The Chartered Institute of Stockbrokers (CIS) has said the construction of a private trading floor in Lagos will promote professional stockbroking in the country. The Institute said this when members of its council, led by the President, Mr. Ariyo Olushekun, visited the 150 seat multipurpose private trading floor built by GTI Securities in Lagos.
The emergence of the trading floor, which is designed to allow brokers and dealers trade on the Nigerian Stock Exchange will allow stockbrokers to practice as professionals ‘in their own right.’
He added that the possibility of brokers and dealers trading directly through private trading floor such as GTI’s will make certification by the institute more salient and it would also create more opportunities for brokers.
He, however, urged GTI Securities to work towards a situation where brokers and dealers can also access the commodities exchange and debt securities exchange.
The 1st Vice president of the Institute, Mr. Emmanuel Ohanwusi explained that before the establishment of the private trading floor, which is the first in the country, private stockbroking existed only as a concept for the future.
The Managing director, GTI Securities, Mr. Tunde Oyekunle, told the CIS officials that it would continue to ensure that the trading floor meet all expectations.