The Nairobi Securities Exchange on Thursday admitted EGM Securities as a trading member to its Derivatives Market, making it the first non-trading market participant to join the NSE Derivatives Market bringing the total number of active derivatives brokers to eight
The admission of EGM securities 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, which is 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.
The NSE Chief Executive Mr. Geoffrey Odundo, noted that, “The admission of EGM Securities was in line with their focus to enhance retail participation in the NSE Derivatives Market. He also stated that the partnership will enable them increase their customer touch points as well as offer an alternative investment product to the growing retail investors focused in online trading.
Samwel Kiraka, the Chief Executive Officer of EGM Securities, said that they were delighted to be part of the partnership with Nairobi Securities Exchange as it will benefit both them and their clients.