The Nigerian Exchange Limited's (NGX) trade execution standards for manually negotiated deals for fixed income securities have been approved by the Securities and Exchange Commission (SEC).
Retail and institutional investors can trade fixed income securities listed on The Exchange by the Federal Government of Nigeria, the States, Corporates, and Supranational issuers through the Fixed Income, or FI, market.
The NGX states that its "NGX On-Manual Negotiated Deal" uses best-in-class market infrastructure and utilises an integrated straight-through trading and settlement process without trade failures.
NGX further stated: “These Guidelines on Trade Execution via NGX On-Manual Negotiated Deal Window for Fixed Income Securities provide guidance to approved Trading License Holders for the use of the Neg-Deal Window to execute their trades on bilateral pre-agreed terms; and shall be read in conjunction with The Rules of The Exchange, and such other Rules or Guidelines as the Securities & Exchange Commission (SEC), NGX and other relevant regulatory authorities may introduce to regulate the fixed income securities market from time to time.’’