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WHAT IS THE CENTRAL SECURITIES CLEARING SYSTEMS (CSCS) LIMITED?

April 26, 2017clearing CSCS limited securities SYSTEMS

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WHAT IS THE CENTRAL SECURITIES CLEARING SYSTEMS (CSCS) LIMITED?

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This is one of the major outcomes of automated (computerized) trading. The Central Securities Clearing System (CSCS) operates a computerized clearing, settlement and delivery system for transaction in securities listed on The Nigerian Stock Exchange. It is the central depository for share certificates of companies listed on The Nigerian Stock Exchange. This feature has not only significantly enhanced the speed of buying and selling shares for investors, but also provides all investors a CSCS number (similar to a bank account number) which enables any investor to independently access any information regarding his investment directly from the NSE without necessary going through his/her stockbroker. This further enhances transparency.