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.

 

Buy ({7356220fec360f1fdc7929feafab173571ece009a97c080b5eec6e8a3b92b9fe})

Sell ({7356220fec360f1fdc7929feafab173571ece009a97c080b5eec6e8a3b92b9fe})

CSCS Fee

0.00

0.20

SEC Fee

0.20

0.00

NASD

0.25

0.25

Brokerage Commission

1.35

1.35

Total

1.80

1.80

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:

  1. The Company must have been in operation for a year.
  2. It must be a public company or be held by more than 50 beneficial owners.
  3. The security must be registered with SEC
  4. The security must be freely transferable.
  5. It must not have any legal or regulatory restriction that prevents it from being traded in the market.

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