The Nigerian Stock Exchange (NSE) reduced of the cost of its Trade Alert service by about $7.54 million by dismissing the current charge of 0.06% of every trade on the exchange. It will also introduce an enhanced notification service, X-Alert, which will be charged at a flat rate of $0.04 per transaction.
Ade Bajomo, NSE Executive Director of Market Operations, noted that the enhanced X-Alert is a service that will allow the investing public know when a transaction has been made on their account. “Each time investors buy or sell a security, an alert is sent to them via a text message to the recipient’s mobile phone or via an e-mail to the recipient’s mailbox. So what that does is to bring real time notification plus transparency to the market at market rates while safeguarding against unauthorized sale or purchase of securities,” he added.
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