{"id":46185,"date":"2021-01-19T13:53:53","date_gmt":"2021-01-19T12:53:53","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=46185"},"modified":"2021-01-19T14:19:32","modified_gmt":"2021-01-19T13:19:32","slug":"ng-clearing-limited-acquires-clearing-settlement-technology-for-its-operations","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-acquires-clearing-settlement-technology-for-its-operations\/","title":{"rendered":"NG Clearing Limited, Acquires Clearing, Settlement Technology For Its Operations"},"content":{"rendered":"<p class=\"yiv2634819015MsoNormal\"><span lang=\"EN-US\">Following the receipt of an approval in principle from the Securities and Exchange Commission (SEC) in September 2020, to clear and settle exchange traded derivatives instruments, Nigeria\u2019s premier central counterparty, NG Clearing Limited, on Tuesday announced that it has signed an agreement with a leading software development firm, Mantissa Infotech Private Limited, for the development, implementation and maintenance of bespoke clearing and settlement technology for its operations.<\/span><\/p>\n<p class=\"yiv2634819015MsoNormal\"><span lang=\"EN-US\">Speaking on the development, the company\u2019s Managing Director &amp; Chief Executive Officer, Mr. Tapas Das, said: \u201cWe are very excited about this deal, as the deployment of the technology platform puts us in a position to commence operations as soon as we receive final approval from the SEC. The technology platform will support the clearing and settlement of derivative instruments across various asset classes i.e., futures and options contracts on indices, equity shares, commodities, currency, rates etc.<\/span><\/p>\n<p class=\"yiv2634819015MsoNormal\"><span lang=\"EN-US\">\u201cMantissa\u2019s vast experience and end-to-end capability in providing a suite of bespoke technology solutions to leading exchanges and clearing houses\u00a0<\/span>in India comes in very handy, having\u00a0<span lang=\"en-NG\">provided both the\u00a0<\/span><span lang=\"EN-US\">t<\/span><span lang=\"en-NG\">rading and the\u00a0<\/span><span lang=\"EN-US\">c<\/span><span lang=\"en-NG\">learing &amp;\u00a0<\/span><span lang=\"EN-US\">s<\/span><span lang=\"en-NG\">ettlement software for\u00a0<\/span><span lang=\"EN-US\">14 years to the\u00a0<\/span>National Multi-Commodity Exchange of India Limited (NMCEIL)<span lang=\"EN-US\">, which was\u00a0<\/span><span lang=\"en-NG\">the first national level\u00a0<\/span><span lang=\"EN-US\">c<\/span><span lang=\"en-NG\">ommodity exchange in India<\/span><span lang=\"EN-US\">, until\u00a0<\/span><span lang=\"en-NG\">NMCEIL was merged with\u00a0<\/span>Indian Commodity Exchange Limited (ICEX)<span lang=\"en-NG\">\u00a0in 2018<\/span><span lang=\"EN-US\">.<\/span><\/p>\n<p class=\"yiv2634819015MsoNormal\"><span lang=\"EN-US\">\u201cMantissa\u2019s broad experience from providing its technology service to various market infrastructure,\u00a0<\/span>including NMCEIL, Metropolitan Stock Exchange of India Limited (MSE), Metropolitan Clearing Corporation of India Limited (MCCIL) and ICEX<span lang=\"EN-US\">, has been beneficial in the development of the state of the art technology and we expect that our stakeholders will find the technology very versatile and useful.\u201d<\/span><\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv2634819015MsoNormal\"><span lang=\"EN-US\">NG Clearing Limited is\u00a0<\/span>promoted by The Nigerian Stock Exchange and Central Securities Clearing System Plc along with key stakeholders like the Nigeria Sovereign Investment Authority, Access Bank Plc, Consonance Kuramo Special Opportunities, Coronation Merchant Bank Limited, Greenwich Merchant Bank Limited, Union Bank of Nigeria Plc, United Bank for Africa Plc and Association of Securities Dealing Houses in Nigeria<span lang=\"EN-US\">.<\/span><\/p>\n<p class=\"yiv2634819015MsoNormal\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Following the receipt of an approval in principle from the Securities and Exchange Commission (SEC) in September 2020, to clear and settle exchange traded derivatives instruments, Nigeria\u2019s premier central counterparty, NG Clearing Limited, on Tuesday announced that it has signed an agreement with a leading software development firm, Mantissa Infotech Private Limited, for the development, implementation and maintenance of bespoke clearing and settlement technology for its operations.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":46186,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[8045,8046,7338],"coauthors":[2391],"class_list":["post-46185","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-clearing-settlement-technology","tag-ng-clearing-limited","tag-securities-and-exchange-commission"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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