CSCS Enhances Data Exchange Platform For Registrars

The Central Securities Clearing System Plc (CSCS) has unveiled an upgraded version of its web-based application designed to improve efficiency and user experience for registrars in Nigeria’s capital market.

In a recent statement, CSCS, which serves as the Central Securities Depository for the Nigerian Capital Market, announced that RegConnect Version 2 will go live later this month.

Launched in 2019, the first version of RegConnect provided registrars with a user-friendly platform for exchanging information, ensuring accuracy through immediate validation of submitted data and reducing processing times.

According to CSCS, the new RegConnect Version 2 introduces advanced features aimed at enhancing operational efficiency. These include omni-channel capability, allowing users to submit transactions via multiple channels such as file uploads, on-screen interfaces, and APIs. Additionally, the upgraded version offers API integration, enabling real-time retrieval of investor portfolio balances, transaction processing, and automated generation of daily advice files. A newly added monitoring dashboard provides an end-to-end view of data exchange processes, ensuring real-time tracking and improved efficiency.

Speaking on the launch, Mr. Haruna Jalo-Waziri, Managing Director/CEO of CSCS, stated: “The launch of RegConnect Version 2 represents our unwavering commitment to transforming the Nigerian capital market through technology-driven solutions. This upgrade aligns with global best practices and reflects our dedication to operational efficiency and stakeholder satisfaction.”

CSCS emphasised that the enhancements were developed following an extensive review of industry challenges and registrar operations. Prior to RegConnect, registrars relied on a data exchange system with limited capabilities. The latest upgrade not only bridges those gaps but also introduces cutting-edge features to streamline processes.

Mr. Jalo-Waziri stated:

“At CSCS, we recognise the role of innovation in driving a vibrant capital market. RegConnect Version 2 is more than an upgrade—it is a solution designed to enhance accuracy, eliminate operational bottlenecks, and empower stakeholders with greater control and visibility.”