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The Nigerian Stock Exchange
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Equities
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Equities Market Structure
Equities
Equities Overview
Equities Market Making
Equities Market Structure
Currently selected
Real Estate Investment Trusts (REITs)
Market Quality
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Page Content
EQUITIES MARKET STRUCTURE
The Nigerian Stock Exchange (NSE) operates an Automated Trading System (ATS) platform with a central order book that allows Dealing Members to participate on equal terms, competing on the hierarchical basis of Price, Cross and Time priority. The Exchange runs a hybrid market, allowing Dealing Members to submit orders and Market Makers to submit two-sided quotes into the order book.
Click here to view Frequently Asked Questions further to the enhancements made to the equities market structure announced by the Exchange.
Equities Trading Manual and Market Model of The Nigerian Stock Exchange
Trading schedule
Market hours: 9.30 to 14.30
SESSION
TIME
BOARDS
ORDER TYPE
ORDER DURATION
PRICE LIMIT
Pre-Open
9:30
EQTY
ASeM
Premium
Limit Quotes
Good Till Open
Good Till Date
Day
+/-10%
Pre-Open IO
9:55
EQTY ASEM
Premium
Imbalance
Session
Continuous Trading
10:00
Limit
Market
Crossing
EQTY
ASeM
Premium
Negotiated
Private
FAK
FOK
AON
Immediate
Day
Good Till Date
Q
uo
tes
Pre-Close
Pre-Close
14:20
EQTY
ASeM
Premium
Market
Limit
Quotes
Good Till Close
Good Till Date
Day
Pre-Close IO
14:25
EQTY
ASEM
Premium
Imbalance
Session
Close
14:30
EQTY ASeM Premium
-
-
Click here to download the Equities Market Structure.
Trading fees
FEES TYPE
BUY SIDE
SELL SIDE
NSE FEE
–
0.3%
CSCS FEE
–
0.3%
TRADE ALERT FEE
N4.00
N4.00
SEC FEE
0.3%
–
STAMP DUTY
0.08%
0.08%
OTHERS: BROKERAGE COMMISSION
0.75 - 1.35%
0.75 - 1.35%
VAT
(7.5% of Brokerage Fees)
(7.5% of NSE + CSCS + Brokerage Fees)
MARKET QUALITY REPORT
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TRADING STATISTICS
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