{"id":49746,"date":"2021-06-15T18:59:11","date_gmt":"2021-06-15T17:59:11","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=49746"},"modified":"2021-06-15T18:59:11","modified_gmt":"2021-06-15T17:59:11","slug":"ng-clearing-limited-becomes-nigerias-premier-central-counterparty","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/","title":{"rendered":"NG Clearing Limited Becomes Nigeria\u2019s Premier Central Counterparty"},"content":{"rendered":"

Nigeria\u2019s apex capital market regulator,\u00a0<\/span>the\u00a0<\/span>Securities and Exchange Commission (SEC) has granted NG Clearing Limited\u00a0<\/span>(NG Clearing) registration to perform the function of a central counterparty (CCP) with effect from 7th<\/sup>\u00a0June 2021.<\/span><\/p>\n

This registration now permits NG Clearing\u00a0<\/span>to clear and settle Exchange traded derivative products<\/span>\u00a0\u2013 making NG Clearing the first CCP in Nigeria.<\/span><\/p>\n

\"\"<\/p>\n

Speaking on the issuance of the license, the\u00a0<\/span>Chairman<\/span>\u00a0of<\/span>\u00a0NG Clearing, Mr. Oscar Onyema<\/span>, OON\u00a0<\/span>said\u00a0<\/span>\u201cNG Clearing will<\/span>\u00a0deliver an unparalleled CCP experience for the Nigerian financial<\/span>\u00a0and capital<\/span>\u00a0market<\/span>s and<\/span>\u00a0will optimize\u00a0<\/span>the\u00a0<\/span>deployment of its resources to achieve long-term value creation for its stakeholders using a state-of-the-art risk management framework, which complies with global best practices for mitigating settlement risk<\/span>\u201d<\/span>.<\/span><\/p>\n

He added\u00a0<\/span>that\u00a0<\/span>the company\u2019s main role\u00a0<\/span>i<\/span>s to improve the soundness and safety of\u00a0<\/span>the\u00a0<\/span>Nigerian financial market by delivering best-in-class post-trade services that manage counterparty credit risk and reduce systemic risk<\/span>\u00a0by<\/span>\u00a0interpos<\/span>ing<\/span>\u00a0itself as a guarantor to both parties in a transaction, thus ensuring the successful execution of derivatives and other trades from various trade points in Nigeria.<\/span><\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The\u00a0<\/span>Managing Director<\/span>\u00a0of<\/span>\u00a0NG Clearing, Mr. Tapas Das\u00a0<\/span>said\u00a0<\/span>\u201cNG Clearing shall be playing a key role in the financial market ecosystem in the region, upholding stability and safety of the marketplace, through efficient and timely settlement of derivative trades. The aim is to strengthen the country\u2019s investment environment through solutions that systematically reduce risks, enhance operating efficiency, and minimize costs for all market participants, thereby serving as a catalyst to national development<\/span>.<\/span>\u201d<\/span><\/p>\n

Mr. Das stated that the\u00a0<\/span>company has sufficient financial resources, including settlement guarantee fund, to cover participants\u2019 risk exposures<\/span>. He noted that members will have access to\u00a0<\/span>a wide range of financial reports that equip them with extensive knowledge and enable them make informed decisions<\/span>, as well as access to NG Clearing\u2019s bespoke clearing and settlement software application which 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

NG Clearing – Nigeria\u2019s premier CCP – was incorporated on May 24, 2016 to facilitate derivatives trading in the Nigerian Capital Market. The company\u00a0is promoted by the Nigerian Exchange\u00a0Group Plc<\/span>\u00a0and Central Securities Clearing System Plc\u00a0(CSCS)<\/span>\u00a0along with key stakeholders including Nigeria Sovereign Investment Authority (NSIA), Access Bank Plc, Consonance Kuramo Special Opportunities\u00a0Fund\u00a0<\/span>I, Coronation Merchant Bank Limited, Greenwich\u00a0Merchant Bank<\/span>\u00a0Limited, Union Bank of Nigeria Plc\u00a0(Union Bank)<\/span>, United Bank for Africa Plc\u00a0(UBA)<\/span>\u00a0and Association of Securities Dealing Houses\u00a0of<\/span>\u00a0Nigeria (ASHON).<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigeria\u2019s apex capital market regulator,\u00a0the\u00a0Securities and Exchange Commission (SEC) has granted NG Clearing Limited\u00a0(NG Clearing) registration to perform the function of a central counterparty (CCP) with effect from 7th\u00a0June 2021.<\/p>\n","protected":false},"author":6,"featured_media":49747,"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":[8724],"coauthors":[2391],"class_list":["post-49746","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-ng-clearing"],"yoast_head":"\nNG Clearing Limited Becomes Nigeria\u2019s Premier Central Counterparty - National Wire<\/title>\n<meta name=\"description\" content=\"Nigeria\u2019s apex capital market regulator,\u00a0the\u00a0Securities and Exchange Commission (SEC) has granted NG Clearing Limited\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NG Clearing Limited Becomes Nigeria\u2019s Premier Central Counterparty - National Wire\" \/>\n<meta property=\"og:description\" content=\"Nigeria\u2019s apex capital market regulator,\u00a0the\u00a0Securities and Exchange Commission (SEC) has granted NG Clearing Limited\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-15T17:59:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/06\/thumbnail-21.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"297\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/06\/thumbnail-21.jpeg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/06\/thumbnail-21.jpeg\",\"width\":400,\"height\":297},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/\",\"name\":\"NG Clearing Limited Becomes Nigeria\u2019s Premier Central Counterparty - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#primaryimage\"},\"datePublished\":\"2021-06-15T17:59:11+00:00\",\"dateModified\":\"2021-06-15T17:59:11+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"description\":\"Nigeria\u2019s apex capital market regulator,\u00a0the\u00a0Securities and Exchange Commission (SEC) has granted NG Clearing Limited\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NG Clearing Limited Becomes Nigeria\u2019s Premier Central Counterparty\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NG Clearing Limited Becomes Nigeria\u2019s Premier Central Counterparty - National Wire","description":"Nigeria\u2019s apex capital market regulator,\u00a0the\u00a0Securities and Exchange Commission (SEC) has granted NG Clearing Limited\u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/","og_locale":"en_US","og_type":"article","og_title":"NG Clearing Limited Becomes Nigeria\u2019s Premier Central Counterparty - National Wire","og_description":"Nigeria\u2019s apex capital market regulator,\u00a0the\u00a0Securities and Exchange Commission (SEC) has granted NG Clearing Limited\u00a0","og_url":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/","og_site_name":"National Wire","article_published_time":"2021-06-15T17:59:11+00:00","og_image":[{"width":400,"height":297,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/06\/thumbnail-21.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/06\/thumbnail-21.jpeg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/06\/thumbnail-21.jpeg","width":400,"height":297},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/","name":"NG Clearing Limited Becomes Nigeria\u2019s Premier Central Counterparty - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#primaryimage"},"datePublished":"2021-06-15T17:59:11+00:00","dateModified":"2021-06-15T17:59:11+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"description":"Nigeria\u2019s apex capital market regulator,\u00a0the\u00a0Securities and Exchange Commission (SEC) has granted NG Clearing Limited\u00a0","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-limited-becomes-nigerias-premier-central-counterparty\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"NG Clearing Limited Becomes Nigeria\u2019s Premier Central Counterparty"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/49746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=49746"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/49746\/revisions"}],"predecessor-version":[{"id":49749,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/49746\/revisions\/49749"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/49747"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=49746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=49746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=49746"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=49746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}