Nigerian stock exchange commences X- academy

Posted on June 13, 2017
L – R shows Gilles Kolifrath, Partner, Kramer Levin Naftalis & Frankel, ISDA Member; Irene Robinson-Ayanwale, Head, Legal Department, The Nigerian Stock Exchange (NSE); Abimbola Ogunbanjo, 1st Vice President, NSE; Marilyn Ramplin, Founder, Novia One Group, incorporating Hedge Fund Academy and Haruna Jalo-Waziri, Executive Director, Capital Markets Division, NSE, at the NSE X-Academy Training on “Legal and Risk Aspects of Derivatives & Clearing Central Counter Party Transactions” at Civic Centre, Victoria Island, Lagos on monday.
L – R shows Gilles Kolifrath, Partner, Kramer Levin Naftalis & Frankel, ISDA Member; Irene Robinson-Ayanwale, Head, Legal Department, The Nigerian Stock Exchange (NSE); Abimbola Ogunbanjo, 1st Vice President, NSE; Marilyn Ramplin, Founder, Novia One Group, incorporating Hedge Fund Academy and Haruna Jalo-Waziri, Executive Director, Capital Markets Division, NSE, at the NSE X-Academy Training on “Legal and Risk Aspects of Derivatives & Clearing Central Counter Party Transactions” at Civic Centre, Victoria Island, Lagos on monday.

 

The X academy, a knowledge-platform designed to provide education services to individuals for better understanding of various aspects of the capital markets, has commenced.
The event which gathered experts knowledgeable in the legal aspect of the capital market, dealt extensively on legal and risk aspects of derivatives and central counterparty Clearing CCP transactions.
The first vice president of the Nigerian Stock Exchange, Mr. Abimbola Ogunbaji who gave the opening speech/keynote address said “The concept of derivatives remains relatively novel in the Nigerian financial market space and has only been noticeable within the Over-The-Counter (OTC) segment of the market.”
Ogunbajo explained that “the frontiers of the Nigerian financial market is expected to grow exponentially due to enhanced liquidity arising from the development of new and intricate financial instruments. Given the open and transparent financial market place the NSE offers to a wide range of domestic and international investors, it is expected that all participants must have the commensurate capacity and knowledge-base to deal with the intricacies and the sometimes esoteric features of derivatives. Accordingly, the need for this training in the face of the dearth of local capacity cannot be overemphasized. “
He said “this is the first training of many others, which we will continually promote to enhance Nigeria’s global positioning as a thought leader in the African derivatives space.”
Resource persons at the event include; Founder of Novia One Group from South Africa, Marilyn Ramplin who taught on the basic concept of derivatives; Partner, Kramer Levin Naftalis & Frankel, Gilles Kolifrath who spoke on the role of the lawyers in derivatives and CCP Transactions and Principal at ODITAH, Legal Practitioners & Arbitrators Nigeria, Professor Fidelis Oditah QC, SAN who spoke on litigations/disputes in derivatives and CCP Transactions.
The event also featured a panel discussion on the types of derivatives needed in the Nigerian Capital Market and possible litigations/ disputes that could rise.
This session was anchored by Principal Partner, Austeen Peters & Co, Dr, Timi Austeen Peters.
The four-day event which started today, continues tomorrow 13th through 15th of June, 2017 at the Civic Center, Lagos with more lectures that will focus on other areas of the market, including the OTC Derivatives,ETDs and Central counterparties.
Source: FG