​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​DEALING MEMBERS’ RULES AND REGULATIONS​​
NSE Regulation
The Nigerian Stock Exchange (The NSE or The Exchange), being a self-regulatory organization maintains a body of rules to regulate admission and supervision of its Dealing Members to enforce compliance with financial and operational requirements and the continuous monitoring and surveillance of their trade operations. 

All Dealing Members of ​The Exchange are bound by The NSE's Rules and Regulations Governing Dealing Members which provide the framework for orderly exchange trading. Dealing Members and their Authorized Brokers trading on the floor of T​he Exchange are obliged to fulfill certain obligations​ that are laid down in the Rules and Regulations Governing Dealing and other rules and regulation governing the capital market. Appropriate disciplinary actions would be taken against any Dealing Member that violates the rules.​​ ​


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Rules and Regulations Governing Dealing MembersRules and Regulations Governing Dealing Members.pdf
Rules and Regulations Governing Dealing Members (Amendments and Additions, Part I)Rules and Regulations Governing Dealing Members (Amendments and Additions, Part I).pdf
Rules and Regulations Governing Dealing Members (Amendments and Additions, Part II)Rules and Regulations Governing Dealing Members (Amendments and Additions, Part II).pdf
Rules and Regulations Governing Dealing Members (Amendments and Additions, Part III)Rules and Regulations Governing Dealing Members (Amendments and Additions, Part III).pdf
Rules and Regulations Governing Dealing Members (Amendments and Additions, Part IV)Rules and Regulations Governing Dealing Members (Amendments and Additions, Part IV).pdf
Rules and Regulations Governing Dealing Members (Amendments and Additions, Part V)Rules and Regulations Governing Dealing Members (Amendments and Additions, Part V).pdf
Rules and Regulations Governing Dealing Members (Amendments and Additions, Part VI)Rules and Regulations Governing Dealing Members (Amendments and Additions, Part VI).pdf
Rules and Regulations Governing Dealing Members (Amendments and Additions Part VII) - Par Value RuleRules and Regulations Governing Dealing Members (Amendments and Additions Part VII) - Par Value Rule.pdf
Penalties for Breaches of the Rules Governing Dealing MembersPenalties for Breaches of the Rules Governing Dealing Members.pdf
Rules for Registration as a Dealing Member of The Nigerian Stock ExchangeRules for Registration as a Dealing Member of The Nigerian Stock Exchange.pdf
Rules Governing Compliance Officers of Dealing Member FirmsRules Governing Compliance Officers of Dealing Member Firms.pdf
Trading Halts Due to Extraordinary Market Volatility (Index Circuit Breakers Rule) 2014Trading Halts Due to Extraordinary Market Volatility (Index Circuit Breakers Rule) 2014.pdf
SEC's Market Makers RulesSEC's Market Makers Rules.pdf
Market Making Rules of the NSE Nigerian Stock ExchangeMarket Making Rules of the NSE Nigerian Stock Exchange.pdf
Securities Lending GuidelinesSecurities Lending Guidelines.pdf
Short Selling RulesShort Selling Rules.pdf
The NSE Guidelines for Supplemental Market MakerThe NSE Guidelines for Supplemental Market Maker.pdf
Guidelines for Designated Advisers for Companies Listed on ASeMGuidelines for Designated Advisers for Companies Listed on ASeM.pdf
Investor Protection Fund RulesInvestor Protection Fund Rules.pdf
Operational Guidelines for Market Makers in Retail Bonds TradingOperational Guidelines for Market Makers in Retail Bonds Trading.pdf
Sponsored Access RulesSponsored Access Rules.pdf
Guidelines for the Establishment and Maintenance of Representative OfficesGuidelines for the Establishment and Maintenance of Representative Offices.pdf
Guidelines for Dealing with Sub-BrokersGuidelines for Dealing with Sub-Brokers.pdf
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Trading Halts Due to Extraordinary Market Volatility (Index Circuit Breakers Rule).pdf
  
Amendments to the Designated Adviser Guidelines.pdf
  
Amendments to Dealing Members' Rules (Part VIII).pdf
  
Rules Governing the Inclusion of Retail Participants in Securities Lending.pdf
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Amendments to Rules for Registration as a Dealing Member of The ExchangeAmendments to Rules for Registration as a Dealing Member of The Exchange.pdf
Proposed Amendments and Additions to the Rules Governing Dealing Members (Part IX)Proposed Amendments and Additions to the Rules Governing Dealing Members (Part IX).pdf
Proposed Amendments to the Securities Lending Guidelines and GMSLAProposed Amendments to the Securities Lending Guidelines and GMSLA.pdf
Code of Conduct for Approved PersonsCode of Conduct for Approved Persons.pdf
Amendments to Dealing Members’ Rules (Part X)Amendments to Dealing Members’ Rules (Part X).pdf
Proposed Amendments to Dealing Members' Rules (Part XI) - Rule 15.29 - Pricing MethodologyProposed Amendments to Dealing Members' Rules (Part XI) - Rule 15.29 - Pricing Methodology.pdf
Draft Disciplinary Procedure for Dealing Members of The Exchange - July 2016Draft Disciplinary Procedure for Dealing Members of The Exchange - July 2016.pdf
Proposed Amendments to Dealing Members' Rules (Part XII) - July 2016Proposed Amendments to Dealing Members' Rules (Part XII) - July 2016.pdf
Amendments to the Investors' Protection Fund Rules - July 2016Amendments to the Investors' Protection Fund Rules - July 2016.pdf
Disciplinary Procedure for Dealing Members of The Exchange - Minor Rule BreachesDisciplinary Procedure for Dealing Members of The Exchange - Minor Rule Breaches.pdf
Order Handling and Best Execution Rules -13 October 2016Order Handling and Best Execution Rules -13 October 2016.pdf
Proposed Amendments to Dealing Members' Rules (Part XIII) - December 2016Proposed Amendments to Dealing Members' Rules (Part XIII) - December 2016.pdf
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Circular on Disclosure Obligation of Dealing MembersCircular on Disclosure Obligation of Dealing Members.pdf
Circular on the Prohibition of Guaranteed InvestmentCircular on the Prohibition of Guaranteed Investment.pdf
CIRCULAR ON DISCIPLINARY ACTIONS AGAINST APPROVED PERSONS OF THE EXCHANGECIRCULAR ON DISCIPLINARY ACTIONS AGAINST APPROVED PERSONS OF THE EXCHANGE.pdf
Circular on Reporting of Fraudulent TransactionsCircular on Reporting of Fraudulent Transactions.pdf
Circular on FRC National Code of Corporate Governance 2016Circular on FRC National Code of Corporate Governance 2016.pdf
Disciplinary Procedure - Notification of Minor Rule Breaches and Invitation for Comments - August 2016Disciplinary Procedure - Notification of Minor Rule Breaches and Invitation for Comments - August 2016.pdf
Circular on Disciplinary Actions against Authorized Dealing Clerks of the Exchange - 21 April 2016Circular on Disciplinary Actions against Authorized Dealing Clerks of the Exchange - 21 April 2016.pdf
Update on the Technology Palliatives to Dealing MembersUpdate on the Technology Palliatives to Dealing Members.pdf
Circular on Disciplinary Actions against Authorized Dealing Clerks of the ExchangeCircular on Disciplinary Actions against Authorized Dealing Clerks of the Exchange.pdf
Update on Support to Dealing Members on the implementation of the Minimum Operating StandardsUpdate on Support to Dealing Members on the implementation of the Minimum Operating Standards.pdf
Implementation of the Minimum Operating Standards (MOS) – Follow-up InspectionsImplementation of the Minimum Operating Standards (MOS) – Follow-up Inspections.pdf
Circular on Suspension of the Use of the X-Gen Whole or None (Won) Functionality - 14 DECEMBER 2015Circular on Suspension of the Use of the X-Gen Whole or None (Won) Functionality - 14 DECEMBER 2015.pdf
Procedure for Reclassification of Broker Dealer to Broker or Dealer or Sub-Broker - 18 December 2015Procedure for Reclassification of Broker Dealer to Broker or Dealer or Sub-Broker - 18 December 2015.pdf
Procedure for Reclassification of Registered FunctionsProcedure for Reclassification of Registered Functions.pdf
Circular on Specific Actions Requiring the Prior Approval of the ExchangeCircular on Specific Actions Requiring the Prior Approval of the Exchange.pdf
Disciplinary Actions on Dealing Member Firms and Authorized Clerk - 5 October 2015Disciplinary Actions on Dealing Member Firms and Authorized Clerk - 5 October 2015.pdf
Notification of DM Classification StatusNotification of DM Classification Status.pdf
Submission of Bank Statements to The Exchange - 26 June 2015Submission of Bank Statements to The Exchange - 26 June 2015.pdf
Circular on Compliance with The SEC Complaints Management Framework -16 June 2015Circular on Compliance with The SEC Complaints Management Framework -16 June 2015.pdf
Circular on Online Trading - June 1 2015Circular on Online Trading - June 1 2015.pdf
CIRCULAR ON WEB USAGE - 28 May 2015CIRCULAR ON WEB USAGE - 28 May 2015.pdf
Transfer of Accounts from Inactive to Active Firms - May 23, 2015Transfer of Accounts from Inactive to Active Firms - May 23, 2015.pdf
Circular on Business Combinations for Dealing Member FirmsCircular on Business Combinations for Dealing Member Firms.pdf
Trading by Unauthorized Persons and Prohibition of Sharing Access Log-in details and PasswordsTrading by Unauthorized Persons and Prohibition of Sharing Access Log-in details and Passwords.pdf
Implementation Of The NSE’s Minimum Operating Standard Requirements - 4 March 2015Implementation Of The NSE’s Minimum Operating Standard Requirements - 4 March 2015.pdf
Trading without Authorized Dealing Clerk - 4 March 2015Trading without Authorized Dealing Clerk - 4 March 2015.pdf
Rules on Naked Short Selling for all Dealing Members - 12 February 2015Rules on Naked Short Selling for all Dealing Members - 12 February 2015.pdf
Rules on Naked Short Selling for all Dealing MembersRules on Naked Short Selling for all Dealing Members.pdf
Implementation Of The NSE’s Minimum Operating Standard RequirementsImplementation Of The NSE’s Minimum Operating Standard Requirements.pdf
Circular on Pre - Open Orders - November 14, 2014Circular on Pre - Open Orders - November 14, 2014.pdf
Circular on Execution of Client Mandates - November 13, 2014Circular on Execution of Client Mandates - November 13, 2014.pdf
Circular on Disciplinary Actions on Dealing Member Firms - November 3, 2014Circular on Disciplinary Actions on Dealing Member Firms - November 3, 2014.pdf
Circular on Recognition of Experts - October 30, 2014Circular on Recognition of Experts - October 30, 2014.pdf
Circular on Classification of FPI Requirement - July 26, 2014Circular on Classification of FPI Requirement - July 26, 2014.pdf
Prohibition of Naked Short Selling - July 17, 2014Prohibition of Naked Short Selling - July 17, 2014.pdf
Circular on Disciplinary Actions on Authorized Dealing Clerks - June 11, 2014Circular on Disciplinary Actions on Authorized Dealing Clerks - June 11, 2014.pdf
Circular on Unegbu vs KPMG - January 17, 2014Circular on Unegbu vs KPMG - January 17, 2014.pdf
Circular on Uniform Year End - January 13, 2014Circular on Uniform Year End - January 13, 2014.pdf
Confirmation of Sponsored Individuals - October 10 2013Confirmation of Sponsored Individuals - October 10 2013.pdf
Record Retention Requirements - May 13, 2013Record Retention Requirements - May 13, 2013.pdf
Stoppage of Pre Signed Mandates - March 25, 2013Stoppage of Pre Signed Mandates - March 25, 2013.pdf
Classification of Dealing Member Firms - March 14, 2013Classification of Dealing Member Firms - March 14, 2013.pdf
Registration of Compliance Officer - January 28, 2013Registration of Compliance Officer - January 28, 2013.pdf
Sharing of Brokerage Income - January 21, 2013Sharing of Brokerage Income - January 21, 2013.pdf
Regular Internal Review of Records - January 17, 2013Regular Internal Review of Records - January 17, 2013.pdf
Securities Lending - September 17, 2012Securities Lending - September 17, 2012.pdf
Operational Guide for Market Making and Securities Lending - September 17, 2012Operational Guide for Market Making and Securities Lending - September 17, 2012.pdf
Circular on Know Your Employee - December 1, 2011Circular on Know Your Employee - December 1, 2011.pdf
Authorised Signatories - September 22, 2011Authorised Signatories - September 22, 2011.pdf
Regular Internal Review of Records - May 9, 2011Regular Internal Review of Records - May 9, 2011.pdf
Guidelines for Change of Status from Broker-Dealer to Broker - February 28, 2011Guidelines for Change of Status from Broker-Dealer to Broker - February 28, 2011.pdf
Guidelines for Approving the Appointment of MD-CEO and Directors - February 9, 2011Guidelines for Approving the Appointment of MD-CEO and Directors - February 9, 2011.pdf
Guidelines for Implementing Article 57D - February 7, 2011Guidelines for Implementing Article 57D - February 7, 2011.pdf
Maintenance of Clients' Account - December 20, 2010Maintenance of Clients' Account - December 20, 2010.pdf
Strict Implementation of Transaction Settlement Guidelines - April 15, 2010Strict Implementation of Transaction Settlement Guidelines - April 15, 2010.pdf
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