The SEC has approved the attached Guidelines on Trade Execution via Nigerian Exchange Limited’s On-Manual Negotiated Deal Window for Fixed Income Securities. 

In line with The Exchange’s efforts to deepen the Nigerian capital market and enhance market liquidity, The Exchange’s Fixed Income Market provides access to both retail and institutional investors to trade fixed income instruments listed by the Federal Government, States, Corporates and Supranational issuers on its platform. It is further to this objective, that The Exchange has adopted an On-manual Negotiated Deal Window for approved Trading Licence Holders to execute negotiated fixed income deals during NGX’s trading hours. Transactions executed in this window will be recognized for price-setting purposes and will be duly reflected in The Exchange’s trading statistics. To ensure effective monitoring, The Exchange has developed and issued the attached Guidelines to provide guidance to approved Trading Licence Holders for the use of the Negotiated Deal Window to execute their trades on bilateral pre-agreed terms. 

 The Guidelines contain Definitions of key terms, Particular Use Guidelines (covering Pre-Transaction Requirements, Order Entry & Execution, and Dispute Resolution); and General Provisions (covering Prevention of Market Abuse, and Limitation of Liability/Indemnity).

Download Here – SEC Approved Guidelines on Trade Execution for Fixed Income Securities