{"id":54331,"date":"2021-12-04T18:05:08","date_gmt":"2021-12-04T17:05:08","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=54331"},"modified":"2021-12-04T18:05:16","modified_gmt":"2021-12-04T17:05:16","slug":"ng-clearing-sets-to-launch-as-west-africas-first-central-counterparty","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ng-clearing-sets-to-launch-as-west-africas-first-central-counterparty\/","title":{"rendered":"NG Clearing Sets To Launch As West Africa\u2019s First Central Counterparty"},"content":{"rendered":"

 <\/p>\n

The Nigerian financial services sector is agog as all is now set for the formal launch of NG Clearing Limited, the first central counterparty (CCP) in West Africa, on Thursday, 9 December 2021.<\/p>\n

The launch of NG Clearing precedes the trading of the first exchange-traded derivatives in the Nigerian Capital market and opens new opportunities for investors, stakeholders, and other players in Nigeria\u2019s capital market. As the premier CCP in Nigeria, NG Clearing will facilitate the clearing and settlement of exchange-traded derivatives, manage counterparty risk, reduce systemic risk, and promote the safety and integrity of Nigeria\u2019s capital market.<\/p>\n

Since its incorporation in 2016, NG Clearing has achieved many first-of-its-kind milestones. A major milestone is the development of a world-class clearing and settlement system to enable seamless and safe clearing of derivatives across multiple asset classes and trading venues. NG Clearing also obtained approval from the Securities and Exchange Commission to provide CCP services in Nigeria. Recently, as an affirmation of the Company’s global outlook, NG Clearing joined CCP12, the global association of central counterparties.<\/p>\n

Mr. Oscar Onyema, the Chairman of the Company\u2019s Board of Directors, enthused that NG Clearing\u2019s emergence as “a CCP in Nigeria and the first out of West Africa is an epochal achievement, one that all stakeholders should be proud of as it represents the maturity and transition of the Nigerian capital market to a new era of clear possibilities”.<\/p>

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Speaking of NG Clearing\u2019s role as a CCP, the Company\u2019s Chief Executive Officer, Mr. Tapas Das, noted that “across the world, CCPs have emerged to strengthen financial markets, propelling them to growth and reinforcing existing layers of market safety. We have left no stone unturned in ensuring that Nigeria’s first CCP is positioned to become the most trusted CCP in Africa.”<\/p>\n

As part of the build-up to the launch of NG Clearing, the Company has been engaging capital market stakeholders on derivatives clearing and settlement, and the role of a CCP. On the Company\u2019s engagement with stakeholders, the Chief Operating Officer, Mr. Ayokunle Adaralegbe, explained that “as a novel niche, we understand that there is a knowledge gap in the market and the core of our strategy is stimulating the market with high-level training sessions that demystify derivatives clearing.” He also noted that the Company will expand the training engagements to the public soon.<\/p>\n

The launch ceremony is a hybrid event (physical and virtual), and virtual participants can register ahead via https:\/\/bit.ly\/NG-ClearingLaunch.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Nigerian financial services sector is agog as all is now set for the formal launch of NG Clearing Limited, the first central counterparty (CCP) in West Africa, on Thursday, 9 December 2021.<\/p>\n","protected":false},"author":6,"featured_media":45868,"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":[],"coauthors":[2391],"class_list":["post-54331","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news"],"yoast_head":"\nNG Clearing Sets To Launch As West Africa\u2019s First Central Counterparty - National Wire<\/title>\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-sets-to-launch-as-west-africas-first-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 Sets To Launch As West Africa\u2019s First Central Counterparty - 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