In a move to reposition its members to drive innovation, grow membership base and renew investor confidence in the capital market, the Chartered Institute of Stockbrokers (CIS) has reviewed the processes and procedures.
Addressing capital market correspondents on the high points of 2019 Stockbrokers’ annual conference, the Chairman, Planning Committee, Ms. Abiola Adekoya, explained that the conference theme, “Boosting Capital Market Competitiveness in a Challenging Macro Environment,” was chosen to articulate policy measures that can reposition the capital market to play its pivotal role as a platform for mobilisation of funds from surplus economic units to deficit one.
Adekoya stated that issues such as innovation and growth, fintech, attracting talents to securities industry and nexus between agriculture and the capital market shall formed the fulcrum of plenary sessions at the conference, scheduled for November 21 to November 22, 2019.
“With the integrated and digital-driven global economy of today, the barriers to competition are gradually coming down, making it necessary for stockbroking firms with exposure to the domestic market to innovate to retain and attract customers.
“Given the challenging domestic macroeconomic environment and liberal immigration policies in advanced economies with aging populations, retaining talent in the securities industry has been difficult, with negative implications for performance,” Adekoya said.
Corroborating her, the First Vice President, CIS, Mr Tunde Amolegbe, explained that the significance of discussing fintech at the conference should be appreciated against the background of the institute’s efforts at ensuring the success of the government policy on financial inclusion.
Amolegbe stressed that the conference would bring about robust ideas on how to reposition the market in view of unfolding developments in global economy.
Amolegbe also clarified the implication of fintech on transaction cost, saying that it would rather make the cost cheaper and encourage more participation in the market across the board.
The Managing Director, Stambic IBTC Nominees, Mr Akeem Oyewale, said that this year’s conference would spring up conversation around the strategies to make the securities industry attractive to the millennials.
The Managing Director, FBN Quest Securities, Mrs Fiona Ahimie, described the conference as an opportunity to deepen participants’ understanding of investment opportunities in the capital market and how to take advantage.
Corroborating Ahimie, the Managing Director, Afrinvest Securities, Mr Ayodeji Eboc noted that conference would address a wide range of economic and political issues, especially, how stockbrokers can take advantage of the capital market to boost their earnings while the Managing Director, Morgan Capital, Mr Muyiwa Adeyemi, explained that the broad objective of this year’s conference was to create a platform where contemporary development issues would be articulated for enhanced competitiveness of the capital market.