candylips:

Tbk counterparty risk can be eliminated by marking to Market this is a well adopted convetion in the OTC derivatives Market
I agree on your point about transparency and disclosure though but I see the initial participants in this Market to be highly credible companies just dealing amongst themselves as an initial step before other things fall into place

are they not going to be 9ja companies?
or are you suggesting we allow the foreign coys lunch our derivatives market for us b4 the locals jump in?

cos how do you guarantee the emboldened?

No I ment nija companies
for example a mobil oil dealing with a first bank.
If these two are not credible enough then nija get serious problem o

^^^ oh i get you

are you reading to trade your desk in London for probably a post with one of our oil traders or even say one of the Investment Banks?

London never tire u?

Lol

Well I no mind coming to nija o. If they can match or surpass my package here I wouldn't mind. My background is more on the technical side though

lawuyi:

why do u think it will??

Sorry guys i posted my last comment in a hurry, but tbk pretty much covers it all, derivatives will come later prolly along with removing the 5% cap on share price movement, its not something we should be in a hurry about, plus the public dreads the stock market itself not to talk of derivative instruments, plus am curious as to how debt securitization will work in Naija as per AMCON

candylips:

Lol

Well I no mind coming to nija o. If they can match or surpass my package here I wouldn't mind. My background is more on the technical side though

Ol boy from word on the street that one go haaaard o! I know some people that have relocated from major ibanks and find it tough to get the same package levels, unless maybe they bring u in to be a really major guy that's practically running the show, i figure the best option might really be for you to come thru and set up your own business,

candylips:

No I ment nija companies
for example a mobil oil dealing with a first bank.
If these two are not credible enough then nija get serious problem o

well said! I figure that's probably the way forward as well. Soon as some of the naija banks get their act together and realize there's valid money to be made by being market makers and picking up premiums from those looking to hedge their FX or commodity price exposures, as for the insurance guys, doubt that they have the capacity (intellectual and financial) to play in this league yet, or what say ye good people??

seunallday:

Sorry guys i posted my last comment in a hurry, but tbk pretty much covers it all, derivatives will come later prolly along with removing the 5% cap on share price movement, its not something we should be in a hurry about, plus the public dreads the stock market itself not to talk of derivative instruments, plus am curious as to how debt securitization will work in Naija as per AMCON

On AMCON's debt securitization, that should be an interesting one, can those guys price those assets effectively or will they just be taken for a ride?? Who are the guys in charge at AMCON sef, anyone know?? If they can handle it well it just might open the door to people selling loads of CDOs n CMOs,

hey all
on the IB front this appears to be the place to be ,
tkb, lawuyi, Tcann, candylips, seulallday et al, well done

hope to be commenting soon from the little i know,
meanwhile ill just be soaking up all the info!
cheers

plus im the first gal here!

hey guys, i was just going through some of the old posts on the thread and someone mentioned an abuja commodities exchange, just went to their site and the exchange is supposed to be doing spot n forward transactions in agricultural produce with plans to evolve into a full blown market trading futures n options
Does anyone know if they're really doing anything up there or if it's just a nice website and plenty talk? Cos i reckon this would be the beginning of a full blown options market, which is what we've been talking about, plus they appear to have electronic trading too!!

lawuyi:

hey guys, i was just going through some of the old posts on the thread and someone mentioned an abuja commodities exchange, just went to their site and the exchange is supposed to be doing spot n forward transactions in agricultural produce with plans to evolve into a full blown market trading futures n options
Does anyone know if they're really doing anything up there or if it's just a nice website and plenty talk? Cos i reckon this would be the beginning of a full blown options market, which is what we've been talking about, plus they appear to have electronic trading too!!

hehehe

dont know what goes on there bro, i think the plan was all you listed but hey, has anythn been done

abeg who knows wassup with ABJ commodity exchange o make e talk

@Tolulop

Tell us whay u wanna leave medicine for core finance. I had a medical doctor as a colleague when i was in consulting too.
just wondering whats the catch?

are u good with numbers? how did you tackle ur Quants in the exam? if i get place for my coy, i for like employ u today today
maybe Lawuyi can help later sha

tkb417:


@Tolulop

Tell us whay u wanna leave medicine for core finance. I had a medical doctor as a colleague when i was in consulting too.
just wondering whats the catch?

hmmmm,  it all began with the POs back then in like 05, all them banks especially. i was a medical student and that was my first exposure to stocks and the like.
ive always been business minded so when i saw shares go up by 100 percent, 200 percent in 6months im like this is crazy, i gotta do this for a living, and i did further research, before i knew it i was sucked into it. i  was constrained at the time financially - like most students are! - so i could not get into it like i wanted to but it was all so fascinating, i even had a virtual portfolio at the time!

anyway long story short, after reading a lot of literature and online stuff, i fell in love with portfolio mgt, and decided to pursue a career in it. next stop was CFA, been planning towards it since 07.
i have a medical dr friend in finance too, he's been very supportive, he was in consulting at a time,could it be the same person?

lol, i'll quote u on that!
Numbers? i think im basic, i just read it up like i read the other parts of the syllabus. it was not really an issue sha. That derivatives was something tho!

^^^
i see, the illegal pact between SEC , NSE and the thieving parties in manipulating share prices is what ignited ur interest in finance

hurray!!! at least, we can still allude to some positives from the whole shebang.
nyways, portfolio mgt is cool and i think u'll find the whole thing interesting and challenging

Dr Friend is he? i have 2 (guy and lady- both married) and they are still in consulting o
i left them for IB

nyways, be rest assured, ill try to monitor ur progress and if i have any opening for u, u'll be the first person ill buzz

oh yeah, i remembered bemster came here asking about IFC and stuff

i can authoritatively say shes resuming on the first of August in a good place

i wont mention

so guys, lets keep it up


@topic

where are these guys?
Violent, Tcann and co? lets discuss abeg

shey na work? me i no too busy today o

hmmm this one that u guys r talking about Drs going from consulting to ibanking, i know one dude that did just that as well. Tolu did ur Dr friend just get married to another Dr

As per helping out jobwise, the only challenge i have with the people we've seen so far is mostly in the area of modeling, my people would prefer someone that has at least a rudimentary knowledge of modeling already and that's disqualified lotsa peeps that might be interested, Tolu any chance u can build financial models?

That abuja exchange can't be doing too good if no one knows much about it oooo

lawuyi:

hmmm this one that u guys r talking about Drs going from consulting to ibanking, i know one dude that did just that as well. Tolu did your Dr friend just get married to another Dr

As per helping out jobwise, the only challenge i have with the people we've seen so far is mostly in the area of modeling, my people would prefer someone that has at least a rudimentary knowledge of modeling already and that's disqualified lotsa peeps that might be interested, Tolu any chance u can build financial models?

That abuja exchange can't be doing too good if no one knows much about it oooo

i reckon the same tooo, whats really cooking in the IB world, been out for a year now, i reckon i aint missing much

lawuyi:

hmmm this one that u guys r talking about Drs going from consulting to ibanking, i know one dude that did just that as well. Tolu did your Dr friend just get married to another Dr

As per helping out jobwise, the only challenge i have with the people we've seen so far is mostly in the area of modeling, my people would prefer someone that has at least a rudimentary knowledge of modeling already and that's disqualified lotsa peeps that might be interested, Tolu any chance u can build financial models?

That abuja exchange can't be doing too good if no one knows much about it oooo

Good day!

I've been able to absolve alot here, u guys r the best. Lawuyi a good friend of mind is rounding up his PHD in finance and he's a modelling jockey.
Is he too qualify? Ur opinion will be highly regarded . Thanks.

PhD !!!
May d guy no come dey jostle with my oga for im job o! But seriously is the dude in naija and ready to get his hands real dirty?? If he's game send the CV thru : blaque100@hotmail.com and i'll pass to d HNIC here, u never know,

^^ Thanks for your swift reply. He's base abroad (europe) . Hopefully he relate with u later.

lawuyi:

Ol boy from word on the street that one go haaaard o! I know some people that have relocated from major ibanks and find it tough to get the same package levels, unless maybe they bring u in to be a really major guy that's practically running the show, i figure the best option might really be for you to come thru and set up your own business,

hmm . . . am still not sure if i wanna trade this place for lagos traffic 

lawuyi:

hey guys, i was just going through some of the old posts on the thread and someone mentioned an abuja commodities exchange, just went to their site and the exchange is supposed to be doing spot n forward transactions in agricultural produce with plans to evolve into a full blown market trading futures n options 
Does anyone know if they're really doing anything up there or if it's just a nice website and plenty talk? Cos i reckon this would be the beginning of a full blown options market, which is what we've been talking about, plus they appear to have electronic trading too!!

yep i was the one that talked about the exchange.

Can u imagine the possibilities if that exchange actually functions . . . .

It means theoretically ( removing 9ja factor) no more seasonality in the price of perishable goods .

Imagine as a fast food outlet been able to budget and forecast for the cost of yams for the whole year without worrying that price fluctuations during the year

@ tkb417
na so oh! even then i knew that the bubble was gonna burst!
as per openings, thanks for the heads up, rily nice of you to take interest like this. thank you!
i think reallly we should consider seriously short selling, right now there is an excessive pressure on stocks to rise, and keep rising, if there was a way to make money whichever way the market flips, we'll be more on the way to being an efficient market. even the so called inefficiencies cannot be exploited adequately with the system on ground. 
as per the married couple ive heard their gist, i dont know their names or anything about them tho

@ lawuyi
yes oh! my dr friend just got married to another dr friend of mine! so we on the same page!
i have no idea as to financial modelling oh! guess u got your PhD guy then,


p.s that commodities exchange will not be bad at all! hedging risk is all too key especially in volatile times.plus iit will be a start of better things to come in the industry.

lawuyi:

Good thread guys, didn't know there was one for ibanking types till now
On the development of the Naija finance scene i think it's a strong question of ambition and demand. The fact is if the market requires ("demands" a solution to a problem and if the problem is large enough then someone will create the product or fill the need. Derivatives and other exotic type assets like securitized products will come on  stream here as soon as the market's big and sexy enough for em.

On the flip side however, the market doesn't always know what it wants or needs, so someone OR some people with ambition and a truckload of cajones have gotta step up to the plate, create a product with merit and virtually force feed it to the market (case in point: Mike Miliken creating the junk bond market and Salomon Bros practically creating the securitized mortgage bond market), so all u guys thinking it's time for a derivative market, go for it!

The guys u mentioned are the same ones now taking flak for creating the exotic instruments that triggered the catastrophic events of 07/08. Lewis Ranieri, former head of the bond trading desk at Salomon Bros u cited who was solely credited with creating the Mortgage Backed Securities market was named as one the worst villains/architects of the financial crisis. Mike Milken has also been dogged by his fair share of problems. So much for force feeding a product to the market. My point is, while it's perfectly fine  to recognize what the market wants, and feed right into it,  financial innovation for innovations sake is clearly going out of fashion.
Lets learn from our counterparts in the west by not making the same mistakes they did. If we are creating products let them have some real use/utility and not just to score quick gains to shore up the bottom line that may eventually go belly up long term.

Tolulop001:

@ tkb417
na so oh! even then i knew that the bubble was gonna burst!
as per openings, thanks for the heads up, rily nice of you to take interest like this. thank you!
i think reallly we should consider seriously short selling, right now there is an excessive pressure on stocks to rise, and keep rising, if there was a way to make money whichever way the market flips, we'll be more on the way to being an efficient market. even the so called inefficiencies cannot be exploited adequately with the system on ground. 

p.s that commodities exchange will not be bad at all! hedging risk is all too key especially in volatile times.plus iit will be a start of better things to come in the industry.

We will get there, the shorts and hedgies will come, our financial sector would evolve and liquiditiy will flow naturally. But I rather we grow the sector organically. Comparing the NSE with NYSE or any top exchange isn't fair in my view. We are still trying to cope with run of the mill issues here that swinging rocket science just doesn't seem sustainable to me. We don't even have the fundamental component of any decent exchange - something called trust. We lost it in the fall out of the market meltdown. So we need to earn that trust back and work on other fundamental issues before exploring more exotic options.

I have a question does anyone have a rough estimate or range of the size of the top 5 ibanks in Nigeria in terms of revenue and roe.  And why aren't they going public??

I have a question does anyone have a rough estimate or range of the size of the top 5 ibanks in Nigeria in terms of revenue and roe. And why aren't they going public??

in no order
rencap, IBTC, Chapelhill, BGL, (maybe ARM)

not sure of how big GTBanks asst mgt coy is presently but i know they are doing well

dont have their numbers ( rev and roe)

Abeg, does any one av current info on interest rates for fixed deposit acc in naija banks

@ tkb417
na so oh! even then i knew that the bubble was gonna burst!
as per openings, thanks for the heads up, rily nice of you to take interest like this. thank you!
i think reallly we should consider seriously short selling, right now there is an excessive pressure on stocks to rise, and keep rising, if there was a way to make money whichever way the market flips, we'll be more on the way to being an efficient market. even the so called inefficiencies cannot be exploited adequately with the system on ground.  
as per the married couple ive heard their gist, i dont know their names or anything about them tho

lol

hehehe

Nice one; we shall see how ur lingo will improve right on this thread
just keep at it

jay bee:

Abeg, does any one av current info on interest rates for fixed deposit acc in naija banks

all dependent on CBNs guidelines for the day

look for numbers to call online

buzz Access Bank and Diamond bank to check

i ehink they shd have the best rates ( not sure)

why fix money in a developing economy when u can turn around d money urself and get 50% (min) in 365 days


do you know about any guaranteed fund u can invest in?
ask IBTC and Kakawa ( check numbers and talk to dem)

^^ mum wants to do fixing
she thinks i'm going to hijack her money so she doesn't want me to help her invest

C_JAY:

The guys u mentioned are the same ones now taking flak for creating the exotic instruments that triggered the catastrophic events of 07/08. Lewis Ranieri, former head of the bond trading desk at Salomon Bros u cited who was solely credited with creating the Mortgage Backed Securities market was named as one the worst villains/architects of the financial crisis. Mike Milken has also been dogged by his fair share of problems. So much for force feeding a product to the market. My point is, while it's perfectly fine  to recognize what the market wants, and feed right into it,  financial innovation for innovations sake is clearly going out of fashion.
Lets learn from our counterparts in the west by not making the same mistakes they did. If we are creating products let them have some real use/utility and not just to score quick gains to shore up the bottom line that may eventually go belly up long term.

I hear u C-JAY on the excesses of Ranieri and Miliken but i still believe that fundamentally there was and still remains nothing wrong with junk bonds or with securitizing mortgages or any type of regular cash flows. Unfortunately they can be easily manipulated and innovated (think CDO squared) to no good purpose, which is what a market like naija needs to avoid. What i was really interested in with those guys is how they help put in place legislation for these products and organised major road shows to promote their products. Cos we're not exactly on the cutting edge of finance our innovation doesn't necessarily need to be so high here in naija but we need to step up and provide more depth in our markets, provide more RELEVANT products and simultaneously get better regulation and transparency,

Tolulope, i'm sure my Dr friend is the same as your Dr friend, cos what are the odds of all this being coincidence

jay bee:

^^ mum wants to do fixing
she thinks i'm going to hijack her money so she doesn't want me to help her invest

hehehe, i feel u man, but depending on how much u guys have give them IBTC n Kakawa a call anyways, not sure they still have em but they used to have some kinda guaranteed investment products or sumtin

tkb417:

all dependent on CBNs guidelines for the day

look for numbers to call online

buzz Access Bank and Diamond bank to check

i ehink they shd have the best rates ( not sure)

why fix money in a developing economy when u can turn around d money urself and get 50/% (min) in 365 days


do you know about any guaranteed fund u can invest in?
ask IBTC and Kakawa ( check numbers and talk to dem)

How can you do that?

^^^
stock market
equity & commodity trading.
wanna learn

jay bee:

^^^
stock market
equity & commodity trading.

wanna learn

Yes if I can get real info, books or sites .

Not your regular share dealing hun.
spread betting. you sort of trade/predict movement of the stock market. This can be fairly easy via technical analysis and understanding of financial market's fundamentals.

Sadly, i only do private tutoring still interested

jay bee:

Not your regular share dealing hun.

spread betting. you sort of trade/predict movement of the stock market. This can be fairly easy via technical analysis and understanding of financial market's fundamentals.

Sadly, i only do private tutoring still interested

I know .

Why be selfish, GIVE me the info for FREE.

madlady:

How can you do that?

call one of the banks in Nigeria and dont talk to Jaybee

hehehe, i feel u man, but depending on how much u guys have give them IBTC n Kakawa a call anyways, not sure they still have em but they used to have some kinda guaranteed investment products or sumtin

i hope they still have them cos im thinkin of doin one myself

ma portfolio is showing danger signs and i need to tone down on ma risk appetiite

who be these una doctor friends o