Former US CFTC chair, James Stone, to speak at NSE

As part of strategic initiatives to enhance the efficiency of capital market operations in Nigeria, the Nigerian Stock Exchange (NSE) and Coronation Merchant Bank, have invited the former Chairman of the US Commodities Futures Trading Commission (US CFTC), Mr. James Stone, to deliver a special lecture on the ‘Pluses and Pitfalls of Derivatives Trading’ at the NSE.
The initiative, which is a component of NSE’s international stakeholders’ engagement strategy that commenced four years ago, will also see Stone, a former lecturer in Economics at Harvard University and the former Commissioner of Insurance, Massachusetts, interact with the leadership of the Lagos bourse and leading figures in Nigeria’s capital market.
Commenting, Oscar Onyema, CEO of NSE said, “having Mr. Stone, a fellow of the American Society of Arts and Sciences, who was appointed by President Jimmy Carter as Chairman of the US CFTC, is an amazing opportunity because of the quality of engagement and insight that will be gained from the interaction.”
He added that, “the Nigerian Exchange is committed to building capacity and enhancing the expertise of operators and other associated parties towards collective efficiency. Therefore, the lecture on ‘Pluses and Pitfalls of Derivatives Trading’ to be delivered by Mr. James Stone will provide enriching perspectives and strengthen the capacity of capital market operators, who create value for investors through their operations on the floor of the NSE.”
Likewise, Coronation Merchant Bank Group, a major player on the NSE whose subsidiary, Coronation Asset Management, recently listed three Mutual Funds on the exchange – Coronation Money Market Fund, Coronation Fixed Income and Coronation Balanced Fund, noted that “a collaborative approach to capacity building will unlock the inherent value on the exchange,”
According to its Managing Director, Abubakar Jimoh, “we are excited about our collaboration with the NSE on this noteworthy initiative, which will have positive effects on capital market operations in Nigeria.
“As a wholesale, financial institution focused on transforming the face of merchant banking in Africa, Coronation Merchant Bank is not only open to innovative collaborations that will bring development to the African financial landscape, but will serve as a catalyst for revitalising capital market operations across the continent,” added Jimoh.