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7UP 50.00 0.00    ABCTRANS 0.99 -0.01    ACADEMY 1.79 0.00    ACCESS 11.28 0.08    AFRIPRUD 1.73 -0.01    AGLEVENT 1.70 0.04    AIICO 0.90 -0.01    AIRSERVICE 4.50 0.00    ASHAKACEM 27.00 2.45    ASOSAVINGS 0.50 0.00    BERGER 8.25 0.00    BETAGLAS 10.00 0.00    CADBURY 53.35 4.85    CAP 62.51 0.00    CAPOIL 0.50 0.00    CCNN 10.30 0.40    CHAMPION 4.78 0.00    CHELLARAM 4.89 0.00    CILEASING 0.50 0.00    CONOIL 24.00 0.00    CONTINSURE 1.29 0.09    CORNERST 0.50 0.00    COSTAIN 1.24 0.11    COURTVILLE 0.77 -0.08    CUSTODYINS 1.57 -0.09    CUTIX 2.12 0.04    DAARCOMM 0.50 0.00    DANGCEM 186.00 2.00    DANGFLOUR 9.20 0.00    DANGSUGAR 8.61 0.14    DIAMONDBNK 7.10 0.09    DNMEYER 1.86 0.00    DUNLOP 0.50 0.00    ETERNA 3.90 -0.09    ETI 15.35 0.00    ETRANZACT 3.47 0.00    EVANSMED 2.37 0.21    FBNH 18.76 0.06    FCMB 5.08 0.08    FG9B2017S2 113.60 3.15    FIDELITYBK 3.10 0.00    FIDSON 1.78 -0.05    FLOURMILL 85.65 -0.35    FO 14.00 -0.24    FORTISMFB 6.60 0.60    FTNCOCOA 0.50 0.00    GLAXOSMITH 52.90 3.90    GUARANTY 28.00 0.50    GUINNESS 280.00 0.00    HMARKINS 0.50 0.00    HONYFLOUR 3.00 0.00    IKEJAHOTEL 0.80 -0.02    INTBREW 28.50 0.25    INTERLINK 4.90 0.00    IPWA 0.63 0.00    JAPAULOIL 0.56 0.01    JBERGER 55.00 -1.00    JOHNHOLT 1.69 0.01    JOSBREW 1.23 0.03    JULI 2.14 -0.23    LEARNAFRCA 1.65 -0.15    LIVESTOCK 3.40 -0.05    MANDRID 5.94 0.00    MANSARD 2.30 0.00    MAYBAKER 2.20 0.04    MCNICHOLS 1.57 0.00    MOBIL 118.00 4.00    MRS 18.00 0.00    NAHCO 7.13 0.12    NASCON 12.48 0.45    NB 173.03 -1.97    NEIMETH 0.80 0.05    NEM 0.80 -0.01    NESF 552.20 0.00    NESTLE 963.00 0.00    NEWGOLD 2125.00 26.00    NIGERINS 0.50 0.00    NIWICABLE 0.50 0.00    NNFM 25.91 0.00    NPFMCRFBK 1.18 -0.01    OANDO 15.65 0.31    OKOMUOIL 51.80 0.00    OMATEK 0.50 0.00    PAINTCOM 1.54 0.00    PRESCO 30.00 0.02    PRESTIGE 0.62 -0.03    PZ 54.50 1.85    REDSTAREX 4.51 -0.19    REGALINS 0.50 0.00    RESORTSAL 0.50 0.00    ROADS 10.07 0.00    ROYALEX 0.54 -0.02    RTBRISCOE 1.62 -0.18    SKYEBANK 5.09 0.07    SOVRENINS 0.50 0.00    STANBIC 15.25 0.05    STERLNBANK 2.85 -0.05    TOTAL 170.00 11.10    TOURIST 4.08 -0.45    TRANSCORP 1.21 0.02    TRIPPLEG 2.29 0.00    UAC-PROP 16.00 0.00    UACN 70.68 0.06    UBA 7.78 0.00    UBCAP 1.29 0.01    UBN 9.35 -0.35    UNILEVER 76.00 0.00    UNITYBNK 0.67 0.03    UNITYKAP 0.50 0.00    UPL 5.49 -0.15    UTC 0.75 0.00    VITAFOAM 3.30 0.15    WAPCO 95.52 0.42    WAPIC 0.94 -0.07    WEMABANK 1.12 -0.07    ZENITHBANK 22.10 0.27   
Skip Navigation LinksHome > Regulation > Broker-Dealers > Overview

​Overview

Membership is granted to broker-dealers to enable them use the services of the Nigerian Stock Exchange (NSE). Broker-dealers must meet specific requirements set by the NSE to receive a dealing member license.
 
These requirements are detailed in the Application Requirements for Dealing Membership License document which is available from the Legal department
 
Upon approval of a dealing member's application, they are required to satisfy other requirements detailed in the Post-License Requirements document, also available from Legal.
 
Once these requirements are met, the dealing member is issued a ‘unique identification code’ by the Market Operations department which enables them trade on the NSE's platform.
 
As a provision of membership, each firm is charged annual fees which include (a) insurance and maintenance of trading terminal dues, (b) dues for rented "space" on the trading floor, (c) dealing member dues, (d) authorized clerkship (broker) dues for each broker they employ, and (e) a subscription to the NSE's Daily Official List.
 
Dealing members rely on authorized clerks (brokers) to service their clients (investors). These brokers can only execute trades using the member identification code issued the dealing firm by which they are employed.
 
Eligibility and Admission
 
To be eligible for admission, the individual must:
  1. Have passed an appropriate professional examination as prescribed by law;
  2. Have qualifications and has undergone training recognized and prescribed by The Exchange;
  3. Be registered with The Nigerian Stock Exchange;
  4. Not be less than 21 years old and of good character and integrity;
  5. Have agreed to comply with such other requirements for membership as Council may prescribe from time to time; and
  6. Be recommended by a Dealing Member who will be liable for all transactions made on its behalf on The Exchange by the Authorized Clerk.

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