive Director, Regulation Division, NSE, Ms. Tinuade Awe, said: “At the NSE, we understand the importance of information in driving a vibrant capital market. As such, we are pleased to introduce the revamped X-Issuer to the market with its new features that will enable easy, convenient and more reliable submission and dissemination of company information, corporate actions, directors’ and insiders’ share dealing information, financial statements, earnings forecasts, meeting notices, and much more. We believe that the upgraded X-Issuer will further enhance the experience of issuers and expedite the discharge of post-listings obligations in a cost-effective and efficient manner.”

According to exchange, the enhanced X-Issuer, comes with modern layout, improved functionalities and new user-friendly features to further enhance the compliance and regulation experience of issuers. Some of the new features include the release calendar module to allow issuers proactively file corporate actions and upcoming meetings; and an information channel for fund managers to share information about their funds.

The NSE said it remains committed to investing in business innovation and technological enhancements that will enable it to meet the needs of its stakeholders especially as we transition to a world of reduced physical interactions. It noted that the X-Issuer is one of its dedicated efforts to improve the level of services it provides to the market, while enhancing its ability to compete effectively in the global marketplace.