The Nigerian Exchange Limited (NGX) has announced the re-branding 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.
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, bench-marking.
Designed using the market capitalisation methodology, the indices are re-balanced on a semi-annual basis on the first business day in January and in July.
Below are the changes to the indices classification:
S/N Existing Name New Name
1 NSE All-Share Index (ASI) NGX All-Share Index (ASI)
2 NSE-Main Board Index NGX-Main Board Index
3 NSE 30 Index NGX 30 Index
4 NSE CG Index NGX CG Index
5 NSE Premium Index NGX Premium Index
6 NSE Banking Index NGX Banking Index
7 NSE Pension Index NGX Pension Index
8 NSE Insurance Index NGX Insurance Index
9 NSE ASeM Index NGX ASeM Index
10 NSE-AFR Bank Value Index NGX-AFR Bank Value Index
11 NSE AFR Div Yield Index NGX AFR Div Yield Index
12 NSE MERI Growth Index NGX MERI Growth Index
13 NSE MERI Value Index NGX MERI Value Index
14 NSE Consumer Goods Index NGX Consumer Goods Index
15 NSE Oil/Gas Index NGX Oil/Gas Index
16 NSE Lotus Islamic Index NGX Lotus Islamic Index
17 NSE Industrial Goods Index NGX Industrial Goods Index
18 NSE Growth Index NGX Growth Index
19 NSE Sovereign Bond Index NGX Sovereign Bond Index
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.
According to the Exchange, the rebranding of the indices is in line with NGX’s drive to standardise and ensure consistent expression of the brand across touch points. “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.” A statement from the Exchange read.