ASHON to float commodity exchange, builds capacity

The Association of Stockbroking Houses of Nigeria (ASHON), has commenced strategic training of capital market professionals preparatory to the inauguration of its Commodity and Futures Exchange.

The first training in the series, Commodity and Futures Market was held on Monday, under its Indian-based technical experts, who exposed participants to the fundamentals of Commodity and Futures Market.

The core objective of the training is to develop the much-needed capacity that would operate in the coming Commodity and Futures Exchange, which ASHON is promoting.

Addressing the participants, ASHON’s Chairman, Patrick Ezeagu, explained that every aspect of the capital market had been undergoing changes, noting that there is a need for professionals that would operate in the new environment to acquire the necessary skills.

He said: “The market is expanding, and the various kinds of market we are operating are equally changing as well. From the purely equities market we are moving into bonds, and from bonds we are thinking about commodities and derivatives.

“There is lack of capacity by members of ASHON and we have decided upon ourselves that the best approach is to build capacity from within. We must key into these changes that are taking place land be able to play our role as intermediaries within the market space.

“Therefore, this training which focuses on derivatives and commodities is to ensure that we sharpen the skills of our members to trade derivatives as well as commodities, futures, options and the rest of them,” Ezeagu said

According to him, ASHON has an obligation to protect the businesses of its members and help them to improve on service delivery to their customers in line with the global best practices.