ONLY 1.69% NIGERIAN INVESTORS SUBSCRIBE TO MARKET DATA

Presently, Nigerian investors are yet to key in fully to data generated at the Nigerian stock exchange daily.

According to Mr Ade Bajomo Executive director market operations and technology, of the estimated 5.9m investors in Nigeria, only about 100,000 or 1.69% subscribe to market data accessible on line and by choice, real time.

Bajomo, while speaking during the recent inaugural market data workshop in Lagos, however informed the participants that this was not the lowest percentage patronage.

From the figures he released, listed companies are even less inclined to subscribe to market data adding that of the 171, 1.17% subscribed.

He had separate figures for banks and insurance companies though. Among the 43 insurance companies, he said, only one or 2.33% currently subscribed to market data.

In the case of 21 banks, he said only 6 or 28.6% now subscribe.

However, naturally, stock brokers are well keyed to market data generated as of the 205 in operation, 174 or 84.9% have subscription. This is the highest percentage patronage so far, from the Bajomo figures.

Next are software vendors of which 15 out of the 20 operating or 75% were on the NSE subscription list.

Market data vendors too chip in good patronage with 58.8% or 10 out of 17 on the list.

Yet, like Nigeria's statistician general/ CEO of National Bureau of Statistics, Dr Yemi Kale reminded participants in his keynote address:

" The important role that accurate, timely and reliable data plays whether in setting up or expanding a business or in the policy making process or for taking portfolio or direct investment and capital market decisions is well known..."

The relatively low market data patronage could be because many are not in a hurry or equipped to get and use the data and so, for them the free access to delayed daily statistics and searchable companies' data most of it downloadable, is good enough.

It could also do with the asking price which for real time volume and value data etc go for between N35,000 and N120,000 per annum payable in advance.

For N55000 one off payment, though, one could access query engine  for historical data on traded volume, value, prices including high and low and market capitalisation.

On can also subscribe to report notification as data are released on the market particularly company results and news and daily and weekly summaries.

For companies that like to display real time issuer price on their websites, N310,000 per annum payable in advance will guarantee that with delayed release costing less at N196,000 and end of day release going for N165,000 per annum.

Finally, for real time all data feed straight from the market, N1.2m per annum is needed.

However, in view of fluctuating exchange rates, most of the market data asking prices have US dollar values.

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