Nigeria: FMDQ Facilitates N33 Trillion Investment in Fixed Income Securities

Efforts by FMDQ OTC Plc to reposition the fixed income securities and currency market continued to yield more results as the platform facilitated trading of securities worth N32.761 trillion in the first quarter (Q1) of 2015.

This level of turnover is about 25 per cent higher than the quarterly average recorded in 2014. The platform had achieved a turnover of N104 trillion in 2014.

Trading data obtained by THISDAY at the weekend showed that Nigerian OTC market for foreign exchange(FX), treasury bills (T.Bills), bonds, money and derivatives recorded a turnover of N32.761 trillion in Q1 of 2015.

An analysis of the Q1 performance shows that repurchase agreements/buy-back accounted for N9.033 trillion followed by Tbills with N8.439 trillion. FX recorded a turnover of N8.420 trillion. Unsecured placements accounted for N2.669 trillion, while FX derivatives accounted for N2.199 trillion. FGN bonds recorded N1.959 trillion, just as money market derivatives accounted for N32.485 billion. Other bonds recorded N8.256 billion, while Eurobonds accounted for N334 million.

FMDQ, licensed by the Securities and Exchange Commission(SEC), was officially launched in November 2013 with a mandate to work with stakeholders to develop the Nigerian OTC market. It is improving market transparency in the OTC market with its trading systems, price […]

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