davide470:
A birdie said they had no broker trading for them which is against NSE stipulated rules coupled with corporate governance issues.. Now, i heard they have employed some brokers to man the trading desk.

The suspension is just temporary, and they should be back up soonest.

Don't quote me though

GudluckIBB:


i have no idea bros, however, if morgan was open i would have sold my stocks at a loss probably but today, my shares are up and doing and im even on the green side of Life


There is a lesson for every thing that happens to us.

OBAGADAFFI:


This is difficult to believe.

If they have no broker on the floor trading for them, it means they've got big problems.

Brokers are the must important staff in any stock broking firm.

davide470:
First of: You need to understand we are in the 21st Century. The era of "on the floor trading" is now becoming archaic. Who goes to the floor again? Majorly "analogue brokers". You definitely won't see the Top firms on the Floor of the Exchange trading when you can remotely trade wherever you are.

Brokers are important; Not quite especially if you have a self-driving platform like iTrade. (Yes - For Execution Only firms)

Are they necessary; Yes

davide470:
First of: You need to understand we are in the 21st Century. The era of "on the floor trading" is now becoming archaic. Who goes to the floor again? Majorly "analogue brokers". You definitely won't see the Top firms on the Floor of the Exchange trading when you can remotely trade wherever you are.

Brokers are important; Not quite especially if you have a self-driving platform like iTrade. (Yes - For Execution Only firms)

Are they necessary; Yes

OBAGADAFFI:


Unfortunately you're wrong.

If Technology haven't replaced brokers on the LSE and NYSE how will the technology replaced brokers in Nigeria.

There is nothing like a self driving platform anywhere in the world. Weather it's SAGE, Oracle, I trades, SAP or ERP system you always need qualified personnel to run the system.

This platforms are not as easy as you see them, much of the work are done at the backend by the Brokers.

OBAGADAFFI:


Unfortunately you're wrong.

If Technology haven't replaced brokers on the LSE and NYSE how will the technology replaced brokers in Nigeria.

There is nothing like a self driving platform anywhere in the world. Weather it's SAGE, Oracle, I trades, SAP or ERP solutions, you always need qualified personnel to run the system.

This platforms are not as easy as you see them, much of the work are done at the backend by the Brokers.

I thought he said " They are necessary".

davide470:
@holm,

True. Maybe they need to consult me on Crisis Management.

The FIX and X-GEN platform from the NSE has made execution seamless or do you think there is a "broker" running around to place your order after you click Submit on iTrade.

LSE and NYSE traders don't do 5,000 units of Apple Inc. or Yahoo. They are mostly proprietary traders (portfolio managers) hence you see them always trying to take positions.

A FBN Securities cannot do without a broker(s) because they deal with Institutional/Foreign Clients but a MorganCapital can actually do without one because they are focused on Retail (iTrade).

Finally, are we not all "brokers" and anybody can run a system in Nigeria.

Cheers mate.

holm:



Your points are valid. The least business who intends to thrive for the long haul should do is providing basic visibility to the brand. Correct contact details are extremely basic to ignore. It tells more about the commitment to offering services being peddled as a selling point.

However, i extracted the details below from a response to email sent to Lead Capital, 2 of the 3 phone nos are different from that from google-search. Please try the nos.

Lead Securities and Investment Limited

Plot 281 Ajose Adeogun Street, Victoria Island, Lagos, Nigeria
Tel: +234 – 1- 2715254, 9049317
Mobile: +234-7037356894
Email: customerservice@leadcapitalng.com
Web: www.leadcapitalng.com

Mpeace:
My only. prayer is that morgan capital does not go the way of Equator Capital securities which went from SEC suspension to oblivion with investors fund traped.

smasher1:

What happened to Equator Capital? I have stocks there.

Intendy:
eterna oil

Closure Date 21 Nov. 2016
Payment date 12 Dec. 2016

http://www.nse.com.ng/Financial_NewsDocs/15658_ETERNA_PLC_CORPORATE_ACTION_CORPORATE_ACTIONS_NOVEMBER_2016.pdf

fxuser:
index needs to find support at dis level
#oversold #weakVol

bigass:
Morgan Capital Customers. .... you in for a long ride......

bigass:
Morgan Capital Customers. .... you in for a long ride......

OBAGADAFFI:


Ha, the truth is finally coming up.

I heard the wife of the late Chairman is insisting on taking over the company her late husband left behind.

What happened to the Board of directors(if any)

All these one man business, are dangerous to do business with.

zendi:


We pray it doesn't end up in court,
knowing how long cases drag on.

currentprice:
zendi

Mpeace:
This is very serious. Come to think of it, most firms that had been suspended in time past still had customer access to monies deposited. This one is quite strange, they just locked up customers money.

Mpeace:
This is very serious. Come to think of it, most firms that had been suspended in time past still had customer access to monies deposited. This one is quite strange, they just locked up customers money.

OBAGADAFFI:


Ha, the truth is finally coming up.

I heard the wife of the late Chairman is insisting on taking over the company her late husband left behind.

What happened to the Board of directors(if any)

All these one man business, are dangerous to do business with.