The Nigerian Exchange Limited (NGX) operates an Automated Trading System (ATS) platform with a central order book that allows Trading License Holders to participate on equal terms, competing on the hierarchical basis of Price, Cross and Time priority. NGX runs a hybrid market, allowing Trading License Holders to submit orders and Market Makers to submit two-sided quotes into the order book.
Market hours: 9.30 to 14.30
| SESSION | TIME | BOARDS | ORDER TYPE | ORDER DURATION | PRICE LIMIT |
|---|---|---|---|---|---|
| Pre-Open | 9:30 |
EQTY Growth Board Premium |
Limit Quotes |
Good Till Open Good Till Date Day |
+/-10% |
| Pre-Open IO | 9:55 |
EQTY Growth Board Premium |
Imbalance | Session | |
| Continuous Trading | 10:00 | |
Limit Market Crossing |
| |
|
EQTY Growth Board Premium |
Negotiated Private FAK FOK AON |
Immediate Day Good Till Date |
|||
|
Quotes Pre-Close |
| ||||
| Pre-Close | 14:20 |
EQTY Growth Board Premium |
Market Limit Quotes |
Good Till Close Good Till Date Day |
|
| Pre-Close IO | 14:25 |
EQTY ASEM Premium |
Imbalance | Session | |
| Close | 14:30 | EQTY Growth Board Premium |
– | – | |
| FEES TYPE | BUY SIDE | SELL SIDE |
|---|---|---|
| NGX FEE | – | 0.3% |
| CSCS FEE | – | 0.3% |
| TRADE ALERT FEE | N4.00 | N4.00 |
| SEC FEE | 0.3% | – |
| STAMP DUTY | 0.08% | 0.08% |
| OTHERS: BROKERAGE COMMISSION | 0.75 – 1.35% | 0.75 – 1.35% |
| VAT | (7.5% of Brokerage and SEC Fees) | (7.5% of NGX + CSCS + Brokerage Fees) |