ASHON seeks multiple income channels for stockbroking firms
The Association of Securities Dealing Houses of
Nigeria says it will review options for multiple income streams for members in
the wake of the difficult operating environment.
The operations of most stockbroking firms in
Nigeria have been largely hampered by macroeconomic instability, low purchasing
power of investors, anti-investment government policies and investor apathy,
ASHON said in a statement that the new avenues
for income generation would be reviewed at its 10th Annual General Meeting
scheduled to hold in Lagos this month.
It said its resolve was coming on the heels of similar initiatives being put
together by the trade association to enable their members to remain in business
irrespective of the nature of operating environment.
The statement said the Chairman, ASHON, Chief
Patrick Ezeagu, was expected to brief members on some new developments in the
financial market that could provide multiple income streams for the members.
Sources also hinted that ASHON could be
considering a relationship with the newly approved FMDQ Securities Exchange as
a new platform where members could execute transactions.
Source: Punchng, October 7, 2019