The Nigerian Stock Exchange (NSE) on Tuesday said it has launched a N500 million ($1.4million) state-of-the art Data Centre in line with its tradition of pioneering extensive innovations within the Nigerian Capital Market.

With the new data centre, the Lagos bourse can now offer secure cloud services to both market operators and companies interested in having a low-cost, highly available service for their customer base. According to Executive Director, Market Operations and Technology, NSE, Ade Bajomo, the new data centre will provide a secure, reliable and advanced physical and technical environment for the Exchange. “It comes with real time monitoring of active devices, n+1 resistance of all critical components, 99.982% availability, uninterrupted power supply and market leading cloud hosting capabilities. Data is replicated in real time offsite to a Tier III partner data Centre that is 25km away from the production site. These features place NSE’s services at par with the best exchanges globally.”

He said the centre which was built to Uptime Institute’s TIER III design standards, re-affirms NSE’s pledge to digitally transform the Capital Market and enable financial inclusion. “The Data Center allows the Exchange to strengthen the adoption of digital techniques within its ecosystem and provides our stockbroking firms with the option of hosting their infrastructure in a 24x7 highly available and efficient platform. Currently, 90% of all trades are also done outside the Exchange. Our Data Center can currently host 50 clients but can scale up rapidly with demand,” he added.

It should be recalled that NSE in July launched X-Smart, a new market surveillance platform that will enable it to reduce fraud in the Nigerian market. Aside from this, the bourse has launched many other platforms like X-GEN, X-ISSUER and X-BOSS to better position itself as a world class Exchange with the best-in-class technologies.

Anita Fatunji