NGX renames market indices

By Chioma Obinagwam

Nigerian Exchange Limited (NGX) has announced the rebranding of all its existing indices by changing the prefix from NSE to NGX.

The NGX informed Confiance News in a statement.

The transition, which is effective Monday, 28 June 2021, leverages on the new brand identity of the Exchange.

There are currently nineteen 19 indices – either wholly-owned or co-branded – on NGX, servicing the investment management community along the lines of product development, benchmarking. Below are the changes to the indices nomenclature:

NGX rebranded indices. Photo: NGX Limited.

Confiance News recalls that the recent demutualisation led to the transformation of the Nigerian Stock Exchange (NSE) to a non-operating holding company, Nigerian Exchange Group Plc (NGX Group).

Consequently, the Group now has three wholly-owned operating subsidiaries, namely: Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX RegCo), the independent regulation company; and NGX Real Estate Limited (NGX RelCo), the real estate company.

“Consequently, the rebranding of the indices is in line with NGX’s drive to standardise and ensure consistent expression of the brand across touchpoints. From today, all indices from Nigerian Exchange Limited will be rebranded with a pre-fix, NGX, to promote brand awareness and recognition. Market players should however note that this exercise will not affect the computation methodology of the indices,” the statement highlighted.

As NGX continues to provide a platform for investors and issuers to meet their various investment objectives, this rebranding effort is a testament to NGX’s commitment to providing an efficient market that reflects available information.

Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July.

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