Library / B 143 Federal Republic of Nigeria Official Gazette No. 52
B 143 Federal Republic of Nigeria Official Gazette No. 52

Page 21 of 31
B 163
(d)  price setter analysis of buyer and seller ;
(e)  circular trading monitoring such as fraudulent transactions to buy
and sell the same or similar quantity of a contract, at the same or similar
price and within a short time period, without actual change of ownership ;
(f )  dominant participants and market concentration ;
(g)  analysis of sudden increase in transaction volumes or open position
of any participant ; and
(h)  analysis and reasons of persistent default by any participant.
(5)  The gas exchange shall also establish a system for carrying out the
KYC check on members and their clients.
47.—(1)  All reports are to be submitted to the Authority in an electronic
format.
(2)  Trading licensees shall provide to the Authority, open position report
and tenure of all trades and risk summary report on a quarterly basis for risk
monitoring purpose.
(3)  A gas exchange shall —
(a)  report price and volume of daily transactions on its website every
day and a consolidated report on these parameters on a monthly basis by
the 0900 hours on the first day of each month in respect of the transactions
of the immediate preceding month ;
(b)  submit to the Authority, monthly details of all transactions on its
platform and such details shall also be kept by the gas exchange on its
website ; and
(c)  submit to the Authority, bids of all participants along with its analysis
as required and as when directed by the Authority.
(6)  The Authority may at any time —
(a)  direct, by order, the gas exchange or any participants to submit any
periodical or one-time report on any parameter in such format as it may
deem required ; and
(b) by order, lay down and review the formats in which any of the
information shall be submitted by the gas exchange or any participant.
48.—(1) A market participant may report to the Authority, any
unscrupulous activity, wrong-doing or violation of law, as may come to its
attention.
(2)  The identity of the provider of the information referred to in this
regulation shall   be kept confidential and not disclosed.
(3)  The Authority shall take strict action in case of any kind of retaliation
to such an informant by any affected party.
Transaction
reporting by
gas exchange,
trading
licensees,
shippers,
transporters
and any
other market
participants
Whistle
blowers’
policy