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NSE Unveils Interpretative Guidance on Index Circuit Breakers’ Rule

The Nigerian Stock Exchange has announced that it has released its Interpretative Guidance on the Circuit Breakers’ Rule, Rule 15.46 of the Rulebook of The Exchange, 2015.

The Rule became effective on January 15, 2016. The Exchange also notified the market of the Securities and Exchange Commission (SEC)’s January 19, 2016 approval of amendments to the Rule.

The implementation of The Exchange’s circuit breaker system is consistent with the procedures prescribed by the World Federation of Exchanges in its 2008 Report on Circuit Breakers, as well as the International Organisation of Securities Commissions in its 2002 Report on Trading Halts and Market Closures.

The Nigerian Stock Exchange, a company limited by guarantee, services the largest economy in Africa and is championing the development of Africa’s financial markets. The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services, and more.

The Nigerian Stock Exchange continues to evolve to meet the needs of its valued customers, and to achieve the highest level of competitiveness. It is an open, professional and vibrant exchange, and the Entrepreneurial Growth hub of Africa. The Nigerian Stock Exchange aspires to be Africa’s foremost securities exchange, connecting Nigeria, with the rest of Africa and the world.

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