FMDQ Achieves ₦142.00 Trillion Market Turnover in 2017

Must Read

- Advertisement -

With a drive to support and champion growth and development in the Nigerian debt capital, foreign exchange (FX) and derivatives markets, FMDQ OTC Securities Exchange (FMDQ or the OTC Exchange), has remained steadfast and continues to focus on delivering its mandates for these markets, in support of the realisation of the economic development agenda for Nigeria.

Leveraging on relevant collaboration and the effective support of financial market stakeholders in 2017, the OTC Exchange delivered value-adding initiatives and solutions, provided quality and reliable market data and information, promoted price discovery and transparency, facilitated education and capacity building, and has gradually commenced the journey towards the integration of the domestic markets with the international counterparts.

In response to the gradual recovery of the Nigerian economy, following the recessionary trends which shaped activities in the year 2017, FMDQ’s markets experienced a slow but steady improvement, with growth primarily driven by trading activities in the FX and Treasury bills (T.bills) markets. In all, the total over-the-counter (OTC) market turnover saw a year-on-year growth rate of 24.97%, rising from the N113.65 trillion recorded in 2016 to N142.00 trillion in 2017.

Read Also:  Wapic Insurance Introduces Unique Lifestyle Insurance Products into the Market

Trading activities in the T.bills market contributed the largest to overall turnover, accounting for 42.47% of the total market turnover, whilst FX transactions (including FX derivatives) followed with a combined share of 26.90%, and Repos/Buy-backs accounted for 22.46%. Bonds and Money Market transactions (including Unsecured Placement & Takings, Commercial Papers and Money Market Derivatives), on the other hand, had smaller shares of the market, accounting for 7.01% and 1.16% respectively. This turnover represents trades executed among Dealing Members, Dealing Members & Clients, and Dealing Members & the Central Bank of Nigeria (CBN).

- Advertisement -

Focused on promoting the development of the markets within its purview through the roll-out of innovative initiatives in 2018, with an even expanded scope to unlock capital through the markets for the development of the Nigerian economy, FMDQ shall continue to work with its stakeholders to make the Nigerian financial markets “GOLD” – Globally Competitive, Operationally Excellent, Liquid and Diverse.

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

Read Also:  Renewed Confidence in the Nigerian Debt Capital Market as Dangote Cement Issues a total of ₦250bn in Debt Securities on FMDQ Exchange in Six (6) Months
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Combined Market Cap of World`s Five Largest Hotel Chains Up by $12B YTD

Combined Market Cap of World`s Five Largest Hotel Chains Up by...

Although hotel stocks underperformed the broader economy in June for the fourth straight month, the market cap of the world’s largest hotel chains still...
- Advertisement -
spot_imgspot_img

Latest News

Combined Market Cap of World`s Five Largest Hotel Chains Up by $12B YTD

Although hotel stocks underperformed the broader economy in June for the fourth straight month, the market cap of the...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img