The NSE was awarded a conditional licence to operate the derivatives market by the Capital Markets Authority in December. PHOTO | FILE
Nairobi Securities Exchange (NSE) has begun recruiting derivatives market oversight board ahead of trading set for this year.
In an advertisement inviting applications published Thursday, the bourse said the team would comprise a minimum of seven of its own nominees, at least one of them an NSE executive.
Others will include two directors of the NSE and two other individuals representing public interest.
Committee members who are eligible for reappointment will be hired for a term of two years and are expected to meet at least once every quarter.
“The committee will advise the (NSE) board on risk, strategic issues and oversight roles relating to the NSE’s derivatives market and the NSE clearing house,” said the NSE statement.
Once the market is operational, the team would be tasked with developing arbitration procedures and address any conflicts of interest in the regulation of trading members or futures brokers, futures contracts’ design and trading, and surveillance functions.
