NSE to begin securities lending 31 August 2011Lagos Reporter: Anna Reitman
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The Nigerian Stock Exchange (NSE) has "concluded arrangements" to begin securities lending and short selling activities, according to Nigerian media.
Oscar Onyema, NSE CEO, said the exchange is collaborating with industry participants to ensure a "smooth take off" of the proposed initiatives, writes The Moment.
Traders only make money in Nigerian market today when the market goes up, the on-line newspaper quotes Onyema as stating, but that participants should be able to make money whether the market is up or down if they begin short securities.
Onyema also promised that his management would encourage and support the introduction of hedge funds into the Nigerian capital market.
The Moment also reported international investment interest from UBS Wealth Management amid a campaign to attract foreign participation in NSE.
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