Microstructure Change and the Effective Trading System: The Nigerian Experience

α
Dr. Kehinde James Sunday
Dr. Kehinde James Sunday
σ
Ishmael Omah
Ishmael Omah
ρ
Moruf  Oladimeji
Moruf Oladimeji
α Lagos State University Lagos State University

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Microstructure Change and the Effective Trading System: The Nigerian Experience

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Abstract

The Nigerian stock market have operated using the call-over system since inception, however, the call over system of trading was effective in handling the for few market transaction of the time. The emergence of a large trading facility as a result of the privatisation and the commercialisation of the hitherto government stock made the system feeble and unable to handle large transaction in the market, thus, necessitating the macrostructure change to the Automated Trading System (ATS) in 1999. Survey method using structured questionnaire was adopted for the study. It was revealed that the ATS was an effective trading system. The system brings about an efficient settlement system and foster new trading opportunities. It was recommended that to reduce human interference in the market further internationalisation of the market should be encouraged.

References

9 Cites in Article
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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

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No ethics committee approval was required for this article type.

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How to Cite This Article

Dr. Kehinde James Sunday. 1970. \u201cMicrostructure Change and the Effective Trading System: The Nigerian Experience\u201d. Global Journal of Management and Business Research - A: Administration & Management GJMBR-A Volume 12 (GJMBR Volume 12 Issue A10): .

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Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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The Nigerian stock market have operated using the call-over system since inception, however, the call over system of trading was effective in handling the for few market transaction of the time. The emergence of a large trading facility as a result of the privatisation and the commercialisation of the hitherto government stock made the system feeble and unable to handle large transaction in the market, thus, necessitating the macrostructure change to the Automated Trading System (ATS) in 1999. Survey method using structured questionnaire was adopted for the study. It was revealed that the ATS was an effective trading system. The system brings about an efficient settlement system and foster new trading opportunities. It was recommended that to reduce human interference in the market further internationalisation of the market should be encouraged.

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Microstructure Change and the Effective Trading System: The Nigerian Experience

Dr. Kehinde James Sunday
Dr. Kehinde James Sunday Lagos State University
Ishmael Omah
Ishmael Omah
Moruf  Oladimeji
Moruf Oladimeji

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