ASHON CALLS FOR STOCKBROKING FEE HIKE AND RESTORATION OF MARGIN TRADING
The Association of Securities Dealing Houses of Nigeria (ASHON) has urged the Securities and Exchange Commission (SEC) to increase stockbroking fees, which have remained fixed at 1.35% for several years, despite rising inflation. ASHON's chairman, Sam Onukwue, made this appeal at the association's annual general meeting. He argued that stockbrokers' incomes have been limited due to these static fees.
ASHON also called for the reinstatement of margin trading, which was previously suspended due to misuse. Onukwue explained that the suspension has hindered stockbrokers' ability to leverage liquidity and benefit from market opportunities. The association is engaging with regulators to address this and explore updates to relevant trading rules, particularly regarding the exclusion of banking stocks.
In addition, ASHON highlighted efforts to improve relations between its members and capital market registrars to resolve operational challenges. Onukwue expressed confidence in a bright future for the association and its stakeholders, despite current market difficulties.
The Association of Securities Dealing Houses of Nigeria (ASHON) has urged the Securities and Exchange Commission (SEC) to increase stockbroking fees, which have remained fixed at 1.35% for several years, despite rising inflation. ASHON's chairman, Sam Onukwue, made this appeal at the association's annual general meeting. He argued that stockbrokers' incomes have been limited due to these static fees.
ASHON also called for the reinstatement of margin trading, which was previously suspended due to misuse. Onukwue explained that the suspension has hindered stockbrokers' ability to leverage liquidity and benefit from market opportunities. The association is engaging with regulators to address this and explore updates to relevant trading rules, particularly regarding the exclusion of banking stocks.
In addition, ASHON highlighted efforts to improve relations between its members and capital market registrars to resolve operational challenges. Onukwue expressed confidence in a bright future for the association and its stakeholders, despite current market difficulties.
