The Nairobi Securities Exchange (NSE) admitted EGM Securities as a trading member of the NSE Derivatives Market on October 15, 2020. The admission follows EGM Securities’ satisfaction of the licensing and operating requirements of a Derivatives Broker as stipulated under the Capital Markets, Derivatives Markets Regulations, 2015.
The admission will enable the NSE to increase its client base by leveraging on EGM Securities’ extensive footprint across key markets in Africa and globally.
EGM Securities, a well-established non-dealing forex online broker regulated by the Capital Markets Authority, will now be able to onboard on-shore exchange traded derivatives products to its clients, execute trades as well as market the NSE products to its wide array of retail offshore investors.
Commenting on the admission, Mr. Geoffrey Odundo, NSE Chief Executive noted that, “The admission of EGM Securities is in line with our focus to enhance retail participation in the NSE Derivatives Market. This strategic partnership will enable us increase our customer touch points as well as offer an alternative investment product to the growing retail investors focused in online trading”.
“We are honored and delighted to be part of this partnership with the Nairobi Securities Exchange. Our admission as a trading participant in the NSE Derivatives Market will offer both our platform’s local and overseas users an opportunity to participate in one of the leading securities exchanges in Africa. Our clients will be able to benefit from price movements in blue chip equities and the NSE 25 Share Index, and we are thrilled to create exciting opportunities for investors considering East Africa as the destination for their capital,” Samwel Kiraka, Chief Executive Officer, EGM Securities, commenting on the partnership.
The admission makes EGM Securities the first non-trading market participant to join the NSE Derivatives Market bringing the total number of active derivatives brokers to eight.