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Wednesday, February 27, 2008

Progenics delivers on ‘Osha electronic trading floor

Indigenous Information Technology (IT) integrator, Progenics Corp Limited, has achieved another feat with the successful commissioning of the Nigerian Stock Exchange (NSE) automated trading floor at the biggest market in West Africa, Onitsha in Anambra State.

This brings to 11th branch being powered barely a month after the completion and commissioning of 10th branch.

Speaking on the latest commissioning, chief executive of Progenics Corp Limited, Mr. Tony Udoh, said that his firm delivered on time for the take off of the Onitsha electronic trading floor.

He also reaffirmed his firm’s commitment in deploying all of its resources to ensure that the Onitsha branch of the exchange as well as the existing 10 other branches have 100 per cent uptime and support.

“This occasion is very significant because with the NSE very much on course to integrate its electronic/automated floor to other active exchanges in the continent, investors here in Onitsha will be able to do business with as many economies as possible on the continent and world as it will make it possible to have cross-listings in various exchanges, and with Progenics here in Nigeria, support for the floors across the country will never be a problem,” he asserted.

For the director general (DG) NSE, Prof. Ndi Okereke-Onyiuke, with a plethora of medium and large scale business concerns within and around Onitsha in particular and the Eastern region in general, there is a need for these businesses to start benefiting from the gains of patronizing the capital market and having access to investment opportunities throughout the country.

According to her, based on the realization that the automated trading floor is designed to allow investors and shareholders have access to investment information on an online and real-time basis.

“The strength of this new trading floor is that anybody trading in Onitsha will have access to all the activities simultaneously with that of the main trading floor in Lagos as well as other branches of the exchange”, she declared.

Commending the management of NSE for ensuring the speedy implementation of the new branch in Onitsha, the Anambra State Governor, Mr. Peter Obi promised the involvement of his administration in ensuring that the new trading floor of the exchange never lacks of any facility that will sustain it.

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