The computer and Internet technologies are ubiquitous. They have changed every sector; be it medicine, tourism, education, entertainment or any other. Technology has touched every aspect of life, making it easier, better and different. In fact, technology has changed living.

Technology, according to Wikipedia, the online free dictionary is the purposeful application of information in the design, production, and utilisation of goods and services, and in the organisation of human activities.

Technology is generally divided into five categories: Tangible, intangible, high, intermediate and low.

Under tangible, we have blueprints, models, operating manuals, prototypes while under intangible, there consultancy, problem-solving and training methods.

Under high are entirely or almost entirely automated and intelligent technology that manipulates ever finer matter and ever powerful forces; Intermediate include semi-automated partially intelligent technology that manipulates refined matter and medium level forces while under are labour-intensive technology that manipulates only coarse or gross matter and weaker forces.

Technology has become very important to the modern world. This is because we are literally surrounded by technology. Whether we are working or resting, we are always using technology. It is used everywhere and all the time. Its use has made life easy.

The use of technology has made places that are far away become closer, pace of life has increased, communication has become rapid, make travel fast, movement easy, action quick, speed up interaction as well as life and things used to take several hours to complete, can now be done in seconds today. In essence, technology has made the world smaller and life fast.

Owing to the application of technology, our standard of living has increased. Our needs are met with greater ease. Technology has brought advancements in agriculture, due to which food produce has increased. Owing to the developments in engineering and architecture, building robust civil structures has been possible. Technology has boosted every industry. Businesses have grown, creating more employment opportunities. Advancements in technology have led to the evolution of newer and faster modes of transport and communication. The application of technology has boosted research in fields ranging from genetics to extraterrestrial space.

The discovery of electricity drove all the darkness away and lit up the world. If not for the use of technology, we wouldn’t have been able to produce electric power or harness it. Today, it can be generated through various means because of technology. Heat energy (from combustion in fossil-fuel power plants, from steam in thermal power plants and from chemical reactions in nuclear power plants) is converted into mechanical energy that drives turbines connected to an electrical generator that produces electricity. Using overhead and underground cables, the electricity can then be distributed to the smallest of households in the farthest of world’s corners, thanks to technology. Taking it home to the purpose of this write-up, the Nigerian Stock Exchange blazed the trail in technological development in the Nigerian capital market in 1999 with the introduction of the Automated Trading System (ATS), a development which effectively computerised the trading system of the NSE following the successful implementation of the computerisation of its Central Securities Clearing System (CSCS) in 1997.

The computerisation of trading on the NSE in 1999 replaced the call over system that had been the vogue since the exchange was established in 1961. One of the immediate benefit of the computerization programme of the NSE were reduction of settlement period from about 90 days to T+3, that is the transaction of securities was completed in four days.

Others were increase in turnover, price discovery as well as remarkable growth of the new issues and the secondary market.

NSE X-Gen trading platform

Owing to the successful implementation of the computerization project and the need to advance it, the NSE recently launched the Ex-Gen trading system

According to Mr Ade Bajomo, executive director Market Operations and Technology, we are trading live on X-Gen and this is a result of a focused, disciplined and intensive 12-month project involving the NSE, its technical partners and the broker dealer community. We believe that the successful implementation of this modern, world-class trading technology suite is a significant development that will change the experience of doing business in not only the Nigerian capital market but in Africa.

The new trading platform is based on a number of leading technologies, including NASDAQ OMX’s XStream matching engine, and the NSE’s flexible and robust X-GEN Market Database, developed by the NSE and its technical partners, and will support trading of cash equities, bonds, ETFs and derivatives (from 2014), giving wider access to real time data, improved market transparency and governance.

The platform is also enabled to run the Financial Information Exchange (FIX) protocol version 5. These technologies have been deployed on a highly optimized low latency network (X-Net) for trading on the floor of the Exchange and remote broker-dealer offices based in Lagos and underpinned by efficient business processes.

With this development, Nigeria became the first country in West Africa to adopt this highly sophisticated trading system.

For Oscar Onyema, the CEO of the NSE, “By deploying the industry’s leading trading engine, the NSE is making it clear to the domestic and international market participants that it is dedicated to operating a high performance, low latency, robust, scalable and flexible marketplace”

He said, “The Nigerian Stock Exchange has always been focused on investing in technology, but with X-GEN our trading platform is now among the most advanced in the world and that further extends our leadership position in Africa.”

Development of online trading portal

Coming on this heel, some discerning members of the NSE have launched online trading portal to enhance and revive interest of investors in the retail segment of the stock market.

Meristem Securities Limited, a dealing member of the Nigerian Stock Exchange (NSE) which has introduced Meritrade online platform for local and international investors to maximize opportunities in the Nigerian stock market.

Meritrade is an online stock broking platform which allows users buy and sell stocks online through the Nigerian Stock Exchange from the comfort of their homes, offices, cars and even on the go. The platform defines stock broking in entirely different language and creates a world class experience, bringing the broker (electronically) to the comfort of investors’ homes and offices.

Head of stockbroking of Meristem Securities, Mrs Gbadunola Sokunbi said Meritrade comes with ease and is for the benefit of the retail segment of the Nigerian capital market; thus, making Meristem contribute to the positioning of the NSE to champion the acceleration of Africa’s economic development while creating durable wealth.

The Meritrade platform will guarantee investors’ convenience as it will enable retail investors to open stockbroking account without having to walk into a stockbroking house from wherever, whenever and even on the go.

Also it will enable investors fund their accounts by making deposits without necessarily walking into a banking hall, place orders for prompt execution and receive contract note instantly.

Other benefits of the platform are real-time notification on trade execution, trade the way an investor wants, manage and take full control of investors’ investments at all times as well as explore market data and quality research reports.

The development of the new trading platform has become imperative with the NSE’s recent launch of its new trading engine, the X-Gen platform, which enables completion of trading transactions without human intervention.

Mrs Sokunbi said www.meritrade.com presents stock-trading experience in an unprecedented form, remarking that indeed it is the beginning of a new era. She enjoined investors to enjoy this fairly extensive walk-through system and its Mobile Apps. “This mobile stock trading experience is second to none in Nigeria! It is indeed a pride that Meristem has brought to the industry. The mobile app is available on Apple’s iPhone and iPad as well as other Android and Blackberry powered devices.”

The head of stockbroking encouraged investors with smart phones and other devices to take a ride into the world of endless possibilities at www.meritrade.com.

The Meritrade platform, that is, www.meritrade.com also provides users with market data and information on all quoted companies, spiced with quality research reports that will guide their safe investment decisions.

In this same vein, Capital Bancorp Plc, a dealing member of the Nigerian Stock Exchange (NSE) has also introduced Bancorp e-Trade, an stock trading portal as part of its strategy to revive the interest of local investors in the Nigerian stock market.

Chairman of the company, Mr Olutola Mobolurin said, “Capital Bancorp on July 23, 2013 blazed the trail in the market with the launching of the online trading platform to enable prospective investors buy and trade their shares or bonds with ease from the comfort of their homes or offices.”

For Mr Aigboje Higo, managing director and chief executive officer of Capital Bancorp said, “ the Bancorp e-Trade platform is an inventive retail stockbroking online service offering, carefully crafted to provide access to stockbroking services for the busy executive and upwardly mobile young adults.”

According to him, it is a platform to encourage financial inclusion for the investing public through a user-friendly and simple online interface, adding that it is about the ease of transactions from the comfort of homes or offices as the user is only a click away via its hand held, portable tablet or the good old computer system.

Higo also said the online platform was introduced to leverage on technology and make trading in shares or bonds more inclusive in a bid to capture more of the retail segment of the market.

He listed some of the features of the portal as: displaying of balance in any currency of choice, clients can give mandate online to buy or sell, ability to place order at anytime (including outside the NSE trading hours), ability to specify dates on orders as well as ability for clients to review their portfolio balance and portfolio analysis.

The managing director said a prospective client must have access to the internet, have a functioning e-mail address, have an active bank account (current or savings), a fair understanding of the workings of the stock market and a stockbroking account with Capital Bancorp.

Higo also said some of the benefits to the user are ease of access to portfolio position and statement, reduced cost (travelling and opportunities costs), convenience, increased transparency and access to latest stock market information among others.

Also, on the trail is Lead Securities & Investment Limited which has launched an on-line trading portal called LeadTrader which offers investor secured channel to buy and sell shares of companies listed on the Nigerian Stock Exchange (NSE).

Chairman of Lead Securities & Investment, Mr Abimbola Olashore said, “Lead Securities has taken advantage of the X-Gen trading platform which provides an on-line market data to vendors to upgrade its existing trading infrastructure to a world class trading portal.”

He explained that LeadTrader conformed with global best solutions for on-line, real-time trading of securities utilised by retail and institutional investors in advanced economies.

He added that the trading portal provided investors the comfort and convenience of executing their trades on-line via a range of devices as desktops, laptops, tablets and other mobile devices. “Orders submitted via LeadTrader pass through a fix compatible Order Management System (OMS) where appropriate compliance checks are in place to prevent erroneous orders going into the NSE’s trading engine.

Managing director of the company, Mr Wale Adewumi also added that this is a system that investors can access in knowing the transaction that was carried out on their investment on the exchange, saying investors can get live trading information.

He pointed out that the portal would give investors confidence on their investment in the capital market.

Source: http://leadership.ng