IN further appreciation of the efforts by the Nigerian Stock Exchange (NSE) to create products that will take the capital market to the global audience, the NSE has been approached by Bloomberg to co-brand all the newly-created indices, NSE-30 and the 4 sector indices.
Professor Ndi Okereke-Onyiuke the director general of the Nigerian Stock Exchange stated this in her briefing last week in Lagos.
She said the Bloomberg branding will further enhance the profile of these indices and thereby give institutions the confidence to create products based on these indices, knowing that they will be displayed to a global investor base via the Bloomberg screens worldwide.
Onyiuke noted that the arrangement will develop a revenue stream for the NSE in due course. The contracts are currently under review and it is expected that these will be signed in the coming weeks.
Also on the matter of new products, she said  an application has been submitted to the Securities and Exchange Commission (Sec) for the creation of the first Exchange Traded Fund (ETF) in Nigeria and it is hoped that this will be approved shortly as such products are expected to further deepen the market.
Meanwhile, the director general said that the private placements and emerging markets department of the exchange will be renamed the Alternative Investment Market and Private Placement Exchange (AIM/PRIPEX).
She stressed that the exchange will, through the AIM/PRIPEX, offer a “Special Window” for all concluded private placements to be listed on the exchange. This window will be open for a period of 180 days post-private placement.
However, the secondary market also promises to be busy with many companies that executed Private Placements in 2008 take advantage of the window of opportunity offered by the recently-created AIM/PRIPEX, to list their shares. Through public awareness programmes, the exchange plans to sensitize the investing public on the various opportunities available in the stock market, Onyiuke said.