The Nigeria Central Securities Clearing System (CSCS) Plc has introduced Reconnect, an easy-to-use information exchange web application to enhance the relationship between company registrars and clearinghouse and improve capital market efficiency. According to The Nation, the Managing Director, CSCS Plc, Mr. Haruna Jalo-Waziri disclosed that the new application was to strategically automate and improve operational efficiency in the Nigerian capital market. The application was developed having reviewed CSCS’ operations and methods of interaction with registrars. Reconnect, according to Mr. Jalo-Waziri, will allow registrars process data, unlike the previous solution that only connects with CSCS through a data exchange application and doesn’t process data. The application will aid daily processes concerning the maintenance of registers, with immediate validation of all data being submitted to ensure the accuracy of records, in less time. However, Reconnect provides greater efficiency for the capital market; the application would automate interactions and improve CSCS’ connection with the registrars’ community. Meanwhile, according to the Chief Executive Officer, First Registrars and Investor Services Limited and President, Institute of Capital Market Registrars (ICMR), Mr. Bayo Olugbemi, the introduction of Reconnect to the Nigerian capital market was a welcome development as the solution will reduce processing time, enable swift communication between registrars and CSCS, as well as enhance seamless data transmission. --- Support this podcast: https://anchor.fm/newscast-africa/support