NGX rebrands market indices
Nigerian Exchange Limited (NGX) has announced the rebranding of all its existing indices by changing the prefix from NSE to NGX.
The transition, which is effective Monday, 28 June 2021, leverages on the new brand identity of the Exchange.
According to a press statement signed by Olumide Orojimi, Head of Corporate Communications at the Exchange, There are currently 19 indices – either wholly-owned or co-branded – on NGX, servicing the investment management community along the lines of product development, benchmarking.
The recent demutualisation led to the transformation of The Nigerian Stock Exchange 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.
The statement partly read, “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.
“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.
The rebranded 19 indices are NGX All-Share Index (ASI), NGX-Main Board Index, NGX 30, NGX Pension Index, NGX Banking Index, NGX Premium Index, NGX CG Index, NGX Insurance Index, NGX ASeM Index and NGX-AFR Bank Value Index.
Others are NGX AFR Div Yield Index, NGX MERI Growth Index, NGX MERI Value Index, NGX Consumer Goods Index, NGX Oil/Gas Index, NGX Lotus Islamic Index, NGX Industrial Goods Index, NGX Growth Index and NGX Sovereign Bond Index.
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.