Wednesday, November 21, 2007

Progenics delivered on schedule – Udoh

Progenics Corp Limited has said that it delivered on schedule for the automation of the trading floor of the Nigerian Stock Exchange (NSE) in Lagos.

A press statement from Progenics Corp Limited, quoted the Chief Executive, Mr. Tony Udoh, as saying that delivering on the highest level was remarkable in the essence that the achievement of fully automated NSE floor was made possible using the competence and skills of a Nigerian Information Technology (IT) integration company based on Progenics Corp Limited input.

He recalled that recently a unique history was made as the Nigerian capital market industry officially unveiled its world-class automated trading floor in Lagos, just as the feat, was described by the President, Alhaji Umaru Musa Yar’adua as “an indication and confidence boost that the stock exchange is a key tool in the building of our economy.”

According to him, for a project that started less than two years ago, the NSE automated trading floor project was a true test of the technological competence of Progenics.

“As the company was not only able to deliver on schedule, it also made it possible to automate about four branches of the Stock Exchange in Abuja, Benin, Ibadan and recently Uyo with others coming up,” he said.

Mr. Udoh equally recalled that NSE recently launched an aggressive plan to re-engineer the trading floor to make use of the most sophisticated technology of the time in order to enhance the quality, capacity, efficiency and productivity of virtually every aspect of trading floor activities.

The aim, he pointed out was to remodel the market to compete with the New York Stock Exchange and other leading global economies, where technology plays major roles at the trading floor.

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