The Nigerian Stock Exchange (NSE) has been appointed as Executive Committee (EC) member of the Financial and Information Services Association (FISD), a division of the Software and Information Industry Association (SIIA).
The appointment which is for a two-year term, beginning January 2020, will have Olufemi Balogun, Head, Market Services Department represent the Exchange. This appointment was communicated to NSE by Tracey Shumpert, Director of Member Services on February 4, 2020.
SIIA is an umbrella association representing 800+ technology, data and media companies globally. Industry leaders work through SIIA’s divisions. As a division, FISD is a global forum for industry participants to address issues and challenges that impact the key players in the value chain including consumer firms, third party groups, and data providers. Through in-person and online business development opportunities, peer networking, corporate education, intellectual property protection and government relations, FISD supports members to identify the trends that will shape the industry segment, and create education opportunities and initiatives to address them.
The Executive Committee of FISD, which is an equitable representation by each of the three FISD broad constituencies — exchanges, vendors and user firms, is charged with representing FISD membership and setting the broad direction for FISD activities. The committee will review and approve new initiatives, provide guidance to working groups and the FISD/SIIA staff, identify priorities for the FISD budget and staff resources, and select new Executive Committee members when vacancies open.
Speaking on this appointment, Oscar N. Onyema, CEO, NSE said, “This appointment is a testament to our commitment to ensuring good data governance and providing excellent customer service to our growing clients. We are inspired to leverage the platform of the FISD to continue to provide innovative data solutions to capital market operators and the investing public.”
The Exchange has been a member of FISD since 2012 and continues to pursue active membership in other international and regional organisations that promote the development and integration of global best practices across its operations.
“Our membership of FISD aligns with our commitment to provide local and international stakeholders with accurate, reliable and timely market data. We have a suite of Market Data products that provide professionals and non-professionals such as the market intermediaries, issuers and investors, with easy access to market information for quick analysis on their investment. We are, therefore, pleased with this appointment as it strategically positions the NSE to further influence Market Data industry policies”, said Chiemeka.
Positioned as a data hub for innovation, The NSE continues to invest in the latest technology tools and data products to provide value to its clients. The latest product is the Investors Relations Data pack, launched in July 2019. The IR Data Pack is an innovative and dynamic webpage integrated with key market data, corporate news and disclosures, for corporate issuers. It is a necessary tool required by issuers to improve their engagement with investors.