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Wednesday, January 23, 2008

Ayedu expresses confidence in Progenics

Manager of the Ilorin automated trading floor in Kwara State, Mr. Fola Ayedu, has expressed confidence on the technical capability of the branch based on Progenics Corp integration and ability to deliver.

Speaking on the newly commissioned trading floor, Mr. Ayedu said that the exercise would bring immense change to the capital city, Ilorin and its environs, as investors would have the opportunity of trading simultaneously with the Nigerian Stock Exchange (NSE) Lagos trading floor, online real-time.

Ayedu, who is the erstwhile manager of the NSE Ibadan branch, reiterated his confidence on the technical know-how of the integrators, Progenics Corps, hence, he did not anticipate any technical-related hitches.

“We don’t anticipate any form of technical setbacks mainly because the company, Progenics, that handled the technological aspect of the automation of the floor has been wonderful and their skill is not in doubt” he asserted, stressing that Progenics has become an ally of NSE over the years, mostly in delivering perfect automation.

Progenics, he pointed out, has handled projects for the exchange and has never had problems and even when it does, they are always there to attend to it.

He also commended the efforts of Progenics Corp Ltd, for handling all the exchanges’ technological solution so far, including the complete automation of the main exchange floor in Lagos.

Also speaking, the managing director, Progenics, Mr. Tony Udoh said that though challenges crop up occasionally, his company has the manpower and skill that it takes to overcome them.

“Progenics has now sited its presence conveniently that it would be able to service the NSE anywhere in the country,” he said, stressing that the software, communications and network systems are the backbone of the automation project.

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