The Nigerian Exchange Group (NGX) has finally concluded the journey of several years by launching derivatives as another asset class available to be traded on the floor of the exchange. Derivatives were first put forward as an asset class in discussions with the NGX (then known as the NSE) as far back as 2014. The derivatives product was finally launched on the floor of the exchange on the 14th of April 2022.
Leading up to the launch, Neulogic, working with the dedicated team at the NGX and also with the leading central counterparty in Nigeria, NG-Clearing, have developed and deployed a brand new derivatives module that integrates tightly with the existing securities trading module as well as our Trade-X Order Management System (OMS). As a result of this, we now offer all our clients the opportunity to be a part of this nascent market.
The Symplus derivatives module has already gone through the test suite prepared by the NGX, covering trading and risk management and passed with flying colours.
The Symplus derivatives module also includes advanced interfaces to our General Ledger and Customer Accounting modules, and this ensures that all risks associated with trading with derivatives are monitored in real-time. and restrictions are in place to curtail overtrading. All contracts are marked to market for real time valuations and risk management.
If you want to know more about how Symplus can propel your business forward in the Derivatives Trading space, contact us and we will be happy to discuss your goals in this or any of the many other areas where we provide advanced financial solutions.