The Nigerian Stock Exchange (NSE) has upgraded its Issuers’ Portal (X-Issuer) as part of efforts to improve continuous and direct flow of information from quoted companies to the investing public.
X-Issuer, which was first launched in 2013, is a secure web-based portal designed to enable companies conveniently file information in an electronic format to the Exchange.
It is a key regulatory initiative of the NSE, developed to ensure electronic delivery of companies’ mandatory filings and other information in a structured and continuous manner to capital market stakeholders.
The enhanced X-Issuer comes with modern layout, improved functionalities and new user-friendly features to further enhance the compliance and regulation experience of Issuers.
Some of the new features include the release calendar module to allow issuers proactively file corporate actions and upcoming meetings; and an information channel for fund managers to share information about their funds.
NSE Chief Executive Officer, Mr. Oscar Onyema, said the upgrade affirmed the Exchange’s commitment to eliminating information asymmetry in market and protecting investors.
According to him, the X-Issuer has been enhanced to ensure that investors, analysts and other stakeholders are better able to evaluate data in an accurate, timely and more efficient manner.
“We are positive that the improvements we have incorporated will achieve greater transparency, integrity and accountability in our capital market; facilitate informed investment decision-making while providing an enhanced experience for issuers,” Onyema said.
Executive Director, Regulation Division, NSE, Ms. Tinuade Awe noted that the NSE understands the importance of information in driving a vibrant capital market.
“ As such, we are pleased to introduce the revamped X-Issuer to the market with its new features that will enable easy, convenient and more reliable submission and dissemination of company information, corporate actions, directors’ and insiders’ share dealing information, financial statements, earnings forecasts, meeting notices, and much more.’’
We believe that the upgraded X-Issuer will further enhance the experience of issuers and expedite the discharge of post-listings obligations in a cost-effective and efficient manner,” Awe said.
She assured that the Exchange remains committed to investing in business innovation and technological enhancements that will enable it to meet the needs of its stakeholders especially as it transits to a world of reduced physical interactions.