Nigerian Exchange Ltd. (NGX) on Tuesday lauded the Association of Securities Dealing Houses (ASHON) for enhancing professionalism and ethical conduct in the market.
The Chairman of NGX, Dr Umaru Kwairanga, said this at the closing Gong ceremony and celebration of the return of members of ASHON to the trading floor of NGX.
Kwairanga was represented by the Director, Board of NGX, Mr Kamarudeen Oladosu.
He noted that the contribution of ASHON was remarkable to maintaining a dynamic, responsive and vibrant capital market that had sustained service delivery to stakeholders and value to the investing public.
The NGX chairman commended the strategic role the association played in providing professional guidance and enforcing ethical standards to guide the stockbroker community.
“We are confident that today’s event would provide an opportunity to renew our partnership, strengthen our relationship and explore new areas of collaboration that is both mutual and beneficial,” he said.
According to him, members of the association have raised the standards of skills and qualifications, as well as enhance trust in the financial services sector.
Kwairanga lauded past presidents of the association for their significant contribution to the capital markets, which have sustained the association on the path of growth and expansion.
He noted that the NGX Group would continue to foster partnership that would be beneficial to the capital market.
The CEO of NGX, Mr Temi Popoola, also said that the level of professionalism and ethical conduct in the capital market had significantly measured up to global standards since ASHON was established in 2006.
Popoola stated that the association was established as a national trade group of all dealing members of the now demutualised Nigerian Stock Exchange (NSE).
Responding, Chairman of ASHON, Mr Sam Onukwue, commended the operation of NGX, while noting that the return of full trading activities to the floor of the Exchange was important.
Onukwe stated that this would rekindle relationships and consolidate the professional traits, characterised by the noble profession.
“The trading floor was the temple of capitalism that provides veritable opportunities to dissect social and economic events.
“This was the reason why exchanges like the New York Stock Exchange and others retain trading floors.
“ASHON and the stockbroking community would continue collaborating with NGX on growth initiatives.