Nigerian Exchange Limited (NGX) has announced that the Securities and Exchange Commission (SEC) has given the approval for the launching of seven derivatives contracts in the market. The Derivatives contracts approved are Access Bank Plc Stock Futures, Guaranty Trust Bank Plc Stock Futures, Zenith Bank Plc Stock Futures, Dangote Cement Plc Stock Futures, MTN Nigeria Communications Plc, NGX 30 Index Stock Futures, and NGX Pension Index Futures.
Prior to the Derivatives contracts approval, NG Clearing has successfully been registered by SEC, as a premier Central Counterparty. Thus, these approvals show that NGX is closer in achieving its aim of launching West Africa’s first Exchange Traded Derivatives.
