Following its plans to further deepen the Nigerian capital market and provide the much needed liquidity, the Nigerian Stock Exchange (NSE) has introduced five new tradable indices.
The new indices were highlighted on the Daily Official List of the NSE last week. The new indices, according to the NSE are: The NSE 30 index, NSE Banking 10 Index, NSE Insurance 10 Index, NSE Food! Beverage 10 Index, NSE Oil/Gas Five Index.
The introduction is seen as a fulfilment of the promises made by the Director-General of the exchange, Professor (Mrs.) Ndi-Okereke Onyiuke while reviewing the market performance for 2008 and giving a preview of 2009,
At the interaction, she had giving an idea of the innovations to include: the Exchange Traded Funds, Mortgage-Backed Securities, Asset-Backed Securities among others.
“In 2008, work continued in the effort to deepen the Nigerian capital market by creating new products. Some of the new products considered by the NSE include: Exchange Traded Funds, Mortgage-Backed Securities, Asset- Backed Securities. As parts of effort to expand the product range, we have created five new tradable indices, which would be launched in the first quarter of 2009.”