Online automated stock exchange system – case study of Nigeria stock exchange, Lagos, Nigeria

Description

Abstract The automated Stock Exchange System is an exchange or stock market where stock brokers and traders can buy and sell stocks also called shares, bonds, and other securities. Buying of stock is the process of making a demand for commodities from the stock exchange floor either face to face at the stock exchange office or through an online system. But for Nigeria there is no existing online stock exchange market, so purchasing of stock are done through Phone or at the exchange office which could cause delay, over-crowding, disorderliness and poor record management. These problems informed the development of an online stock market system for Nigerian. An investigative research methodology was employed to enable for a critical analysis of the existing procedure, with the view of identifying its shortcoming and how the new system will improve upon the service standard of the stock exchange.  In the designing of the new system, the following programming languages were used JavaScript for controls and flexibility, PHP for effective linking and communication with the database machine, HTML5 for browser communicator and a database machine, MySQL. This automated system will help in increasing speed during trading in the stock market, it will also help to reduce overcrowding of the stock exchange offices and it enables raising capital for businesses. This project work will significantly enhance the productivity of the stock exchange in Nigeria, bring convenience to the shareholder or stockbrokers and investors, and as an ICT, portrays ICT as an inevitable practice for the improvement of standard of living in areas of speed, accuracy, convenience, and reliability.