Markets

GTI Commended over First Private Trading Floor

Ms Arunma Oteh, DG, SECThe establishment of the first private trading floor in the Nigerian capital market by GTI Securities Limited has been hailed by market regulators, saying it shows the visionary leadership the company has.
 
GTI Securities Limited, which is a member of GTI Capital Group, has just established a 150-seat multipurpose trading floor located on the Marina in  Lagos’s main Central Business District.
 
Speaking during a visit to the trading floor, Director General, Securities and Exchange Commission (SEC), Ms Arunma Oteh, said such visionary leadership shown by GTI in the development of the pioneer private trading floor was illustrative of the excellent and illustrious nature of Nigeria and what the future holds for the Nigerian capital market.
 
Oteh said the quality of the trading floor shows that Nigerian capital market operators could compete effectively with other operators in the global financial centres of London, New York and Tokyo among others.
 
“What I see here today is an example of what Nigeria can achieve with vision. I could not have imagined what I’m seeing here today, it’s absolutely impressive. You have shown that Nigerians are associated with excellence. What I’m seeing here could be in the city of London, it could be in New York, it could be in Tokyo or it could be in Lagos and it’s in Lagos. A hearty congratulation to GTI, I’m overwhelmed with what I’m seeing,” Oteh said.
 
Speaking in the same vein, Executive Director, Market Operations and Technology, Nigerian Stock Exchange (NSE), Mr. Ade Bajomo, described the trading floor as impressive.
 
He said such initiative by a member of the NSE would complement efforts of the exchange to create a robust market with large variety of instruments and market capitalisation of $1 trillion.
 
Managing Director, Goldbanc Asset Management Limited, Mr Abayomi Sanya, said the GTI trading floor was a major shift in the right direction for the Nigerian capital market.
 
According to him, such major initiative was what all stockbrokers should emulate.
Group Managing Director, GTI Capital Group, Mr. Abubakar Lawal, said the establishment of the trading floor was part of company’s contributions to making Lagos the financial capital of the world.
 
He disclosed that the trading floor is fitted with cutting-edge technology that allows seamless interconnectivity with the NSE and other exchanges as well as settlement agents and banks for real time online trading and straight through processing of transactions.
 
He added that the operating system of the trading floor has been embedded with robust risk management framework which will enhance compliance with and enforcement of best practices.
 
On his part,  the Managing Director, GTI Securities Limited, Mr. Tunde Oyekunle, said the trading floor would be supported by a fully automated back-office as well as a high-end research and advisory department that would immensely benefit operators and investors.
 
He noted that with a robust trading facility that links both the NSE and the over-the-counter trading engines, GTI’s vision is to enhance financial inclusion and broaden access to Nigerians to participate in the capital market.

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