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The Nigerian Stock Exchange is Nigeria’s premier venue for buying and selling tradable securities, including stocks, bonds, and exchange-traded funds (ETF).

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But the NSE is more than just a ‘venue’. Thanks to technology, stockbrokers can trade stakes in 168 of Nigeria’s biggest companies, from wherever they are. Trading now extends well beyond the confines of the bourse’s physical location in Lagos. In 2019, the NSE launched the X-Mobile app. It’s a tool that gives the general public—and, crucially, investors –access to information about the goings-on in the stock exchange. With it, they can stay updated about the performance of stocks, market-moving news, and other relevant data. The introduction of the X-Mobile app is one of the more recent ways in which the exchange has leveraged technology to its advantage. This effort goes back to 1999 when the NSE began using an Automated Trading System (ATS). In 2013, the exchange also launched the X-Gen platform which allows institutional and retail players to engage in electronic trading. Described by its creators as a “personal companion on the NSE,” the X-Mobile app provides its users with real-time data on Nigerian equities, bonds, and ETFs. With it, they can track the present and historical performance of individual company stocks, and compare these with similar data from other listed firms.

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Investors can also get news about significant corporate actions and developments in the world of finance. The app’s users get notifications when there are changes to the price trajectory of stocks they’re interested in, and when new products are introduced to the NSE. Persons who may be considering investing in the stock exchange may also check the market’s performance over time by reviewing its historical performance. Another feature built for prospective investors is the NSE Simulator, with which they can learn how the stock exchange works. There are no charges for using the X-Mobile app. But intending users do have to register on the platform to access its features. Since its first release in 2019, the app has undergone a number of updates, all aimed at improving its functionality. NSE’s X-Mobile app can be downloaded from the Google Play store. Featured Image Source: Google Play

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This article was first published on 7th March 2021

ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.