Fourth Industrial Revolution: NSE explores emerging technologies to advancement services

WorldStage Newsonline– Nigerian Stock Exchange (NSE) said it is leveraging on the opportunities presented by the Fourth Industrial Revolution to investigate the market potential of key emerging technologies in order to advancement its services.

The Chief Executive Officer of the Exchange, Oscar N. Onyema, said at the 4th edition of The Nigerian Stock Exchange (NSE) – Bloomberg CEO Roundtable in Lagos on Tuesday that the organization was targeting emerging technologies to empower a larger proportion of the populace to access the capital market; and unlock efficiencies in product and service delivery for capital market operators.

The event with the theme, “Reshaping the Nigerian Economy for Sustainable Growth: Leveraging the Fourth Industrial Revolution as a Catalyst for Advancement”, which attracted top executives from the private sector was held at the NSE.

Onyema said that the ideas generated in the past editions of the roundtable had provided the Exchange with more insights in carrying out its advocacy efforts with policy makers, and some of these ideas had been implemented and gone ahead to spur a rebound of the economy.

He said the recurring theme in previous editions of the CEO Roundtable had been the dependence of the Nigerian economy on a singular commodity, the inability to extract value across supply and value chains as well as unfavourable business conditions to create a diversified economy.

However, he noted that this year’s edition of the CEO Roundtable was designed not only to discuss frameworks for economic turnaround, but explore how to position the Nigerian economy for sustained growth.

“Today, most of the world’s developed economies have begun to adapt to the Fourth Industrial Revolution, which has integrated digital, physical and even biological technologies, with clear impacts on unlocking latent economic value, with far reaching effects that have led to disruption of certain industries and creation of new ones. The opportunity the Fourth Industrial Revolution presents is unlike any other, as the barriers to entry are low, with an upside that is vast and yet to be quantified,” he said.

“At the Exchange, we consider ourselves to be a forward-thinking securities exchange, and have since begun the advancement of our offerings with the assistance of technology. In 2013, we launched X-Gen, our next generation trading platform and catalyst for boosting trading in Africa. On the back of this, we introduced TradeSmart, a mobile trading technology that enables investors to conveniently buy, sell and monitor their investments.

“We have embraced cloud-based technologies by building our own Data Centre to provide a number of services ranging from cloud computing, storage and database offering, networking, and management tools, to mention a few. We also acquired SMARTS, a robust market surveillance technology with Artificial

“Intelligence to monitor and prevent marker abuse by fraudsters. This technology helps NSE to proactively forestall market manipulation, spoofing etc. This has elevated the investor protection systems at the NSE to the same level as the exchanges in the Intermarket Surveillance Group (ISG), a global organization which monitors for manipulative and fraudulent market practices, and shares information between international members.”

He commended Bloomberg for the partnership saying it had worked with us tirelessly to make this event possible.

Among top executives at the event include Mark Bohlund, Africa Economist, Bloomberg Economics (BE); Mr. Victor Etuokwu, Executive Director, Access Bank Plc; Oladele Afolabi, Director, Portfolio Management, Debt Management Office; Titi Odunfa Adeoye, Chief Executive Officer, Sankore Investments; Nnamdi J. Okonkwo, Managing Director/Chief Executive Officer, Fidelity Bank Plc; Jubril Enakele, Chief Executive Officer, Zenith Capital Plc; and Shola Akinlade, Chief Executive Officer, Paystack.

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