30 MINUTES DELAYED DATA: ABB2026S0 N100.000.00 % ABBEYBDS [BLS] N1.680.00 % ABC2027S0 N100.000.00 % ABCTRANS N0.350.00 % ACADEMY N1.250.00 % ACCESSCORP [MRF] N9.000.60 % ADV2028S1A N100.000.00 % ADV2031S1B N100.000.00 % AFRINSURE [MRF] N0.200.00 % AFRIPRUD N6.000.00 % AFROMEDIA [MRF] N0.200.00 % AGB2024S0 N100.000.00 % AIICO N0.580.01 % AIRTELAFRI N1548.700.00 % ALEX [BLS] N6.500.00 % ARBICO N1.030.00 % ARDOVA N17.050.00 % ASOSAVINGS [DIP] N0.500.00 % AUSTINLAZ [BLS] N2.030.00 % AXA2027S1 N100.000.00 % BAPLC N6.250.00 % BAU2021S1 N100.000.00 % BERGER N7.000.00 % BETAGLAS N39.600.00 % BUA2027S1 N100.000.00 % BUACEMENT N99.450.00 % BUAFOODS N99.000.00 % CADBURY N12.000.00 % CAP N19.00-0.20 % CAPHOTEL [BLS] N2.500.00 % CAPOIL [MRF] N0.200.00 % CAVERTON N1.000.00 % CHAMPION [BMF] N4.700.00 % CHAMS N0.250.01 % CHELLARAM N1.810.00 % CHIPLC N0.650.00 % CIB2023S1 N100.000.00 % CIL2028S2 N100.000.00 % CILEASING N3.980.00 % CMB2025S1 N100.000.00 % CONOIL N38.000.00 % CORNERST N0.650.00 % COURTVILLE N0.450.00 % CSF2025S1 N100.000.00 % CUSTODIAN N6.100.30 % CUTIX N2.230.12 % CWG [BLS] N0.990.00 % DAARCOMM [MRF] N0.200.00 % DAN2024S1TA N100.000.00 % DAN2026S1TB N100.000.00 % DAN2027S2TA N100.000.00 % DAN2028S1TC N100.000.00 % DAN2029S2TB N100.000.00 % DAN2032S2TC N100.000.00 % DANGCEM N288.000.00 % DANGSUGAR N18.40-0.10 % DCM2025S1 N100.000.00 % DEAPCAP [DWL] N0.200.00 % DIF2029S1TA N100.000.00 % DIF2032S1TB N100.000.00 % DUNLOP [MRS] N0.200.00 % EKOCORP [BMF] N5.790.00 % ELLAHLAKES N3.960.00 % ENAMELWA N17.750.00 % EPF2026S1 N100.000.00 % ETERNA N6.800.00 % ETI [MRF] N10.800.00 % ETRANZACT [BLS] N3.600.00 % EUNISELL N2.910.00 % FBNH [MRF] N10.950.25 % FBQ2030S2 N100.000.00 % FCMB N4.06-0.15 % FFFBNBALF N146.140.00 % FFFBNFIF N1234.590.00 % FFFBNMMF N100.000.00 % FFFRONTIER N121.430.00 % FFFSDHCGF N3002.680.00 % FFFSDHCIF N2858.810.00 % FFIONEABMM N100.000.00 % FFIONEVBF N2.150.00 % FFIONEVGIF N1.000.00 % FFLEGYDTFD N3.350.00 % FFLEGYEYFD N1.180.00 % FFLEGYMMFD N100.000.00 % FFLEGYUBFD N1.040.00 % FFSFSFIXED N1.030.00 % FFUNCAPBDF N1.650.00 % FFUNCAPBLF N1.230.00 % FFUNCAPEBF N109.300.00 % FFUNCAPEQF N0.720.00 % FFUNCAPMMF N1.000.00 % FFUNCAPWFF N1.120.00 % FG112024S1 N100.100.00 % FG112024S1 N100.100.00 % FG112034S2 N101.000.00 % FG112034S2 N101.000.00 % FG132026S1 N101.150.00 % FG132026S1 N101.150.00 % FG132036S2 N90.720.00 % FG132036S2 N90.720.00 % FG142027S1 N112.860.00 % FG142027S1 N112.860.00 % FG142037S2 N110.000.00 % FG142037S2 N110.000.00 % FG152023S3 N103.000.00 % FG152025S2 N102.890.00 % FG152025S2 N102.890.00 % FG152028S1 N99.960.00 % FG152028S1 N99.960.00 % FG162029S1 N102.470.00 % FG162029S1 N102.470.00 % FG162049S2 N145.050.00 % FG162049S2 N145.050.00 % FG172035S1 N114.370.00 % FG172035S1 N114.370.00 % FG172045S3 N100.000.00 % FG172045S3 N100.000.00 % FG172050S2 N105.000.00 % FG172050S2 N105.000.00 % FG182032S2 N100.000.00 % FG182042S1 N100.000.00 % FG5B2028S5 N100.000.00 % FG5B2028S5 N100.000.00 % FG6B2029S3 N100.000.00 % FG6B2029S3 N100.000.00 % FG6B2029S5 N100.000.00 % FG6B2029S5 N100.000.00 % FG7B2030S3 N70.500.00 % FG7B2030S3 N70.500.00 % FGB2026S2 N108.000.00 % FGB2026S2 N108.000.00 % FGEUR2023S9 N98.190.00 % FGEUR2025S5 N100.000.00 % FGEUR2027S2 N100.000.00 % FGEUR2028S10 N100.000.00 % FGEUR2029S4 N100.000.00 % FGEUR2030S8 N100.000.00 % FGEUR2031S6 N100.000.00 % FGEUR2032S1 N100.000.00 % FGEUR2033S11 N100.000.00 % FGEUR2038S7 N100.000.00 % FGEUR2047S3 N100.000.00 % FGEUR2049S4 N100.000.00 % FGEUR2051S12 N100.000.00 % FGS202301 N90.000.00 % FGS202303 N100.000.00 % FGS202305 N100.000.00 % FGS202307 N90.000.00 % FGS202375 N85.000.00 % FGS202375 N85.000.00 % FGS202377 N100.000.00 % FGS202377 N100.000.00 % FGS202379 N100.000.00 % FGS202379 N100.000.00 % FGS202381 N100.000.00 % FGS202381 N100.000.00 % FGS202383 N100.000.00 % FGS202390 N100.000.00 % FGS202392 N100.000.00 % FGS202394 N90.000.00 % FGS202396 N72.000.00 % FGS202398 N109.500.00 % FGS202402 N100.000.00 % FGS202404 N100.000.00 % FGS202406 N98.460.00 % FGS202408 N40.050.00 % FGS202409 N100.000.00 % FGS202411 N100.000.00 % FGS202413 N100.000.00 % FGS202415 N100.000.00 % FGS202417 N80.000.00 % FGS202419 N75.000.00 % FGS202421 N100.000.00 % FGS202423 N80.000.00 % FGS202425 N100.000.00 % FGS202427 N100.000.00 % FGS202429 N100.000.00 % FGS202431 N100.000.00 % FGS202485 N100.000.00 % FGS202487 N80.000.00 % FGS202489 N85.000.00 % FGS202491 N93.000.00 % FGS202493 N90.000.00 % FGS202495 N90.000.00 % FGS202497 N100.000.00 % FGS202499 N90.000.00 % FGS202510 N100.000.00 % FGS202512 N100.000.00 % FGS202514 N100.000.00 % FGS202516 N100.630.00 % FGS202518 N100.000.00 % FGS202520 N100.000.00 % FGS202522 N100.000.00 % FGS202524 N100.000.00 % FGS202526 N90.020.00 % FGS202528 N100.000.00 % FGS202530 N100.000.00 % FGS202532 N100.000.00 % FGS202533 N100.000.00 % FGS202535 N100.000.00 % FGS202634 N100.000.00 % FGS202636 N100.000.00 % FGSUK2024S1 N125.000.00 % FGSUK2025S2 N103.002.00 % FGSUK2027S3 N91.00-0.69 % FGSUK2031S4 N90.500.00 % FHSUK202801 N100.000.00 % FHSUK202902 N100.000.00 % FID2031S1 N100.000.00 % FIDELITYBK N5.15-0.04 % FIDSON N9.840.00 % FLOURMILL N31.000.00 % FMN2023S2 N100.000.00 % FMN2025S3B N100.000.00 % FTNCOCOA [RST] N0.290.01 % GEREGU [BLS] N304.000.00 % GLAXOSMITH N6.200.00 % GMB2019S1 N100.000.00 % GOLDBREW [BLS] N0.810.00 % GOLDINSURE [MRS] N0.200.00 % GREENWETF N100.000.00 % GSPECPLC [MRF] N2.480.00 % GTCO [MRF] N24.700.10 % GUINEAINS N0.200.00 % GUINNESS N70.000.00 % HONYFLOUR N2.250.00 % IAO2026S1 N100.000.00 % IKEJAHOTEL N1.14-0.12 % IMG N7.300.00 % INFINITY [BLS] N1.280.00 % INTBREW [BMF] N4.650.00 % INTENEGINS [RST] N1.210.00 % JAIZBANK N0.87-0.02 % JAPAULGOLD N0.300.01 % JBERGER N26.950.00 % JOHNHOLT N1.590.00 % JULI N0.790.00 % KGB2020S1 N100.000.00 % KGB2022S2 N100.000.00 % LAB2023S1 N100.000.00 % LAB2027T2 N100.000.00 % LAB2027T4 N100.000.00 % LAB2031S4 N100.000.00 % LASACO N0.980.00 % LEARNAFRCA N2.200.00 % LFZ2041S1 N100.000.00 % LFZ2042S2 N100.000.00 % LINKASSURE N0.410.00 % LIVESTOCK N1.03-0.06 % LIVINGTRUST N3.070.00 % LMS2025S2 N100.000.00 % LOTUSHAL15 N18.630.00 % MANSARD N2.000.00 % MAYBAKER N4.500.00 % MBENEFIT N0.330.01 % MCI2026S1 N100.000.00 % MCNICHOLS N0.790.00 % MEDVIEWAIR [BMF] N1.620.00 % MERGROWTH N19.250.00 % MERVALUE N21.950.00 % MEYER N2.210.00 % MORISON N2.170.00 % MRE2023S2A N100.000.00 % MRE2023S2B N100.000.00 % MRS N27.950.00 % MTNN N236.000.00 % MULTITREX [DWL] N0.360.00 % MULTIVERSE N3.25-0.20 % NAHCO N8.200.00 % NASCON N12.200.00 % NB N38.55-1.25 % NCR N2.890.00 % NEIMETH N1.480.02 % NEM N4.000.00 % NESF N552.200.00 % NESTLE N1080.300.00 % NEWGOLD N11100.160.00 % NGXGROUP N27.850.00 % NIGERINS [MRF] N0.200.00 % NMR2027S3 N100.000.00 % NMR2030S1 N100.000.00 % NMR2033S2 N100.000.00 % NNFM N11.000.00 % NOTORE [BLS] N62.500.00 % NOVA2027S1 N100.000.00 % NPFMCRFBK [BLS] N1.730.00 % NSLTECH N0.240.00 % NSP2031S2 N100.000.00 % NSP2034S1 N100.000.00 % OANDO [MRF] N4.200.10 % ODB2027S1 N100.000.00 % OKOMUOIL N183.500.00 % OMATEK [RST] N0.200.00 % PBS2026S1 N100.000.00 % PHARMDEKO N1.890.00 % PREMPAINTS [MRF] N10.000.00 % PRESCO N150.800.00 % PRESTIGE [BLS] N0.450.00 % PZ N10.800.00 % RAKUNITY [MRF] N0.300.00 % REDSTAREX N2.770.00 % REGALINS N0.29-0.01 % RESORTSAL [MRF] N0.200.00 % RONCHESS N81.000.00 % ROYALEX N0.720.00 % RTBRISCOE N0.250.00 % SB2024S1TA N100.000.00 % SB2024S1TB N100.000.00 % SCOA N1.000.00 % SEPLAT N1200.000.00 % SFSREIT N77.000.00 % SIAMLETF40 N80.000.00 % SIM2023S1 N100.000.00 % SIM2025S2 N100.000.00 % SKYAVN N5.000.00 % SMURFIT [MRF] N0.220.00 % SOVRENINS N0.27-0.01 % STACO [MRF] N0.480.00 % STANBIC N36.50-3.40 % STANBICETF30 N238.50-26.50 % STDINSURE [MRF] N0.200.00 % STERLNBANK N1.50-0.01 % SUNUASSUR N0.440.00 % TAJSUKS1 N100.000.00 % TANTALIZER N0.200.00 % THOMASWY [RST] N1.300.00 % TIP N0.520.00 % TOTAL N218.800.00 % TOURIST [DIP] N2.840.00 % TRANSCOHOT [BLS] N6.370.00 % TRANSCORP [MRF] N1.300.01 % TRANSEXPR N0.890.00 % TRIPPLEG N2.700.00 % TSL2030S1 N100.000.00 % UACN N9.550.00 % UBA [MRF] N8.100.05 % UBN [BMF] N6.750.00 % UBN2029S3 N100.000.00 % UCAP N12.200.00 % UCAP2025S1 N100.000.00 % UHOMREIT N36.600.00 % UNHOMES [DIP] N3.020.00 % UNILEVER N14.000.00 % UNIONDAC [DIP] N0.280.00 % UNIONDICON [BRS] N8.950.00 % UNITYBNK N0.530.00 % UNIVINSURE N0.200.00 % UPD2023S1 N100.000.00 % UPDC [BLS] N1.000.03 % UPDCREIT N3.150.00 % UPL N2.100.11 % VANLEER N5.450.00 % VERITASKAP N0.200.00 % VETBANK N4.340.00 % VETGOODS N7.040.00 % VETGRIF30 N19.620.00 % VETINDETF N25.520.00 % VITAFOAM N18.600.00 % VSPBONDETF N161.430.00 % WAPCO N25.400.30 % WAPIC N0.38-0.04 % WEM2023S1 N100.000.00 % WEMABANK N4.050.05 % ZENITHBANK [MRF] N24.750.15 %

Derivatives

Derivatives are essentially contracts that derive their value from an agreed-upon underlying asset, index or commodity. Common underlying instruments include bonds, commodities, currencies, interest rates, market indices and stocks. ​

Why Use Derivatives?

  1. Leverage provides a capital-efficient way to gain exposure to underlying assets. This creates greater volatility which amplifies gains and losses
  2. Derivatives allow investors to take advantage of price movements in the underlying assets
  3. They are typically liquid and easily traded
  4. They serve as a tool for Portfolio diversification
  5. The added benefit short-selling afford users the opportunities to benefit from downward price movements

Who is this for?

Derivatives are suited to both professional and private investors who wish to hedge an open position or gain exposure to assets and markets without necessarily holding the underlying assets. Derivatives may also be traded by speculators with the sole purpose of making profits on short-term price movements.

NGX Derivatives Market Macrostructure

NGX Equity Index Futures Fees Structure

Trading Fees on Derivative Transactions
FeesTransaction Cost (% of Notional)Fee Description
Clearing Fee (NGCL)0.040%0.04% of Notional Value of the Contract on Both Sides
Exchange (NGX)0.005%0.005% of Notional Value of the Contract on Both Sides; subject to minimum of A floor of ₦0.01 per contract
**Regulator (SEC)0.005%0.005% of Notional Value of the Contract on Both Sides; subject to minimum of A floor of ₦0.01 per contract
*Trading Licence Holder0.080%Capped at 0.08% of Notional Value of the Contract on Both Sides
*Investor Protection Fund0.020%0.02% of Notional Value of the Contract on Both Sides
Total0.150%0.15% of Notional Value of the Contract

 

Other Charges to the Investor
Fees Fee Description
Position Management Fee (NGCL)0.02% of Average Monthly Nominal Value of Open Position.This is the cost of keeping the position open over a period to be charged monthly to the Clearing Member. Which shall subsequently be passed to the TLH firms and then to the investor.
  • NGX Derivatives Trading Fees was based on benchmarking against pricing regime in international derivative markets as well as domestic OTC market.
  • SEC fees are indicative and will be communicated formally by the SEC.
  • TLH fees are proposed to be capped at 0.1% with 0.02% going to the Investor Protector Fund for the product.
Capacity Building Programs
Understanding NGX Equity Index Futures
NGX Equity Futures Contract Specifications
NGX Derivatives Trading Manual
NGX Derivatives Trading Membership Requirements