Nairobi Bourse Allows NIC Bank to Offer Custodial Services on its Derivatives Market

Nairobi Bourse Allows NIC Bank to Offer Custodial Services on its Derivatives Market

NIC Bank Limited has been admitted as a Non-Executing Member to the Nairobi Securities derivatives market (NEXT) as a non-executing member.

The admission will enable NIC Bank to offer custodial services to investors looking to participate in the derivatives market besides facilitating settlement of derivatives trades for custodial clients.

“The admission follows the bank’s fulfillment of the NSE’s Derivatives Market membership criteria,” said NSE in a statement.

NIC bank has been offering custodial services for the last 15 years to pension schemes and provident funds, unit trusts, and high net worth corporates.