Requirements For Becoming A Dealing Member On Nigerian Stock Exchange –

If you have ever dreamt of Becoming A Dealing Member On Nigerian Stock Exchange, we have brought to you all you need to know and how you can go about it. Few people know the requirements for Becoming A Dealing Member On Nigerian Stock Exchange. Therefore, they are at lost on how to go about it. Worry no more. Help is here for you.

Trading in securities listed on The Exchange are conducted through Dealing Members of The Nigerian Stock Exchange. The Dealing members are simply financial firms and institutions accredited by the NSE to trade securities on the NSE platform. To be eligible for membership on the NSE, Broker-dealers must meet specific requirements set by The Nigerian Stock Exchange. These requirements are stated in the Rules for Registration as a Dealing Member​ of The Nigerian Stock Exchange.​

Also See: Full Directory Of Company Registrars On The Nigerian Stock Exchange

Upon approval of a Dealing Member’s applica​tion, the firm is required to satisfy other requirements detailed in the Post-License Requirements docu​ment. After these requirements are satisfied, the Dealing Member’s registered stockbrokers are issued a ‘unique identification code’ by The NSE which enables them trade  on behalf of the firm.

As a provision of membership, each Dealing Member is charged annually and the fee covers

  • Maintenance of trading terminals.
  • Rented “space” on the trading floor.
  • Dealing Member fees.
  • Authorized clerkship for each stockbroker it employs.

Also See: How To Bid On Nigeria Customs Auctions Portal – Nigeria Custom Auction Portal

Authorized Clerks (Stockbrokers)

Dealing Members rely on authorized ​clerks to service their clients (investors). These brokers act on behalf of Dealing Member   to access the market and assist the investors in buying, selling or dealing in securities. The brokers can only execute trades on The NSE using the  unique identification cod​e assigned to them.

To be eligible for admission as an Authorized Cl​erk, the individual must:

  • Have passed the appropriate Chartered Institute of Stockbrokers professional examination as prescribed by law.
  • Have ​undergone training recognized and prescribed by The Exchange.
  • Be registered with The Nigerian Stock Exchange.
  • Be of good cha​racter and integrity.
  • Also, be recommended by a Dealing Member who will be liable for all transactions made on its behalf.
  • Have agreed to comply with such other requirements for membership as Council may prescribe from time to time​​.

Also See: List Of Financial Empowerment Programs For Nigerian Youths – Portal, Form & Requirement

Requirements For Becoming A Dealing Member On Nigerian Stock Exchange

The requirements for becoming a dealing member on Nigerian Stock Exchange can be obtained in a PDF file. To get it visit this link and download the requirement form: NSE Dealing Member Requirements Form.

NSE Contact

Nigerian Stock Exchange

Exchange House,

2/4 Customs Street,



Happy trading!

Leave a Reply

Your email address will not be published. Required fields are marked *

Pin It on Pinterest

Share This