The Nigerian Stock Exchange (NSE) was established in 1960 and serves the second largest financial centre in sub-Saharan Africa. It is licensed under the Investments and Securities Act and is regulated by the Securities and Exchange Commission. It is a founding member and executive committee member of the African Securities Exchanges Association (ASEA), a member of the Intermarket Surveillance Group (ISG), and an affiliate member of the World Federation of Exchanges (WFE) and the International Organization of Securities Commissions (IOSCO).