NAIROBI, Kenya, Oct 16–The Nairobi Securities Exchange has admitted EGM securities as a trading member of the NSE derivatives market starting yesterday.
The admission follows EGM Securities’ satisfaction of the licensing and operating requirements of a derivatives broker as stipulated under the Capital Markets, Derivatives Markets Regulations, 2015.
The admission will enable NSE to increase its client base by leveraging on EGM securities’ extensive footprint across key markets in Africa and globally.
It also makes EGM securities the first non-trading market participant to join the NSE derivatives market bringing the total number of active derivatives brokers to eight.
“The admission of EGM Securities is in line with our focus to enhance retail participation in the NSE Derivatives Market. This strategic partnership will enable us to increase our customer touchpoints as well as offer an alternative investment product to the growing retail investors focused on online trading,” said NSE Chief Executive Officer Geoffrey Odundo.
“We are honored and delighted to be part of this partnership with the Nairobi Securities Exchange. Our admission as a trading participant in the NSE Derivatives Market will offer both our platform’s local and overseas users an opportunity to participate in one of the leading securities exchanges in Africa. Our clients will be able to benefit from price movements in blue-chip equities and the NSE 25 Share Index, and we are thrilled to create exciting opportunities for investors considering East Africa as the destination for their capital,” said EGM Securities Chief Executive Officer Samwel Kiraka.
EGM Securities, a well-established non-dealing forex online broker regulated by the Capital Markets Authority, will now be able to onboard on-shore exchange-traded derivatives products to its clients, execute trades as well as market the NSE products to its wide array of retail offshore investors.