InfoWARE, a technology solutions provider, has emerged as an enabler of trading activities on the Nigerian Exchange, powering 56 per cent of transactions executed by the NGX top 10 stockbrokers over the past five years.
In a statement on Tuesday, Stanbic IBTC led the trades on InfoWARE’s platform with N1.42tn, representing 37.48 per cent of the total. CardinalStone Securities followed with N899.4bn, accounting for 23.78 per cent.
In 2022, InfoWARE processed N1.25tn out of the N1.55tn value traded by the top 10 brokers, contributing 53.31 per cent of the total value. It also handled over one trillion in transaction volume out of the 1.3 trillion recorded by the top 10 brokers.
Speaking on the company’s impact, the Managing Director and Chief Software Architect, Osarumwense Agbonile, said, “Our platform has become a key tool for stockbrokers, enabling efficient and seamless trade execution on the NGX.”
He said InfoWARE’s platform is also used by over 40 brokers across Nigeria, Ghana, and Kenya, with total transactions exceeding N6tn over the last five years.
He said the platform supports compliance with regulatory requirements set by the Securities and Exchange and the NGX.
