The Central Securities Clearing System Ltd. (CSCS) on Tuesday said it had built a new data platform to ensure transparency in information sharing and on-line checking of data between it and intermediaries.
Mr Bayo Egunbiyi, Executive Director (Operations) in CSCS, said in Lagos that the platform would eliminate delays in information sharing.
He said that the platform was designed for operators who supplied information to CSCS and not for individual investors.
“Basically, we are looking at people that supply data to CSCS.
“CSCS does not interface with investors because there is always an intermediary such as a broker who CSCS deals with,” he said.
Egunbiyi said that some of the participants that would have access to the platform would include dealing members, registrars, custodians and the settlement banks.
The executive director said that access to the platform would be with the payment of N20,000 fees.
He said that the dealing members would be connected to the platform before the end of next week.
Egunbiyi said that CSCS had met with some stakeholders about the new platform, adding that custodians would be the next group after the brokers.