shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » MELT DOWN: SEC list criteria for market makers

MELT DOWN: SEC list criteria for market makers

by Ade
January 19, 2009
in Uncategorized

The Nigerian Stock  Exchange (NSE) last week released the much- awaited guidelines fro companies wishing to become market makers in the sliding capital market.
The NSE has been battling with an extremely bearish market since last following global economic melt down, but the exchange’s director general,  Prof. Ndi Okereke-Onyiuke explained that the criteria is part of its recovery strategy.
A “market maker” is a stock market operator that is licensed by the NSE and registered by the Securities and Exchange Commission (SEC), to perform market -making activities on listed securities.
The guidelines further added that any prospective market maker must show evidence of proficiency in capital market activities be are ready to provide sustained quotes on specific stocks in which they wish to make market.
The NSE said an applicant must make market in at least three stocks across a minimum of two sectors. There shall not be more than three companies making markets in a stock at any time.
One of the criteria according to the NSE is to operate as a market maker, the company must be incorporated in Nigeria under the Companies and Allied Matters Act of 1990 and registered by the Nigerian Securities and Exchange Commission (SEC) as a market maker.
Such a company must have a minimum paid up capital of N2 billion, in addition to being able to maintain a minimum float of N10 billion at all times in addition to having a history of successful operations in the Nigerian stock market or any of the international stock markets.
The NSE also stated that a minimum quote size of 100,000 shares on both bid and offer would be required of a market maker and lastly, no market maker can make market in the shares of a company, which owns more than 29 per cent of its shares capital.


Related Posts

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

May 10, 2022
VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

April 29, 2022

‘Why I Pay More Attention To Rail Than Maritime Sector’- Rotimi Amaechi

September 27, 2021
ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

May 15, 2021

Discussion about this post

Latest News

Amidst Allegation of Fake Certificates in Circulation, NIMASA CoC Verification Portal Breaks down

Amidst Allegation of Fake Certificates in Circulation, NIMASA CoC Verification Portal Breaks down

May 16, 2022

Over 3000 Ex-Cadets Of MAN Oron With National Diploma Certificates Stranded, Unable To Further Their Studies

Despite LASG Suspension, Truckers Say Committee On Removal Of Abandoned Vehicles Still Operating Illegally

ANLCA Sues For Peace, Calls For Retreat To Reunite Association, Resolve Challenges

NPA To Concession Barge Operations, To Clampdown On Illegal Barge Owners

Automation Backbone Of Port Efficiency – NPA MD

High Cost Of AGO, Freight Rate Responsible For Fuel Scarcity In Abuja — Distributors

We’ve Paid Over N58b Bridging Claims To Oil Marketers – NMDPRA

Nigeria’s April Oil Output Drops 13.3 Percent to 1.3 Mbpd

FG Working To Improve West African Gas Pipeline Project Performance – Sylva

“Global West Vessel Specialist is not owned by Tompolo”

The Monster Of Extortion And Failure Of Traffic Control System In Apapa

kindly like our Facebook page

Health

What You Need To Know About Monkeypox
Health

What You Need To Know About Monkeypox

May 16, 2022

According to the latest Monkeypox situation report of the Nigeria Centre for Disease Control, Nigeria recorded 15 confirmed cases of...

Sleep Duration Of 7 Hours Optimal For Elderly – Study

Sleep Duration Of 7 Hours Optimal For Elderly – Study

May 16, 2022
COVID-19 On Increase In Americas, Africa – WHO

COVID-19 On Increase In Americas, Africa – WHO

May 9, 2022
‘65 Per Cent Of Africa’s Population Survived COVID-19’

‘65 Per Cent Of Africa’s Population Survived COVID-19’

May 9, 2022
Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

May 9, 2022
Some Things That Are Actually Damaging The Kidneys (2)

Some Things That Are Actually Damaging The Kidneys (2)

May 9, 2022

The World Of Vaccines, Before And After COVID

April 29, 2022
Only 29% Of Hospitalised COVID-19 Patients Make Full Recovery One Year On – Study

Only 29% Of Hospitalised COVID-19 Patients Make Full Recovery One Year On – Study

April 29, 2022
WHO Alerts Countries To Increase In Hepatitis Cases Of Unknown Origin

WHO Alerts Countries To Increase In Hepatitis Cases Of Unknown Origin

April 29, 2022
Some Things That Are Actually Damaging The Kidneys

Some Things That Are Actually Damaging The Kidneys

April 29, 2022
Nigeria Records Continuous Decrease In COVID-19 Cases, Deaths – NCDC

Nigeria Records Continuous Decrease In COVID-19 Cases, Deaths – NCDC

April 25, 2022

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition

No, thank you. I do not want.
100% secure your website.
Powered by EssentialPlugin