Nigeria bourse deploys X-Mobile, intensifies digitization of operations

Omobayo Azeez

The Nigerian Stock Exchange (NSE) has intensified its drive to digitize operations on the nation’s bourse with the launch of X-Mobile, a dynamic and user-friendly mobile app.

According to the NSE, the X-Mobile is designed to provide market participants, especially retail investors, convenient, faster and real-time access to its activities.

The management of the local bourse said in a press release on Tuesday that the app features market snapshots, stock prices, market analytics, financial news, dealing members directory and trade simulation.

Speaking on the launch of X-Mobile,Jude Chiemeka, the divisional head, trading business, NSE, noted that the delivery of the NSE mobile app is consistent with NSE’s intent to leverage on the Fourth Industrial Revolution (4IR) and the era of digitization to enhance the operation of the market.

“The introduction of X-Mobile is part of our engagement strategy with existing and potential investors who now have increased thirst for data and detailed disclosure information to make sound investment decisions. This is one of the ways we are contributing to the attainment of Nigeria’s National Financial Inclusion Strategy of reducing the proportion of adult Nigerians that are financially excluded to 20 percent in the year 2020,” he said.

While stating that the app would support the NSE’s efforts at promoting financial literacy and inclusion by bringing the capital market to the fingertips of market enthusiasts and spark new interest for potential investors, Chiemeka added that with X-Mobile, users can create personalized watch lists to keep track of chosen securities, eliminating the need to access multiple information sources.

According to him, X-Mobile is available free of charge on Google Play store for download for Android smartphones. The IOS version is now in the testing phase.

“X-Mobile will complement the NSE website and other NSE portals currently being used to provide information to market stakeholders. We will continue to leverage technology with a customer-centric focus to make financial services more inclusive and to provide a superior customer experience in the access and use of capital,” Chiemeka added.

On his part, Okon Onuntuei, the head of strategy and research at the NSE, described the app as “one of many ways of reaching ambitious goal to enlighten 25 million retail investors in Nigeria and diaspora.

“We believe this platform will become the primary interface for Nigerians to stay abreast of global market trends and domestic economic performance, as well as provide continuous insights to opportunities for portfolio rebalancing,” he said.

The NSE mobile app, which is currently in its Beta state, will be launched at the 2019 NSE Market Data Workshop taking place on Wednesday, September 11, 2019 (today), at Harbour Point, Victoria Island, Lagos.