NASD is an acronym for National Association of Securities Dealers. It is focused on providing a technologically driven trading platform where shares of companies not listed on the Nigerian Stock Exchange (“NSE”) are traded.
Yes, NASD is primarily regulated by the Securities & Exchange Commission (“SEC”) and it is also a self-regulatory organization just like the NSE.
The NSE provides the platform for trading on quoted securities while NASD only deals with un-quoted securities.
An OTC (over-the-counter) market is an off exchange market which trades unlisted securities.
Yes, an account has to be created and domiciled with your stockbroker who is registered by NASD as a participant on the OTC market. Also at CSCS, a different account for OTC securities will be opened for your OTC trades.
Transactions settle on T+3 basis, just like on the NSE.
The charges above are exclusive of stamp duty and VAT.
N4.00 is charged for sms per deal
No. Before any un-quoted security can be traded, the Company must have met the following eligibility criteria: