CSCS Unveils Regconnect Version 2: Revolutionising Data Exchange  For Registras

CSCS Unveils Regconnect Version 2: Revolutionising Data Exchange  For Registras

CSCS UNVEILS REGCONNECT VERSION 2: REVOLUTIONIZING DATA EXCHANGE FOR REGISTRARS

Central Securities Clearing System (CSCS) Plc has announced the launch of RegConnect Version 2, set to go live on February 28, 2025.

This is a cutting-edge upgrade to its flagship web-based application designed to enhance operational efficiency and user experience for Registrars in the Nigerian capital market.

RegConnect Version 1 was launched in 2019, and it provided an easy-to-use platform that improved the user experience of Registrars when exchanging information. By enabling immediate validation of submitted data, it ensured accuracy and reduced processing times. Now, RegConnect Version 2 takes this innovation further, setting a new benchmark for efficiency and functionality.

RegConnect Version 2 introduces several advanced features that redefine user experience and operational efficiency. The platform now includes omni-channel capability, allowing users to submit transactions through multiple channels such as file uploads, on-screen interfaces, and APIs.

The upgraded version also offers seamless API integration, enabling the retrieval of investor portfolio balances, processing of transactions, and spooling of daily advice files. A monitoring dashboard has been added to provide an end-to-end view of data exchange processes, ensuring real-time tracking and improved operational efficiency.

Haruna Jalo-Waziri, MD/CEO of CSCS Plc, emphasized the company’s commitment to driving innovation in the capital market. “The launch of RegConnect Version 2 represents our unwavering dedication to transforming the Nigerian capital market through technology-driven solutions. This new iteration of RegConnect aligns with global best practices and is a testament to our continuous investment in efficiency and stakeholder satisfaction.”

Designed after an extensive review of CSCS’s operations and interactions with Registrars, RegConnect Version 2 addresses critical industry challenges. Prior to RegConnect, Registrars relied on a Data Exchange application with limited processing capabilities. The new platform not only bridges that gap but also introduces state-of-the-art features to ensure seamless and efficient data exchange.

Mr Jalo-Waziri added “At CSCS, we understand the importance of operational excellence and innovation in fostering a vibrant capital market. RegConnect Version 2 is not just a product upgrade; it is a tool to enhance accuracy, reduce operational bottlenecks, and empower our stakeholders with better control and visibility over their processes.”

CSCS remains steadfast in its mission to deliver cutting-edge solutions that strengthen the Nigerian capital market and improve the overall experience for its participants.

About CSCS

The Central Securities Clearing System (CSCS) is a Public Limited Company with a diversified shareholder base, including the Nigerian Stock Exchange, some of the largest banks in Nigeria, private equity firms, investment banks and other corporate and individual shareholders.  With over two decades of operation, serving as the Central Securities Depository for the Nigerian Capital Market, CSCS has been pivotal to the growth and transformation of the capital market, including its audacious full dematerialization of share certificates and shortening of the settlement cycle in the capital market.

CSCS serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds (such as the FGN Sukuk and the FGN Savings Bond), Equity-traded Funds, Real estate Investment Trusts, Mutual funds and Commodities. CSCS is licensed and regulated by the Securities and Exchange Commission (SEC). The activities of CSCS are governed by the Investment and Securities Act 2007, the Companies and Allied Matters Act 2004, and the SEC Rules.

Leveraging digital technologies, CSCS serves its participants, institutional investors, and retail investors through varying channels, including its web portal, www.cscs.ng; online and mobile applications; web chatbot; Data Exchange platforms; and customer service call center, 070 CALL CSCS—070022552727 or 01 448 0500, amongst others.